The ambition to establish India’s GIFT City as a hub for insurance-linked securities is gaining momentum. However, as Iain Reynolds, Head of Third-Party Capital at Peak Re, noted at the IFSCA-IRDAI-GIFT City Global Reinsurance Summit 2026 today, success requires more than just a regulatory framework, it requires a clear focus on what the regime is trying to achieve.
The International Financial Services Centres Authority (IFSCA) and GIFT City have been working on plans to develop insurance-linked securities (ILS) regulation within India for some time, including exploring the issuance of instruments such as catastrophe bonds
Last year, the panel, a Working Group (WG), consisting of industry experts within Alternative Risk Transfer (ART) arrangements, published a report outlining how the IFSCA can play a crucial role in making India a hub for catastrophe bonds.
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