Singapore Reinsurance Corporation (Sing Re) has secured the reinsurance branch licence by the International Financial Services Centres Authority (IFSCA) to operate as an IFSC Insurance Office (IIO) in India's Gujarat International Finance Tec-City (GIFT City).
According to a corporate announcement by the reinsurer, this milestone marks a strategic expansion of Sing Re’s capabilities, authorising it to underwrite Property & Casualty reinsurance business as a Category – 2 reinsurer under the Order of Preference framework.
The IIO strengthens Sing Re’s penetration in the Indian market, enabling it to better serve its clients with an onshore presence. This initiative underscores the Singapore reinsurer’s strategic focus on India and reaffirms its long-term commitment to deepening its footprint in the Indian market.
The reinsurer offers both Treaty and Facultative reinsurance solutions for all lines of business of property, energy, marine, upstream, equipment, casualty, agriculture, credit, surety, personal accident, medical and motor business in Asia-Pacific, Africa and the Middle-East.
Sing Re is rated “A” Excellent and is part of the Fairfax group of companies.