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International & Specialty Risk

From India. To the world’s insurance markets.

Specialised insurance and reinsurance solutions for complex corporate risks. We start with your exposure, structure the programme, then explore the markets that fit, including GIFT IFSC where suitable and permitted.

Discuss a risk Explore the opportunity

IndiaGIFT CityInternational marketsSubject to regulation, underwriting and market capacity

  • Risk firstYour exposure is understood before any market is approached.
  • Every routeDomestic, specialty, IFSC and reinsurance are all considered.
  • Beyond placementWe stay on through servicing, claims and renewal.

A wider route for complex risk.

Some risks place easily. Others need more capacity, specialist underwriting or a structure with several participants. For suitable risks, India’s IFSC ecosystem adds routes worth exploring, subject to regulation, market participation and underwriting.

Wider market possibilities

Complex risks may need different insurers, reinsurers or specialty underwriting markets than a routine renewal.

Specialist expertise

Some exposures need technical understanding and underwriters who write that class of risk every day.

Structured solutions

Large risks can be split across layers, participants, limits and deductibles into one coherent programme.

One authority for India’s international financial centres.

IFSCA is the International Financial Services Centres Authority. It develops and regulates financial products, financial services and financial institutions in India’s International Financial Services Centres (IFSCs).

Insurance and reinsurance sit alongside banking, capital markets and fund management within that ecosystem.

IFSCA Act, 2019The law that created the authority
GIFT City, GujaratHome of India’s first IFSC
IFSCA
The regulator. A unified authority for financial services in India’s IFSCs.
IFSC
The jurisdiction. An International Financial Services Centre, a zone built for internationally oriented financial activity.
GIFT City
The place. Gujarat International Finance Tec-City, near Gandhinagar, home to India’s first IFSC.
SEZ
The legal base. The GIFT IFSC is set up within a Special Economic Zone, which is why SEZ authorities such as the Kandla SEZ Development Commissioner handle some of its administration, while IFSCA regulates the financial activity.

Novo Insure is not IFSCA and is not a regulator. This page explains the framework so you can decide whether an IFSC route is worth discussing for your risk.

Who does what in the IFSC insurance market.

You don’t need the legal detail to start a conversation, but it helps to know the participants and how risk moves between them.

IFSC-specific participants

IFSC Insurance Offices (IIOs)

Insurance or reinsurance operations authorised within the IFSC framework to carry on permitted insurance business.

IFSC Insurance Intermediary Offices (IIIOs)

Intermediary operations registered with IFSCA, with activities limited by their category and authorisation.

Roles in any insurance market

Businesses

Companies with insurable risks that need a suitable solution.

Insurers and reinsurers

Insurers accept risk from businesses; reinsurers take on part of the risk that insurers accept.

Intermediaries

Authorised entities that connect requirements to markets, within the scope of their permissions.

  1. Your businessThe exposure and what it must protect.
  2. Advisory and structuringThe requirement is defined and taken to market.
  3. InsurerAccepts the risk on agreed terms.
  4. Reinsurance and additional capacitySupports the insurer on large or specialist risks.

Illustrative only. Actual structures depend on the risk, the jurisdiction and the authorisation of each participant.

International orientation

The IFSC is designed around internationally oriented financial activity.

Insurance and reinsurance ecosystem

Insurers, reinsurers and intermediaries operate as part of the wider centre.

Specialist capacity

Suitable risks may find specialist underwriting capacity worth exploring.

Financial infrastructure

Insurance sits alongside banking, capital markets and funds in one centre.

Currency flexibility

Certain structures may involve foreign currencies, where the rules permit.

Reinsurance activity

The IFSC framework also supports reinsurance-related business.

All opportunities are subject to applicable regulations, authorisations, underwriting criteria, jurisdictional requirements and the availability of participating markets.

From business risk to the right market capacity.

Every engagement follows the same route. The market is chosen at step three, after the risk is understood and structured, not before.

  1. You share

    Business profile, locations, asset values, key contracts and loss history.

    You get

    A clear picture of the exposure and what matters most to protect.

  2. You share

    Required limits, contractual obligations and your appetite for deductibles.

    You get

    A defined insurance requirement: coverage, limits, layers and territories.

  3. You share

    Your priorities: breadth of cover, capacity, cost and currency.

    You get

    A recommended route with reasons, including whether an IFSC route suits the risk or not.

  4. You share

    Your go-ahead to approach markets.

    You get

    A market submission prepared and presented to suitable insurers.

  5. You share

    Your questions on the terms that come back.

    You get

    A side-by-side comparison in plain language, with the trade-offs spelled out.

  6. You share

    Your decision.

    You get

    Placement, documentation, endorsements, claims coordination and a review before renewal.

Step 01 of 06

Understand the risk

You share

Business profile, locations, asset values, key contracts and loss history.

You get

A clear picture of the exposure and what matters most to protect.

The goal isn’t an IFSC placement at any cost. It’s the right solution for the risk.

What are you trying to protect?

Pick the closest match. Each one opens the enquiry form with that requirement already selected.

When conventional placement may not be enough.

These situations can make broader or specialist capacity worth exploring. None of them guarantees that an alternative route applies; it depends on the risk.

Large limits

A single insurer may not wish, or be able, to retain the full amount of a very large exposure.

Layered programmes

Cover can be built across attachment points, with different participants at each layer.

Several market participants

One risk may need capacity from more than one insurer.

Specialist underwriting

Technically demanding risks need underwriters who know the class.

International operations

Multi-country operations add legal, contractual and programme complexity.

Contract-driven insurance

Lenders, investors and project contracts can set demanding insurance obligations.

Catastrophe exposure

Significant natural-catastrophe or accumulation exposure needs careful capacity planning.

Specialty liability

High-limit cyber, financial, professional or environmental liability may need specialist markets.

Reinsurance structures

Where appropriate, reinsurance supports risk transfer beyond standard direct arrangements.

Complex risk needs more than a quote.

What Novo Insure does for you, in the order we do it.

Understand

We start with your business: assets, locations, contracts, financial exposure, loss experience and objectives.

Structure

We translate the exposure into coverage, limits, deductibles, layers, territories and programme design.

Access

We identify insurance or reinsurance markets that fit the risk, within the applicable frameworks.

Negotiate

We work through coverage, pricing, capacity, deductibles, conditions, exclusions and wording.

Place

We coordinate documentation and placement once suitable terms are agreed.

Support

We stay on for endorsements, renewals, claims coordination and programme reviews.

Company details and business scope.

Verified details about the entity you would be dealing with and the work it handles.

Legal entity
Novo Insurance Broking Services Pvt. Ltd.
Regulator
Insurance Regulatory and Development Authority of India (IRDAI)
Licence category
Composite Broker
Sectors
Infrastructure, manufacturing, energy and renewables, logistics, ports and marine, technology and large commercial enterprises
Geographical reach
Indian businesses and their overseas operations, projects and trade flows
Registered office
6th Floor, Pranava's One Hyderabad – Commercial, 6-5-654 Punjagutta Road, Raj Bhavan Quarters Colony, Somajiguda, Hyderabad, Telangana – 500082

How is this different from domestic insurance?

Neither route is automatically better. The choice depends on the risk, the cover you need and which markets can accept it.

Domestic insurance

Typically covers domestic risks under domestic regulation, through relationships with Indian insurers, using standard or customised corporate covers.

International and IFSC-related solutions

Depending on eligibility and structure, may involve internationally oriented activity, specialist capacity, reinsurance, more participants, complex programmes and permitted currency arrangements.

Coverage requirementRegulationMarket capacityJurisdictionPricing and termsYour objectives

The question isn’t domestic versus international. It’s the right market for the right risk.

Insurance

ClientInsurer

Your business transfers an agreed portion of its financial risk to an insurer.

Reinsurance

ClientInsurerReinsurer

The insurer transfers part of the risk it accepted to another risk carrier. It supports large exposures, catastrophe risk, high-value assets and extra market capacity. A corporate client doesn’t normally buy reinsurance directly.

One risk doesn’t always mean one policy or one insurer.

Illustrative only. Real programmes vary by risk, market and wording.

Deductible

The part of each loss your business keeps before insurance responds.

Primary layer

The first level of insurance protection, responding from the deductible up to its limit.

Excess layer

Additional cover that attaches above an underlying limit. Large programmes may stack several.

Co-insurance

More than one insurer sharing the same layer, each taking an agreed percentage.

Specialty capacity and reinsurance

Capacity from markets that specialise in a class of risk, or risk an insurer transfers on to a reinsurer.

Built for businesses where risk is rarely simple.

The sectors where these conversations come up most often.

Infrastructure

Major projects, assets, contractors and operational risks.

Manufacturing

Plants, machinery, business interruption and liability.

Energy

Generation, transmission and operational exposures.

Renewables

Solar, wind, storage and renewable infrastructure.

Logistics

Cargo, warehouses, transport and supply-chain exposure.

Ports & marine

Port infrastructure, marine liabilities and maritime risks.

Aviation

Aviation assets and associated specialty risks.

Technology

Cyber, professional liability, data and digital exposures.

Financial services

Professional, management, cyber and financial risks.

Healthcare

Complex assets, professional exposures and operations.

Large enterprises

Businesses that need sophisticated corporate programmes.

Exporters & importers

International trade and cargo exposures.

You may need a broader conversation when…

  • Your existing limits look insufficient
  • Your insurer can’t provide all the capacity you need
  • A lender or contract requires higher limits
  • Your operations span several countries
  • Your risk is unusual or technically complex
  • Your industry needs specialist underwriting
  • Your project carries significant catastrophe exposure
  • You need several insurers to participate
  • You want to know whether an IFSC route could be appropriate
Discuss your risk

What to have ready

Not all of it is needed for a first call. The more we have, the faster markets can assess the risk.

  • Company profile and nature of business
  • Locations and asset values
  • Current insurance programme and policy copies
  • Claims and loss history
  • Required coverage and limits
  • Contractual insurance obligations
  • Risk-management and technical reports, where available
  • Desired policy period and international operations
The better a risk is understood, the better markets can assess it.

What happens after you contact us.

Nine steps from first message to renewal. You make the decision at step seven, with every option explained.

  1. 01You tell us about the requirement.
  2. 02We understand the business and the exposure.
  3. 03We list any further information needed.
  4. 04We analyse and structure the requirement.
  5. 05We consider suitable market routes.
  6. 06We compare terms and explain them.
  7. 07You make an informed decision.
  8. 08We coordinate placement and documents.
  9. 09We stay on for servicing, claims and renewal.

One risk. Wider markets.

The right insurance solution starts with understanding the risk, not with choosing a product.

Questions about IFSCA insurance.

Not covered here? Ask in the enquiry form and we’ll answer directly.

What is IFSCA?

The International Financial Services Centres Authority. It was established on 27 April 2020 under the IFSCA Act, 2019, to develop and regulate financial products, services and institutions in India’s International Financial Services Centres.

What is GIFT City?

Gujarat International Finance Tec-City, near Gandhinagar in Gujarat. It is the location of India’s first IFSC.

What is an IFSC?

An International Financial Services Centre: a jurisdiction set up to host internationally oriented financial activity such as banking, capital markets, funds, insurance and reinsurance.

Is Novo Insure part of IFSCA?

No. IFSCA is a statutory regulator. Novo Insure is an insurance broker, and the company details section above shows the registrations we hold.

Does IFSCA replace IRDAI?

No. IRDAI regulates insurance in India’s domestic market. IFSCA regulates financial services, including insurance, within the IFSCs. Which framework applies depends on the transaction, and some transactions involve both.

Is every business eligible?

No. Eligibility and permitted structures depend on the applicable regulations and the specific transaction.

Is every policy available through GIFT City?

No. Many risks are best placed in the domestic market.

What is an IIO?

An IFSC Insurance Office: an insurer’s or reinsurer’s operation authorised to carry on permitted insurance business in an IFSC.

What is an IIIO?

An IFSC Insurance Intermediary Office: a broker or other intermediary registered with IFSCA to operate in an IFSC, within the limits of its category.

What is reinsurance?

Insurance for insurers. An insurer transfers part of the risk it has accepted to a reinsurer, which lets it take on larger or more specialised risks.

Why explore international markets?

For specialist underwriting, additional capacity or complex programme needs that the domestic market can’t fully meet on suitable terms.

Are international policies always cheaper?

No. Coverage, capacity, wording, exclusions, the insurer’s financial strength and price all matter, and we compare them together.

Can foreign currencies be involved?

Certain permitted structures may involve foreign currencies, subject to the applicable rules.

Can Novo Insure guarantee placement?

No. Placement depends on underwriting, regulation, market appetite, the information available and capacity.

How do we start?

Send the enquiry form below or call us. A first conversation needs only a short description of the business and the risk.

Official information.

Primary sources for the frameworks mentioned on this page. Each link opens the official site in a new tab.

IFSCAInternational Financial Services Centres Authority: regulations, circulars and registered entities.ifsca.gov.in (opens in a new tab) IRDAIInsurance Regulatory and Development Authority of India: domestic insurance regulation and licensed intermediaries.irdai.gov.in (opens in a new tab) GIFT SEZGIFT City’s Special Economic Zone: the zone that hosts the IFSC.giftgujarat.in/gift-sez (opens in a new tab) KASEZKandla Special Economic Zone: the Development Commissioner’s office for SEZ administration.kasez.gov.in (opens in a new tab) DGFTDirectorate General of Foreign Trade: Importer-Exporter Code (IEC) and trade policy.dgft.gov.in (opens in a new tab) FIU-IndiaFinancial Intelligence Unit – India: reporting obligations for regulated entities.fiuindia.gov.in (opens in a new tab)

Your risk may be complex. Starting the conversation shouldn’t be.

Tell us about the business, the exposure or the requirement. We’ll help you understand the risk and the market options that fit it.

Corporate risk, international markets, specialty insurance and reinsurance.

Phone and WhatsApp+91 91005 09675
Head office6th Floor, Pranava's One Hyderabad – Commercial, 6-5-654 Punjagutta Road, Raj Bhavan Quarters Colony, Somajiguda, Hyderabad, Telangana – 500082

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Important information

Information on this page is for general educational and informational purposes only. References to IFSC, IFSCA, international insurance, reinsurance or market access are not a guarantee of eligibility, placement, capacity, pricing or regulatory approval.

Insurance and reinsurance opportunities are subject to applicable laws and regulations, the authorisation of participating entities, underwriting requirements, market appetite, jurisdiction, risk eligibility and available capacity. Insurance is the subject matter of solicitation.