Doha Insurance Group (DIG) will open a reinsurance branch under the "Gift City" international insurance office category in Gujarat International Financial Tec-City "Gift City", India. DIG has obtained the approval of the Qatar Central Bank (QCB) for this purpose.
According to a company disclosure lodged with the Qatar Stock Exchange, the branch will engage in reinsurance activities. This step comes as a continuation of the series of successes that DIG has achieved in its other regional centres, where these branches have significantly contributed to enhancing the Group’s revenues and strengthening its insurance portfolio.
The Group is presently working on completing the necessary procedures and obtaining the required regulatory approvals for this new project from the QCB and the other regulatory and supervisory authorities in India.
DIG’s other subsidiaries include Doha Takaful, its takaful arm established in Qatar in 2018; Mena Re, the Group’s non-life reinsurance arm founded in the DIFC in 2015; Barzan, DIG’s IT arm, founded in Jordan in 2016 to provide technical and IT solutions; and Mena Re Life: the Group’s Life and Medical Reinsurance Arm, founded in Lebanon in 2018.