Abu Dhabi National Insurance Company (ADNIC) has obtained regulatory approval to set up a reinsurance branch in GIFT City, with the licence taking effect on 1 April 2026.
The approval was granted by the International Financial Services Centres Authority (IFSCA), allowing the insurer to carry out reinsurance business from India’s International Financial Services Centre in Gujarat.
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The authorisation marks ADNIC’s entry into India’s offshore financial centre and adds to its existing cross-border reinsurance activity in the country.
ADNIC, a regional multi-line insurer, has operations in the United Arab Emirates (UAE), Saudi Arabia and the UK, and provides insurance and reinsurance services in global markets.
The planned branch in GIFT City is part of the company’s broader overseas expansion strategy and comes after its recent move into the Saudi market.
According to the company, the India branch is expected to contribute to long-term growth through broader revenue sources and improved service capability for clients in faster-growing markets.
The development is also expected to deepen economic links between India and the UAE and back stronger bilateral trade and investment flows.
With the licence, ADNIC will be able to write reinsurance business from GIFT City, extending its international footprint and adding to its presence in markets it sees as important for growth.
The development comes amid wider activity in India’s insurance market.
Last month, the Insurance Regulatory and Development Authority of India approved two new insurance companies, permitting Allianz Jio Reinsurance and Kiwi General Insurance to start operations.
The regulator issued certificates of registration to both companies at its 134th board meeting, enabling the entry of one reinsurer and one general insurer into the Indian market.
Separately, India recently expanded the number of Russian insurers allowed to provide marine cover for ships arriving at its ports, according to the Directorate General of Shipping.
The list rose to 11 from eight. Gazprom Insurance and Rosgosstrakh Insurance were granted permission to offer protection and indemnity cover until 19 February 2027, while Balance Insurance received approval until 19 August 2026.
