Star Health branch in GIFT City to attract inward reinsurance and offer risk cover for NRIs
In a significant development, Star Health and Allied Insurance Company Ltd announced plans to offer NRI-focused insurance and attract foreign inward reinsurance with its new branch at GIFT City, Gujarat. The company aims to cater to the insurance needs of NRIs and India’s growing international student community.
According to the company, the GIFT City branch will commence operations by the end of this month and will serve as a platform to attract foreign inward business as a reinsurer. Star Health plans to introduce its international insurance product suite gradually throughout FY25 to cater to the needs of Indians traveling abroad.
Star Health has received registration from the IFSCA to establish an IFSC International Office (IIO) at GIFT City, marking a significant milestone in the company’s growth strategy. MD and CEO Anand Roy expressed enthusiasm about the expansion, stating, “This is a pivotal step in our expansion strategy, extending our reach beyond Indian borders and providing seamless access to our health insurance offerings for Non-Resident Indians (NRIs) and the global Indian diaspora.”
With this move, Star Health aims to strengthen its presence in the international market and solidify its position as a trusted insurance provider for NRIs and the global Indian community.
