GIC Re opens IIO at GIFT City

 In yet another milestone for India’s first International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City), General Insurance Corporation of India (GIC Re) opened its IFSC Insurance Office (IIO). General Insurance Corporation of India (GIC Re), is wholly owned by government of India.

Speaking at the occasion, chairman-cum-managing director of GIC Re, Alice G Vaidyan, said, “Ours is the first re-insurer to set up base at India’s global financial hub at GIFT IFSC. While working on our future global expansion plans, GIC Re has also decided to be a part of the Indian effort in building an offshore financial centre at GIFT City.  In the true spirit of ‘together we make it happen’, while adding value to the GIFT City IFSC by starting its International Insurance Office (IIO) operations, GIC Re’s experience of working in other global IFSCs could certainly be shared with GIFT IFSC.”