News · BFSI
Indian-focused reinsurance platform Niyam Group has appointed Babita Rai, a veteran of more than two decades in global reinsurance, to lead its international business expansion.
✦ AI SUMMARY 30-second read
- Babita Rai joins Niyam Group from Tysers Singapore, where she served as Chief Executive Officer and Executive Director.
- Rai's career spans senior roles at JB Boda Group, Guy Carpenter, and UIB Asia Reinsurance Brokers.
- In her new role, she will work to expand Niyam's global reach and promote GIFT City as a reinsurance hub.
Why it matters: The appointment signals Niyam's intent to position GIFT City as a credible global centre for international reinsurance business.
This summary was generated by AI. Editors may review and update it.
Niyam Group, an Indian-focused reinsurance platform, has appointed Babita Rai as Global Head of International Business. Rai brings more than two decades of experience in global reinsurance and an extensive market network to the position.
She moves to Niyam from Tysers Singapore, where she held the roles of Chief Executive Officer and Executive Director, having previously served as Managing Director at the same organisation.
Career background
Rai's reinsurance career also includes tenures at JB Boda Group, regarded as India's pioneer and oldest independent reinsurance and insurance broking house, and at Guy Carpenter.
She spent eight years at UIB Asia Reinsurance Brokers, where she progressed through several positions of increasing responsibility, including roles in the Broker Treaty Division, Manager Treaty Division, and Senior Manager.
What the role involves
In her new position, Rai will focus on expanding Niyam's international footprint. A key part of her mandate will be promoting Gujarat International Finance Tec-City, known as GIFT City, as an emerging global reinsurance destination.
GIFT City is a purpose-built financial and technology hub that hosts an international financial services centre, making it a focal point for India's ambitions in cross-border financial and insurance activity.
What Niyam says
A Niyam Group spokesperson described the appointment as an important step towards building the firm as an Indian business serving India and high-growth markets across Asia and Africa.
The spokesperson added that Niyam believes GIFT City can evolve beyond a platform serving India into a global hub for international reinsurance, and that Rai will play a central role in raising awareness of both Niyam's capabilities and the broader opportunities the city offers.
