Starr, an insurance and investment organisation, has announced that it has obtained registration from the International Financial Services Centres Authority (IFSCA) to establish a branch office in the Gujarat International Finance Tec-City (GIFT City), India.
The new IFSC Branch has been authorised to undertake both general and reinsurance business.
In addition, Raviganesh Madhavan has been appointed Principal Officer of the IFSC Branch.
Madhavan is an experienced underwriter with almost 20 years of industry experience, bringing deep expertise in risk assessment and portfolio management within the onshore energy, power, and property sectors.
He joined Starr Insurance in August 2023 as a Senior Underwriter, managing downstream energy, power, property, and construction sectors for the company across India, Malaysia, and the Middle East.
Prior to that, he served as a Syndicate & International Property, Power, Renewables & Mining Underwriter at Lloyd’s Syndicate 2880 and spent 13 years at Swiss Re in various underwriting roles.
Jose Ribeiro, President of Starr Asia Pacific and LatAm, said, “With this (re)insurance license, we look forward to supporting brokers and Indian insurance companies in writing specialty risks where our global expertise and capacity can provide value.”
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