Abu Dhabi National Insurance Company (ADNIC), a multi-line regional insurance provider headquartered in the United Arab Emirates, has received a license to engage in reinsurance business from GIFT City, the first International Financial Services Center (IFSC) in the Indian state of Gujarat, effective April 1, 2026.
ADNIC Group provides insurance and reinsurance globally, with offices in the UAE, Saudi Arabia and the UK.
The move advances ADNIC’s international expansion strategy, following its recent entry into the Saudi Arabian market, building on its existing Indian cross-border reinsurance business.
The Indian arm is expected to support the insurance company’s long-term growth through diversified revenue streams and enhanced service capabilities to customers in high-growth markets, as well as further expand its international network.
The insurance company explained that this will also help strengthen economic ties between the UAE and India, in line with the two countries’ shared goal of expanding bilateral trade and investment.
ADNIC’s entry into the country also underlines its commitment to long-term growth and reinforces its position as a regional insurer with an expanding international presence.
Charalampos Mylonas, CEO of ADNIC, commented: “Obtaining the license to operate in GIFT City is an important milestone in ADNIC’s international development.
“This reinforces our long-term commitment to supporting customers and partners in India while further strengthening the UAE’s economic ties with India.
“As we continue to expand our global presence, our focus remains on delivering reliable, tailored insurance solutions and maintaining operational resilience in a rapidly changing market environment.”
Last month, Niyam Group reportedly became the first insurance intermediary office (IIO) to offer Lloyd’s services when Lloyd’s Insurance and Reinsurance Market applied to set up operations in GIFT City.
