Abu Dhabi National Insurance Company (ADNIC) secures licence for reinsurance business in GIFT City

Exam-focused facts from the 24 April 2026 current affairs briefing.

Key facts

The Abu Dhabi National Insurance Company (ADNIC) has obtained a licence to undertake reinsurance business from the International Financial Services Centre Authority (IFSCA) at GIFT City.
GIFT City is India's first International Financial Services Centre (IFSC) and is located in Gujarat.
The licence to operate in GIFT City is effective from 1 April 2026.
The entry into India follows the company's recent entry into the Saudi Arabia market.
The India branch is intended to diversify revenue streams, improve service capabilities, enhance India-UAE economic ties, and expand bilateral trade and investment.
Charalampos Mylonas is the Chief Executive Officer of ADNIC.