Abu Dhabi National Insurance Company (ADNIC) has received regulatory approval to operate a reinsurance branch from India’s International Financial Services Centre at GIFT City, according to a company statement released on April 21.
The licence, effective April 1, allows the insurer to undertake reinsurance business from the Gujarat-based financial hub. The move adds to ADNIC’s existing cross-border reinsurance operations in India and follows its recent entry into the Saudi Arabia market.
