Phoenix AfroAsia

New service Launch Announcement !! We are pleased to launch the Legal service line under Phoenix AfroAsia - "Reinsurance Recovery & Dispute Resolution" for Reinsurance intermediaries, insurers, and reinsurers. With increasing complexity in reinsurance contracts and growing challenges around recoveries , we offer an end-to-end solution for reinsurance recoveries, encompassing detailed review of treaty slips and contract wordings to ensure alignment with recovery objectives and proactively minimise potential disputes. our services further extend to mediation, arbitration, and support in both local and cross-border litigation—ensuring effective recovery outcomes even in complex, multi-jurisdictional situations. Regards Team- Phoenix AfroAsia New India AssuranceUnited India Insurance Co. Ltd.The Oriental Insurance Company Ltd.National Insurance Co. LtdAGRICULTURE INSURANCE COMPANY OF INDIA LIMITEDECGC LimitedCholamandalam MS General Insurance Co. Ltd.Royal Sundaram General Insurance Co. LimitedSHRIRAM GENERAL INSURANCE CO. LTD.Kshema General Insurance LimitedUniversal Sompo General Insurance Co. Ltd.TATA AIG General Insurance Company LimitedMapfreArch ReGIFT CityMunich ReSwiss ReICICI LombardBajaj General InsuranceHDFC ERGO General InsuranceSBI General InsuranceLocktonJ.B.BODA GroupBharat Re Insurance Brokers Pvt LtdK M Dastur Insurance and Reinsurance Brokers Private LimitedAnand Rathi Insurance Brokers LtdUNISON Insurance Broking Services Pvt LtdPrudent Insurance Brokers Pvt Ltd.Edme Insurance BrokersMahindra Insurance Brokers LimitedBeacon Insurance Brokers Pvt. Ltd.IBAI - Insurance Brokers Association of IndiaInsurance Brokers Association of UgandaAfrican Reinsurance CorporationGIFT CityAIO - African Insurance OrganisationOESAI-Organisation of Eastern and Southern Africa InsurersAfrican Association of Young Insurance Professionals - YIPs AfricaBar and BenchInternational Bar Association

Niyam 2047 in GIFT City !! Niyam 2047, a Lloyd's of London syndicate, has received approval from the International Financial Services Centres Authority to establish its branch in GIFT City, India. The name “Niyam”, derived from Sanskrit, signifies discipline, while 2047 reflects the vision of a Viksit Bharat by 2047. The syndicate is primarily promoted by the Niyam Group, led by Bobby Swarup, and is backed by global investor J.C. Flowers & Co., ensuring strong capital support. Operations in GIFT City will be led by Sumit Aneja, an MBA from Cardiff University, with over 18 years of experience, including roles at Ernst & Young and Deloitte. This development further strengthens GIFT City’s position as a growing global hub for insurance and reinsurance. ICICI LombardBajaj General InsuranceHDFC ERGO General InsuranceTATA AIG General Insurance Company LimitedSBI General InsuranceLocktonAonAonGuy CarpenterMunich ReSwiss ReSCORGeneral Insurance Corporation of India (GIC Re)Bobby SwarupSima RupareliaSumit Aneja#india2047GIFT CityADNIC International LTDMapfrePeak RePartnerReEcho Reinsurance LimitedKOREAN RE

Insurance GIFT City India -FY 2024-25 GIFT City (Gujarat International Finance Tec-City) is India’s first operational International Financial Services Centre (IFSC), developed to compete with global financial hubs such as Singapore and Dubai. 36 insurance offices, including 20 reinsurers have commenced operations. In addition, 28 insurance brokers, 5 corporate agents, and one claims surveyor agency have also registered and operational as on date. This growing presence reflects GIFT City’s increasing significance as a global hub for insurance and reinsurance business. ICICI LombardBajaj General InsuranceSBI General InsuranceTATA AIG General Insurance Company LimitedHDFC ERGO General InsuranceMunich ReSwiss ReSCORLloyd'sGIFT CityGeneral Insurance Corporation of India (GIC Re)AonMarsh McLennan Agency Kuwait Reinsurance Company K.S.C.P.Echo Reinsurance LimitedPartnerReKOREAN RE

CEO – Generali Central Board of Generali Central approved the appointment of Krishnamoorthy Rao as the new Managing Director & CEO, wef April 1, 2026. Mr. Rao, an engineer by qualification, brings over three decades of rich experience in the insurance industry. He has previously held key roles with Bajaj Allianz and Future Generali India Insurance. Generali Central is a leading general insurer in India, backed by the Central Bank of India (PSU) and Assicurazioni Generali. ICICI LombardBajaj General InsuranceTATA AIG General Insurance Company LimitedSBI General InsuranceDigit InsuranceIFFCO Tokio General Insurance Co. Ltd.Cholamandalam MS General Insurance Co. Ltd.SHRIRAM GENERAL INSURANCE CO. LTD.Royal Sundaram General Insurance Co. LimitedKshema General Insurance LimitedGeneral Insurance Corporation of India (GIC Re)Generali Central Insurance #insurance Krishnamoorthy Rao

CEO – Allianz Jio Re India !! Allianz Jio Reinsurance Limited, a joint venture between Allianz SE and Jio Financial Services Limited (JFSL), has appointed Ms Sonia Rawal as the Chief Executive Officer (CEO) in India. An engineer and MBA by qualification, Ms Rawal brings over 15 years of diverse professional experience across global organisations. She has previously worked with P&G, Asia Risk Centre and is currently with Allianz Re Singapore since 2016, leading the India and ASEAN markets. Allianz Jio Re is one of the three India-based reinsurers currently enjoying first preference status across three categories in the order of reinsurance placement under the Indian regulatory framework. Beyond reinsurance operations, the joint venture partners have strategic plans to expand into the Direct General and Life insurance in India, reflecting their long-term commitment to the country’s rapidly evolving insurance landscape. AllianzMunich ReSwiss ReSCORLloyd'sGeneral Insurance Corporation of India (GIC Re)ICICI LombardBajaj General InsuranceHDFC ERGO General InsuranceTATA AIG General Insurance Company LimitedSBI General InsuranceDigit InsuranceIFFCO Tokio General Insurance Co. Ltd.GIFT CityInsurance Regulatory and Development Authority of IndiaIndusInd General InsuranceSingapore Reinsurers' AssociationLloyd's Market AssociationRGAAonAonGuy CarpenterSonia Rawal

Lloyd’s in GIFT City, India !! Lloyd’s of London, the world’s largest insurance and reinsurance marketplace, has received approval from IFSCA to commence operations at GIFT City, India. Two of Lloyd’s syndicates have already announced their plans to participate on the Lloyd’s platform in IFSC-GIFT City: Syndicate 2047 – promoted by Niyam Group and proposed to be headed by Devesh Srivastava Syndicate 2454 – promoted by ASR and proposed to be led by Laxmeekant Walikar This development further strengthens Lloyd’s presence in India, where it is already operating through a branch structure with Syndicate Markel as a Foreign Reinsurance Branch (FRB). The entry of Lloyd’s syndicates into IFSC-GIFT City is expected to deepen underwriting capacity, enhance specialty risk solutions, and further integrate India with the global reinsurance ecosystem. Munich ReSwiss ReAfrica Specialty RisksAfrican Reinsurance CorporationSCORGeneral Insurance Corporation of India (GIC Re)ICICI LombardBajaj General InsuranceGIFT CityHDFC ERGO General InsuranceSBI General InsuranceInsurance Regulatory and Development Authority of IndiaADNIC International LTDSaudi ReKuwait Reinsurance Company K.S.C.P.TATA AIG General Insurance Company LimitedKiwi General Insurance LimitedLloyd's #reinsurance #insurance

Arch Re Enters India !! Arch Re expands its global footprint with the launch of Arch Reinsurance Europe Underwriting DAC – India Branch at GIFT City (IFSC). A globally diversified reinsurer, Arch Re has a strong presence across North America, Europe and Asia The India operations will be led by Augustin Gas. This expansion highlights Arch Re’s commitment to strengthening its presence in high-growth Asian markets and supporting the evolving reinsurance landscape in India. Arch Re ANSR Munich Re Swiss Re SCOR GIFT City African Reinsurance Corporation Saudi Re ADNIC International LTD Kuwait Reinsurance Company K.S.C.P. General Insurance Corporation of India (GIC Re) ICICI Lombard Bajaj General Insurance SBI General Insurance Augustin Gas

Echo Re enters India !! Echo Re has received IFSCA approval to open its branch in GIFT City India. CEO Fabian Pütz said the step reflects the company’s strong commitment to India. CUO Paul Hertelendy highlighted India as a core portfolio pillar and a major growth opportunity. Regional Manager for the Indian Subcontinent Mr. Swapnil Soni added that the rise of GIFT City as a reinsurance hub will support wider insurance penetration and strengthen Echo Re’s service to clients across the region. Echo Re Ltd., a Zurich-based reinsurer ( rated A by S&P) is owned by Germany’s DEVK Group and provides P&C and specialty reinsurance across Asia-Pacific, the Middle East, Africa, Latin America, and the Caribbean. Echo Reinsurance Limited GIFT City Munich Re Swiss Re SCOR MAPFRE RE PartnerRe Kuwait Reinsurance Company K.S.C.P. Saudi Re Eurasia Insurance Company African Reinsurance Corporation Santam Insurance ADNIC International LTD #reinsurance Swapnil Soni Fabian Pütz (PhD) Paul Hertelendy

New MD – Misr Insurance Holding !! Bahia Ahmed Ismail has been appointed Executive Managing Director of Misr Insurance Holding Company (MIHC), Egypt. Ismail holds a postgraduate degree in Investment and Securities from the University of Reading (UK) and brings over 20 years of experience in investment and banking. Misr Insurance Holding Company is Egypt’s state-owned insurance holding company, overseeing key insurers including Misr Insurance and Misr Life Insurance. Misr Takaful Misr Insurance Misr Life Insurance Insurance FAIR . African Association of Young Insurance Professionals - YIPs Africa AIO - African Insurance Organisation Bahia A. Ismail African Reinsurance Corporation Royal Insurance Egypt GIG Egypt GIG Egypt Life Takaful Orient Takaful Insurance - Alfuttaim group Alliance Insurance P.S.C

New Secretary– GI Council !! Executive Committee of the General Insurance Council has chosen Mrs. Kasturi Sengupta as its new Secretary General. Mrs. Sengupta, a 1989 direct recruit, is a postgraduate in Science and brings over thirty-six yrs of experience in the insurance sector. She most recently served as ED at The New India Assurance. General Insurance Council represents non-life insurers in India. It operates under the Insurance Act, 1938 and represents the industry before the IRDAI on policy and regulatory matters. ICICI Lombard Bajaj General Insurance HDFC ERGO General Insurance TATA AIG General Insurance Company Limited SBI General Insurance IFFCO Tokio General Insurance Co. Ltd. Digit Insurance AGRICULTURE INSURANCE COMPANY OF INDIA LIMITED Universal Sompo General Insurance Co. Ltd. IBAI - Insurance Brokers Association of India