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International Comparative Study on Development of Strategic Framework for making the IFSC as a Re-insurance Hub

The International Financial Services Centres Authority (IFSCA) was established, as the financial regulator of the IFSCs. Within a short duration, IFSCA has undertaken a gamut of measures, including laying down a comprehensive regulatory framework for various financial services, with a focussed mandate of how to make GIFT IFSC a thriving financial hub. Becoming an offshore financial centre is an important aspect of being a financial hub. Consistent with the IFSCA’s proactive approach, it commissioned the comparative study of international financial centres having a developed offshore reinsurance market. Therefore, the objective of this study is to look at regulatory regimes and features related to ease of doing business in other financial centres to draw lessons for GIFT IFSC, so it can develop capability to cater to the international reinsurance market.

NCAER Project Team:
K P Krishnan, Amrita Pillai, Sudipto Banerjee, Sundus Usmani

Sponsored by:
International Financial Services Centres Authority