IndiaFirst Life Insurance Company Ltd (IndiaFirst Life), one of the fastest growing private life insurers of the country, became the first Indian life insurance company to get the Gujarat International Finance Tec (GIFT) City’s International Financial Services Centre (IFSC) Registration.
Elated on obtaining the registration, Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance Company Ltd, said, “IndiaFirst Life is proud to be the first Indian life insurance company to receive the GIFT City IFSC registration. We aim to enhance our market presence and capitalize on the customer outreach opportunities at a global level. IndiaFirst Life’s foray into the hi-tech and ultra-modern financial ecosystem of GIFT City IFSC, will empower us to secure lives and create value for our international customers, particularly NRIs (non-resident Indians) banking with our partner banks – Bank of Baroda and Union Bank of India.”
It obtained registration from the International Financial Services Centre Authority (IFSCA) in September 2023 following approval from the Insurance Regulatory and Development Authority of India (IRDAI) in August of the same year. IndiaFirst Life would be able to reach a wider audience worldwide thanks to the registration. With a dedicated office space reserved in GIFT City, the company is ready to go as soon as the required paperwork is completed.
As the gateway to international finance in India, GIFT City IFSC seeks to become a global centre for technology and finance, spearheading changes that would benefit and grow enterprises. With backing from the Indian government, it offers an ecosystem for important economic operations with globally benchmarked laws, taxes, policies, and more.
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