Insurance and reinsurance premium volumes at Gujarat International Finance Tec-City (GIFT City) have skyrocketed from $102 million in 2020 to over $1.2 billion in 2025, according to an official statement.
This marks an over-11-fold rise in five years and reflects a rapid expansion of India-linked risk underwriting at the International Financial Services Centre in Gandhinagar.
The entry of several global insurers and reinsurers, including Allianz, Generali, and Lloyd's of London, has increased underwriting capacity and expanded the market ecosystem.
The growth is primarily fueled by non-life segments, specifically trade credit, marine, and aviation insurance, which are increasingly linked to cross-border trade and infrastructure financing.
Ankur Mehta, managing director of Guy Carpenter India, said the growth in premium volumes reflects increased participation by global and domestic insurers and growing confidence in GIFT City as a platform for underwriting India-linked risks.
