Korean Reinsurance Company (Korean Re) has formally established its India Branch in Gujarat International Finance Tec-City (GIFT City), India's international financial services hub. The company announced in a press release that it held an opening ceremony on 20 January 2026.
Following regulatory approval from the International Financial Services Centres Authority (IFSCA) on 6 November 2025, Korean Re plans to officially commence branch operations in April 2026.
The ceremony was attended by around 150 guests, including Dongwan Yoo, Consul General of the Republic of Korea in Mumbai, representatives from Indian financial authorities, and senior leaders from the local insurance and reinsurance sectors.
Korean Re CEO Jonggyu Won said, “India is one of the most important markets in the world, defined by immense growth potential. As a trusted partner, Korean Re will grow together with the Indian insurance market, continue to expand our overseas underwriting portfolio, and strengthen our global competitiveness.”
As the world’s 10th-largest insurance market, India is among the fastest-growing emerging markets, supported by rapid development across its broader financial sector. Korean Re’s decision to establish a local presence underscores its commitment to serving this high-growth market effectively.
With the addition of the India Branch, Korean Re now has a global network of 12 overseas operations, comprising four subsidiaries, five branches, and three representative offices. Leveraging this expanded network, the company aims to further strengthen its position in the international reinsurance market.