Korean Re gains approval to establish new branch in India's GIFT City

Korean Reinsurance Company has received regulatory clearance to open a new branch in Gujarat International Finance Tec-City (GIFT City), located in Gandhinagar, India. The approval marks a significant step in the reinsurer’s strategy to expand its footprint in South Asia and tap into the region’s growing reinsurance market.

Strategic significance of GIFT City

GIFT City serves as India’s primary international financial hub and is designed to attract global financial institutions through favorable regulations and tax incentives. Korean Re’s new branch will enable the company to provide reinsurance solutions to Indian and regional clients, strengthening its presence and competitiveness across emerging Asian markets.

Company statement

In a statement, Korean Re said the new branch aligns with its long-term growth objectives and supports its mission to diversify geographically. The firm added that the GIFT City office will help it engage more directly with local insurers and respond quickly to market demands in the region.

“Expanding into GIFT City reflects our commitment to support the Indian insurance sector and establish a stronger base for future growth in Asia,” the company noted.

Broader regional context

The move follows a broader trend of international reinsurers establishing operations in GIFT City since India allowed foreign reinsurers to set up branches there. These developments are expected to enhance competition and deepen reinsurance capacity in the Indian market.

Author summary: Korean Re’s new branch in GIFT City marks its deeper move into South Asia, reflecting both India’s appeal to global reinsurers and the firm’s commitment to long-term regional expansion.

Insurance Business — 2025-11-28