IndiaFirst Life Insurance Launches First IFSC Insurance Office in GIFT City

Tags: National News

IndiaFirst Life Insurance Company Limited has launched its International Financial Services Centre (IFSC) Insurance Office (IIO) at GIFT City, Gandhinagar, Gujarat.

An Overview of the News

• This makes IndiaFirst Life the first Indian life insurer to operate in GIFT City.

Product Offering:

• IndiaFirst Life introduces the 'IndiaFirst Life Wealth Wise Plan,' a Unit Linked Insurance Plan (ULIP) specifically designed for global Indians.

• The plan is denominated in US dollars and aims to cater to international consumers seeking long-term wealth and legacy creation.

Expansion Strategy:

• The initiative focuses on reaching international customers through partner banks and selected broker partners.

• Current shareholders of IndiaFirst Life include Bank of Baroda (BoB), Union Bank of India (UBI), and Carmel Point Investments India Private Limited (CPIIPL).

IndiaFirst Life Insurance Company Limited

• Established- 2009

• Headquarters- Mumbai, Maharashtra

• MD & CEO- Rushabh Gandhi