“PartnerRe’s GIFT City branch will provide support to Indian clients, enhancing responsiveness, regulatory alignment, and ease of doing business, offering locally the depth of PartnerRe’s global underwriting expertise and capital strength.With our experienced local team and global resources, we look forward to building lasting partnerships and supporting our clients’ growth”James Beedle, CEO of Partner Reinsurance Asia Pte. Ltd. and CEO P&C APAC
Pembroke, Bermuda: Bermuda based reinsurance company Partner Re announced the receipt of regulatory approval to establish a branch office in the GIFT City, India’s sole International Financial Services Centre(IFSC) under the supervison of International Financial Services Centre(IFSCA), an unified regulator.
This is the first Bermuda based reinsurer,which has set up its operations in the GIFT City-IFSC, where many global reinsurers have ventured into in recent months do business with the Indian market.
Partner Re’s new operation forms part of PartnerRe’s Asia Pacific reinsurance business, under the leadership of James Beedle, CEO of Partner Reinsurance Asia Pte. Ltd. and CEO P&C APAC.
This strategic expansion reinforces the company’s long-term commitment to the Indian market and the broader region, the company said.
PartnerRe’s GIFT City branch will provide support to Indian clients, enhancing responsiveness, regulatory alignment, and ease of doing business, offering locally the depth of PartnerRe’s global underwriting expertise and capital strength.
James Beedle, CEO of Partner Reinsurance Asia Pte. Ltd. and CEO P&C APAC, commented: “We are delighted to be able to establish our GIFT City branch and deepen our support for Indian insurers and regionally. This milestone reflects our commitment to the region and our confidence in India’s dynamic risk landscape. With our experienced local team and global resources, we look forward to building lasting partnerships and supporting our clients’ growth.”
Globally,the reinsurer has a total capital of over $11 billion and the backed by Covéa, a leading European insurance company.