IndiaFirst Life Sets a Milestone with New Operations in GIFT City

IndiaFirst Life has become the first Indian life insurer to start operations in Gujarat International Finance Tec City (GIFT City), according to a company release on Wednesday. The company launched its IFSC Insurance Office (IIO) at this international financial hub.

Representative image

Headquartered in Mumbai, IndiaFirst Life Insurance Company Ltd has a paid-up share capital of Rs 754 crore. The company's shareholders include Bank of Baroda, Union Bank of India, and Carmel Point Investments India Pvt Ltd.

Dedicated Team for Global Audience

IndiaFirst Life's IIO will have a dedicated team of specialists to cater to GIFT City's global audience. The company offers a specially designed ULIP product for global Indians called the IndiaFirst Life Wealth Wise plan.

This US dollar-denominated plan is ideal for international customers seeking long-term wealth and legacy creation. The company aims to secure lives, create value, and expand its reach to global citizens by establishing a base at GIFT City.

Commitment to India's Growth

IndiaFirst Life remains committed to contributing to India's growth narrative. "We are truly thankful to the regulator for this opportunity," said Rushabh Gandhi, Managing Director and CEO of IndiaFirst Life.

"We are delighted to be the first Indian life insurance company to commence operations in GIFT City IFSC," Gandhi added. "Our IIO will offer foreign currency-denominated life insurance solutions to international customers of our partner banks and our preferred broker partners."

IndiaFirst Life's new office at GIFT City will provide foreign currency-denominated life insurance solutions. This initiative aims to serve international customers through partner banks and preferred broker partners.

The company's release highlighted that the IIO will offer a range of services tailored for GIFT City's global clientele. This move is part of IndiaFirst Life's strategy to expand its reach and secure lives globally.

IndiaFirst Life's establishment at GIFT City marks a significant step in its growth journey. The company's focus on creating value and expanding its reach aligns with its commitment to India's development.

IndiaFirst Life's presence in GIFT City underscores its dedication to innovation and customer-centric solutions. The company's efforts aim to meet the needs of a diverse, international customer base while contributing to India's financial landscape.

The launch of the IIO at GIFT City represents a milestone for IndiaFirst Life. By offering specialised products like the Wealth Wise plan, the company seeks to attract international customers looking for robust financial solutions.

IndiaFirst Life's strategic move into GIFT City highlights its ambition to be a key player in the international financial services sector. This initiative is expected to enhance the company's ability to serve a broader audience effectively.

The company's expansion into GIFT City is seen as a testament to its forward-thinking approach and commitment to growth. IndiaFirst Life continues to innovate and adapt, ensuring it meets the evolving needs of its customers.

IndiaFirst Life's operations in GIFT City are set to provide significant benefits for both the company and its clients. The focus on foreign currency-denominated products positions IndiaFirst Life as a competitive player in the global market.

IndiaFirst Life's new office at GIFT City is poised to become a hub for innovative financial solutions. The company's dedication to securing lives and creating value remains at the core of its mission as it expands its footprint internationally.