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MS First Capital launches reinsurance operations from India’s GIFT City
The insurer started operations on July 29, 2026, adding a dedicated GIFT City branch led by a Principal Officer and CFO for local re/insurance work.
Singapore headquartered non-life insurer MS First Capital Insurance Limited began reinsurance operations from its new office in India’s Gujarat International Finance Tec-City (GIFT City) on July 29, 2026, a move aimed at expanding its presence in the Indian reinsurance market, Reinsurance News reports.
The company said it has worked with Indian cedants, brokers, and reinsurers for years and that establishing a GIFT City branch reflects its long term commitment to India and its expectations for growth there. MS First Capital also appointed R. Vaidyanathan as Principal Officer and S Venugopalan as CFO for its GIFT City operations.
Founded more than 75 years ago as The Public Insurance Company Limited, the insurer evolved through acquisitions and rebranding and became MS First Capital in 2017 after integration into Mitsui Sumitomo Insurance Company Limited, part of MS&AD Insurance Group, according to the outlet.
Reinsurance News also highlighted that insurance and reinsurance volumes at GIFT City totaled $1.2 billion in 2025 versus $102 million in 2020, driven mostly by the non-life insurance and reinsurance segments. The article noted MS First Capital is among a growing list of carriers and reinsurers that have opened in the financial center.