Lloyd’s Gets GIFT City License
Lloyd’s of London secured a license in India’s GIFT City, a move that bolsters the city‑state’s reinsurance ecosystem and brings more global underwriting capital into the market. That kind of regulatory foothold matters for carriers thinking about cross‑border underwriting partnerships and capital sourcing. (x.com)
Two Lloyd’s syndicates — Syndicate 2047 (Niyam Group) and Syndicate 2454 (Africa Specialty Risks) — have already announced plans to write business via the Lloyd’s platform in the GIFT‑IFSC. (asiainsurancepost.com, ) Syndicate 2047 received in‑principle approval from Lloyd’s and is slated to start underwriting from April 1, 2026, with Polo Managing Agency (PoloWorks) named as the manager. (reinsurancene.ws, ) Market filings and coverage note that Lloyd’s underwriters operating from GIFT IFSC can do so through a Lloyd’s service company or by appointing a coverholder to place cross‑border risks. (businessinsurance.com, ) GIFT City’s package of incentives cited by entrants includes a 10‑year tax holiday and exemptions on capital gains for IFSC entities, a fiscal framework frequently referenced by reinsurers in location decisions. (business-standard.com, ) Reporting notes Lloyd’s move follows other global reinsurers such as PartnerRe into GIFT City, with commentators pointing to a broader push by reinsurers into India’s IFSC even as industry observers reference an AM Best CRT‑4 rating for India. (insurancebusinessmag.com, ) The IFSCA states there were 1,034 registrations/authorisations in the GIFT IFSC as of December 2025, a regulatory scale metric cited in coverage of new market entries by global underwriters. (ifsca.gov.in, )
