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Mapfre Re, the reinsurance subsidiary of the Spanish group Mapfre, received approval from the International Financial Services Centres Authority (IFSCA) on 9 February 2026 to establish a branch in India, one of the world’s most attractive insurance markets.
The new branch will be located in the state of Gujarat.
This move reinforces the reinsurer’s presence in India, where it has been underwriting business for over a decade.
According to Mapfre Re, the Indian insurance market is currently experiencing strong growth, driven by the dynamism of the national economy, rising demand for insurance products, and a favorable regulatory environment.
