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Qatar Islamic Insurance gets approval to launch reinsurance in GIFT City
The license comes as registrations and authorisations at the IFSC rose to 1,213 as of March 2026, and GIFT City reinsurance volumes climbed to USD 1.2 billion in 2025.
Qatar Islamic Insurance Group has received a license from the International Financial Services Centre authorities to set up an Indian branch that will conduct reinsurance business in Gujarat International Finance Tec-City, or GIFT City, Reinsurance News reports.
The article says the move reflects continued expansion at the IFSC, where total registrations and authorisations reached 1,213 as of March 2026, up from 1,114 in December 2025.
Reinsurance News also points to growth in GIFT City activity, saying insurance and reinsurance volumes rose to USD 1.2 billion in 2025 from USD 102 million in 2020, driven largely by non-life insurance and reinsurance.
The report notes that the hub has attracted both global reinsurers and brokers, and cites recent momentum including EarthRe Insurance IFSC Limited becoming the first locally incorporated reinsurer at GIFT City after receiving an IFSCA reinsurance licence, plus MS First Capital Insurance Limited starting reinsurance operations on July 29, 2026.