Starr Authorised to Offer Re: Global insurance and investment giant Starr Insurance Companies has announced a significant milestone in its international growth strategy with the establishment of a new branch office in India’s premier financial hub — the Gujarat International Finance Tec-City (GIFT City). The company has received official registration from the International Financial Services Centres Authority (IFSCA), authorizing it to conduct both general insurance and reinsurance business through its newly formed IFSC Branch.
This development marks Starr’s formal entry into India’s growing financial ecosystem at GIFT City, which has quickly evolved into a global hub for insurance, reinsurance, and financial services. Starr’s expansion aligns with India’s goal of attracting international financial institutions to the IFSC framework, strengthening the country’s position as a regional re/insurance hub.
The move also reflects Starr’s long-term commitment to enhancing its presence across Asia and supporting local markets with advanced underwriting capabilities, global capacity, and specialized risk solutions tailored to regional needs.
About Starr Insurance: A Global Leader in Specialty Insurance
Starr Insurance is a leading insurance and investment organization with operations across multiple continents. The company offers a wide range of commercial property and casualty products, along with specialty coverages such as:
- Aviation insurance
- Marine insurance
- Energy and power sector coverage
- Excess casualty insurance
With decades of experience in complex risk management, Starr has built a reputation for underwriting excellence, innovation, and delivering customized insurance solutions to businesses around the world.
New Branch Authorised to Offer General and Reinsurance Business
The newly registered IFSC Branch in GIFT City is authorised to conduct both general insurance and reinsurance operations, a dual mandate that will enable Starr to collaborate more closely with local insurers and brokers.
This license opens up opportunities for Starr to underwrite specialty and large-scale risks across India and neighbouring markets, leveraging its international expertise in complex sectors such as energy, infrastructure, aviation, and marine.
This approach underscores Starr’s intention to enhance the technical capabilities of India’s insurance market while offering robust reinsurance support to local carriers.
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Leadership Appointment: Raviganesh Madhavan to Lead IFSC Branch
To lead its new Indian operations, Starr has appointed Raviganesh Madhavan as the Principal Officer of the IFSC Branch. Madhavan brings nearly two decades of underwriting experience, specializing in risk assessment and portfolio management across the onshore energy, power, and property sectors.
Madhavan’s Extensive Industry Background
- Joined Starr Insurance in August 2023 as Senior Underwriter, managing downstream energy, power, property, and construction portfolios across India, Malaysia, and the Middle East.
- Previously served as Underwriter for Syndicate & International Property, Power, Renewables, and Mining at Lloyd’s Syndicate 2880.
- Spent 13 years at Swiss Re, one of the world’s leading reinsurers, in multiple underwriting roles focused on global property and energy risks.
His deep technical expertise and leadership experience will be instrumental in driving Starr’s underwriting strategy and operational excellence in India’s IFSC environment.
Strategic Significance of GIFT City Expansion
GIFT City has emerged as a strategic international financial services hub, attracting global insurers, reinsurers, and financial institutions seeking access to India’s dynamic market and regional trade opportunities.
Starr’s establishment of its IFSC Branch represents:
- A key step in expanding its Asia-Pacific footprint.
- A commitment to supporting local market development through advanced risk management expertise.
- A move to leverage India’s growing infrastructure and energy sectors, which demand sophisticated insurance and reinsurance solutions.
By operating from GIFT City, Starr gains access to a favorable regulatory framework, tax benefits, and proximity to major Indian and global clients — positioning itself as a leading partner for complex risk underwriting in the region.
Conclusion
The launch of Starr’s IFSC Branch in GIFT City is a landmark moment in the company’s global expansion and a testament to its confidence in India’s insurance and reinsurance market potential. With a focus on providing specialized coverage and high-value risk solutions, Starr aims to bridge international expertise with local market needs.
Under the leadership of Raviganesh Madhavan, the branch is well-positioned to strengthen Starr’s relationships with brokers, insurers, and corporates in India and beyond. The company’s entry also supports India’s vision of developing GIFT City into a global financial powerhouse, fostering greater innovation and collaboration within the insurance sector.
As tariffs, trade dynamics, and industry risks evolve globally, Starr’s presence in India will help bolster the resilience of regional markets through tailored insurance and reinsurance solutions. Its strong leadership, technical proficiency, and global reach make it a valuable addition to the rapidly expanding GIFT City ecosystem.
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Frequently Asked Questions
1. What is Starr Insurance’s new authorization in GIFT City?
Starr Insurance has received official registration from the International Financial Services Centres Authority (IFSCA) to establish a branch office in GIFT City, India. The new branch is authorised to conduct both general insurance and reinsurance business, expanding Starr’s footprint in the Indian financial market.
2. What is the significance of GIFT City for global insurers like Starr?
GIFT City serves as India’s premier international financial hub, offering a favorable regulatory and tax environment for global financial and insurance firms. For companies like Starr, it provides a platform to access India’s growing insurance market while offering reinsurance capacity to local insurers.
3. Who is Raviganesh Madhavan, and what role will he play?
Raviganesh Madhavan has been appointed as the Principal Officer of Starr’s IFSC Branch. With nearly 20 years of underwriting experience, he will oversee the branch’s operations, focusing on risk assessment, portfolio management, and growth within energy, property, and construction insurance lines.
4. How will Starr’s presence in India benefit the local insurance market?
Starr’s entry into GIFT City brings global underwriting expertise, reinsurance capacity, and technical knowledge to India’s insurance ecosystem. This will help local insurers manage specialty and large-scale risks more effectively, promoting innovation and competition in the market.
5. What types of insurance products does Starr offer globally?
Starr Insurance provides a wide range of commercial and specialty insurance solutions, including property and casualty, aviation, marine, energy, and excess casualty insurance. The company also offers customized reinsurance products and investment services across multiple global markets.
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