Sing Re secures IFSCA nod to launch GIFT City reinsurance unit

Sing Re will offer treaty and facultative reinsurance solutions.

Singapore Reinsurance Corporation Ltd (Sing Re) has received regulatory approval from the International Financial Services Centres Authority (IFSCA) to operate a reinsurance branch in Gujarat International Finance Tec-City (GIFT City), India.

The license allows Sing Re to function as an IFSC Insurance Office (IIO) and underwrite property and casualty reinsurance business as a Category-2 reinsurer under India’s Order of Preference framework. 

Through the IIO, Sing Re will offer treaty and facultative reinsurance solutions across property, energy, marine, upstream, equipment, casualty, agriculture, credit, surety, personal accident, medical, and motor lines in Asia-Pacific, Africa, and the Middle East.