Insurance and reinsurance
Insurers, reinsurers and insurance intermediaries operate in GIFT IFSC as IFSC Insurance Offices (IIOs) and IFSC Insurance Intermediary Offices (IIIOs), under eleven IFSCA insurance regulations.
Routes
- IFSC Insurance Office: an insurer or reinsurer writing business from the IFSC, usually as a branch.
- IFSC Insurance Intermediary Office: brokers and other intermediaries.
- Service companies and syndicates, where the framework provides.
- Risk transfer proposals such as insurance-linked securities, under consultation or development.
Guides in this section
IFSC Insurance Offices
An IFSC Insurance Office lets an Indian or foreign insurer or reinsurer write insurance and reinsurance from GIFT IFSC, regulated by IFSCA rather than IRDAI.
Read the guide →Insurance intermediary offices
Insurance brokers and other intermediaries register as IFSC Insurance Intermediary Offices to place business from GIFT IFSC.
Read the guide →Reinsurance from GIFT IFSC
Reinsurance is the main insurance activity in GIFT IFSC. IIOs reinsure Indian and foreign risks within the IFSCA framework and the order-of-preference rules that govern cessions from Indian insurers.
Read the guide →The IIO rulebook
IFSCA's insurance rulebook comprises eleven regulations, covering registration, capital and solvency, investments, intermediaries, conduct and reporting.
Read the guide →Mainland or IFSC: routes for a foreign insurer
A foreign insurer can enter India onshore through IRDAI, or from GIFT IFSC through IFSCA. The two are different regimes, not alternatives within one regime.
Read the guide →Lloyd's and service companies in the IFSC
Whether a Lloyd's-style syndicate or service company can operate in the IFSC is not yet settled by an express framework. Where a market participant wishes to explore it, we would approach IFSCA through its informal guidance scheme before any commitment is made.
Read the guide →Insurance-linked securities and special purpose insurers
Insurance-linked securities and special purpose insurers are subjects of policy discussion for GIFT IFSC. Treat them as proposals until IFSCA issues a framework.
Read the guide →Authorities and further reading
The official instruments and pages this guide relies on. Check the current version on the issuer's site before acting.
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