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Gujarat Govt: The results of the visionary leadership and favorable policies of the Gujarat government have again come to the fore. Saudi Arabia’s re-insurance company Saudi Reinsurance Company (Saudi Re) has started its new branch in Gujarat International Finance Tech-City (GIFT City). This branch has been started in India after getting necessary approvals from Indian and Saudi regulatory bodies. Due to the branch of Saudi Re, GIFT City’s reputation in the global financial center has become stronger.

On this special occasion, Saudi Re CEO Ahmed Al-Jaber said that India is a strategically very important market for the company. Opening a branch in GIFT City is an important step towards their global expansion. He said that this initiative will take India-Saudi economic cooperation to new heights. Saudi Re will provide high quality facilities in the re-insurance sector.

Gift City is becoming a favorite destination

GIFT City developed by the Government of Gujarat is today becoming a very preferred destination for international financial institutions. Under the new Indian rules recently implemented in the insurance and re-insurance sector, preference is being given to branches of local companies and international companies. Gujarat is benefiting from this.

Saudi Re considers Asian market important

According to Saudi Re, it considers the Asian market as the main basis of its development, the center of which is India. The company aims to be included in the top-50 re-insurance companies of the world. With international rating, global presence and strong capitalization, Saudi Re’s arrival in GIFT City is considered a big achievement for Gujra.

Result of Gujarat Government’s policies

Saudi Re’s entry into Gujarat, investment friendly policies of Gujarat government and international level infrastructure are playing an important role in establishing the state as a financial and investment hub.