Allianz Partners establishes presence in GIFT City

It is the first foreign reinsurer to operate in the area.

Allianz Partners, an insurance and assistance services company, has launched its IFSC Insurance Office (IIO Reinsurance Branch) in GIFT City, Ahmedabad, marking its expansion efforts in India. 

The IIO, a reinsurance branch of AWP P&C S.A., a group entity of Allianz Partners headquartered in Paris, France, aims to improve the reinsurance landscape in India with its B2B offerings.

The establishment of the IIO Reinsurance Branch aligns with Allianz Partners' business strategy, fostering growth in the insurance sector and strengthening its presence in the Indian market. 

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 "We take immense pride in being among the pioneers to establish a reinsurance branch in GIFT City. This marks a step in expanding our business within India, as we strive to implement a comprehensive strategy tailored to the dynamic needs of the market. Our priority is strengthening reinsurance and insurance solutions in the non-life sector." Charu Kaushal, CEO at Allianz Partners India said in a press release.

Situated within the GIFT City Special Economic Zone (SEZ), the office hopes to leverage benefits such as import-export advantages and tax exemptions.