The licence, effective April 1, allows the insurer to undertake reinsurance business from the Gujarat-based financial hub. The move adds to ADNIC’s existing cross-border reinsurance operations in India and follows its recent entry into the Saudi Arabia market.
The company said the India branch is expected to diversify its revenue streams and expand service capabilities across markets it identifies as high-growth. It also said the development could support broader economic engagement between the UAE and India, where policymakers have been seeking to deepen trade and investment ties.
ADNIC, headquartered in Abu Dhabi, provides insurance and reinsurance services across multiple geographies and currently has offices in the UAE, Saudi Arabia, and the United Kingdom. The India branch would extend its international network.
In a statement, Chief Executive Officer Charalampos Mylonas said the approval marked a step in the company’s international expansion and reiterated its focus on serving clients and partners in India.
India’s GIFT City has emerged as a hub for offshore financial services, including reinsurance, with several global insurers and reinsurers setting up operations under the country’s International Financial Services Centre framework.
