Seoul-based reinsurer Korean Reinsurance Company (Korean Re) has announced plans to commence operations for its Indian branch in April 2026.
Additionally, on November 6th, 2025, Korean Re obtained authorisation from the International Financial Services Centres Authority (IFSCA) to operate as an IFSC Insurance Office (IIO), marking the firm’s commitment to overseas expansion efforts.
Korean Re’s decision to establish a local presence in India aligns with its commitment to serve the high-growth market effectively. These efforts were spearheaded by Jonggyu Won, President and Chief Executive Officer of the company.
As the world’s tenth-largest insurance market, India is one of the fastest-growing emerging markets, supported by rapid development across its broader financial sector.
As part of the Indian government’s initiative to attract global investment, GIFT City has been designated as a special economic zone for international financial transactions, with regulatory advantages and tax incentives designed to make it an attractive destination for global financial institutions.
Won commented, “We expect our new branch in India to enhance our ability to respond to the dynamic growth of emerging markets.”
The reinsurer is the latest in a long line of international re/insurers to establish operations in GIFT City, including Starr, Everest, Singapore Re, and Peak Re.
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