Saudi Re has appointed Ruchi Jain as Principal Officer of its insurance office in India’s Gujarat International Finance Tec-City (GIFT) City, the reinsurer announced on LinkedIn.
The appointment comes as the company prepares to operationalise its branch in GIFT City, a growing hub for cross-border insurance and reinsurance activity. In January, Saudi Re formally announced its India expansion at a launch event held in Mumbai.
Previously, Jain held senior roles across reinsurance underwriting and client management at Swiss Re. Her experience spans structuring reinsurance solutions, portfolio management and building relationships with insurers.
Notably, this marks the second instance of a GIFT City reinsurer hiring a former Swiss Re executive to lead India operations. Earlier this month, Mapfre Re named former Swiss Re executive Chaturbhuj Bansal as the head of its India unit.
Jain brings extensive experience across insurance and reinsurance, and “will play a key role in strengthening our presence in the Indian market and delivering innovative reinsurance solutions to our clients and partners,” Saudi Re said.
Asia contributes around 22% of Saudi Re’s portfolio, underscoring the region’s importance to the reinsurer. The company operates a Malaysian branch, established in 2014, with the GIFT City office marking its second Asian presence.
There’s been a significant rise in the number of global (re)insurers and intermediaries looking to leverage GIFT IFSC’s regulatory and tax environment. In FY2026, the number of insurance offices doubled to 36, up from 18 in March 2025.
Kuwait Re, MAPFRE Re, Echo Re, PartnerRe, and Abu Dhabi National Insurance are some of the notable names to have secured approvals in 2026 to operate from GIFT City.
