Zurich-based reinsurer Echo Re will soon open a reinsurance branch office in Gujarat International Finance Tec-City (GIFT City) to strengthen its decade old presence in India. The company received the approval from the International Financial Services Centres Authority (IFSCA) of India on 12 March 2026 to open its branch office.
The establishment of Echo Re’s branch office aims to strengthen its operational capacity in one of its key markets. Echo Re has more than a decade-long footprint in the Indian insurance market, during which it has progressively increased its engagement, building a solid and well diversified treaty reinsurance portfolio across P&C and specialty lines.
Echo Re CEO Fabian Pütz said, “The decision to operate in Gujarat International Finance Tec-City IFSC marks a significant step for Echo Re. It shows our great commitment to the Indian insurance market and provides a gateway to the wider Indian subcontinent and beyond.
“Leveraging the local presence with the established capabilities in our Zurich-based office, we aim to further strengthening our excellent relationships by providing our technical knowledge and underwriting capacity to the market.”
Chief Underwriting Officer Paul Hertelendy said, “Echo Re has been active in the Indian market for more than a decade and has established strong relationships as a cross-border reinsurer. Our branch office in GIFT City IFSC reinforces our strategic view of India as one of the world’s most dynamic growth markets. India already represents a central pillar of our portfolio, and we look forward to further strengthening our position in the years ahead.”
Echo Re Regional Manager (Indian subcontinent) Swapnil Soni said, “We wish to express our profound appreciation for the exemplary cooperation extended by the IFSCA, which was instrumental in facilitating a smooth and efficient completion of the licensing process.
“The robust regulatory framework in place constitutes an essential instrument in advancing India’s objective of broadening insurance penetration across all segments of society. With GIFT City quickly developing as a reinsurance hub, we are pleased to access our clients’ business from here and to further strengthen our presence in the region.”