IIOs in GIFT City can undertake a diverse range of international insurance and reinsurance activities, opening up new markets and revenue streams.

• Direct Insurance: Write policies for entities located in other SEZs and outside India. This is ideal for covering the global assets and liabilities of multinational corporations.
• Reinsurance Business: Accept reinsurance business from both Indian and foreign insurance companies, allowing you to participate in global risk pools.
• Specialized Insurance Lines: GIFT City is a growing hub for specialized risks, including aviation, marine cargo, liability, and large-scale infrastructure project insurance.
• Insurance Intermediaries: Set up operations as a direct broker, reinsurance broker, composite broker, corporate agent, or surveyor and loss assessor to serve the growing IFSC market.

The regulatory framework for insurance in GIFT IFSC is designed to be efficient, robust, and globally competitive.

• IFSCA (Registration of Insurance Business) Regulations: This is the core framework that governs the licensing and operation of all IIOs, providing a clear and comprehensive set of rules.
• Foreign Currency Operations: A key principle is that all business must be transacted in freely convertible foreign currencies, not Indian Rupees, positioning your IIO as a truly international entity.
• Global Standards: The regulations for underwriting, risk management, and policyholder protection are benchmarked against international standards, providing confidence to global clients and partners.
• Alignment with Home Country Rules: Foreign insurers are typically permitted to transact the same classes of business in GIFT City as they are allowed to by their home country regulator, ensuring consistency in operations.

GIFT City provides a highly attractive environment for insurance businesses, with significant tax and operational benefits.

• 10-Year Tax Holiday: IIOs are eligible for a 100% tax exemption on their profits for 10 consecutive years out of the first 15 years.
• Access to Global Risk Pools: Operate from India while tapping into the global insurance and reinsurance markets, allowing for better risk diversification and growth.
• Lower Operational Costs: Leverage India's competitive cost structure for underwriting support, claims processing, and other back-office functions.
• Strategic Market Proximity: Position your business to serve the growing international insurance needs of India's largest corporations as they expand globally.

Our legal and tax experts will help you structure your IIO to maximize these powerful advantages.