Saudi Re secures approvals to open branch in India

08:29 AM (Mecca time) Argaam
Saudi Re’s expansion into GIFT City follows India’s regulatory reforms favoring locally established insurers.

Saudi Re’s expansion into GIFT City follows India’s regulatory reforms favoring locally established insurers.

Saudi Reinsurance Co. (Saudi Re) obtained the approvals from Saudi Arabia’s Insurance Authority and the relevant Indian authorities to open a branch in India’s Gujarat International Finance Tec-City (GIFT City), according to a statement to Tadawul.

 

The company has been operating in the Indian market for more than 10 years through its headquarters in Riyadh. It seeks to further strengthen its presence in India, one of the company's largest markets outside Saudi Arabia.

 

The financial impact is expected to materialise once the branch begins operations in Q2 2026.

 

The move follows the Indian government's unveiling of new regulations for the insurance sector, giving priority to local companies and to international branches established in India.

 

The branch opening also aligns with Saudi Re’s expansion strategy as it is diversifying geographic risks to maintain a balanced business portfolio, thereby supporting the sustainability of its technical performance, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.