Global reinsurer Swiss Re on Monday said it had received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a branch in Mumbai. With the composite branch licence, Swiss Re will be able to operate in India and offer both non-life and life and health reinsurance solutions directly to clients and brokers in the country, it said. Swiss Re’s newly-licensed entity, Swiss Reinsurance Company Ltd., India Branch, will begin its operation from February 1, 2017. Kalpana Sampat, currently Managing Director, Swiss Re Services India Private Ltd., will head the Swiss Re India branch as its chief executive officer.
