Tata AIA Life Insurance (Tata AIA) has launched its offshore branch at Gujarat International Finance Tec-City (GIFT City), India's first International Financial Services Centre (IFSC). It allows the company to offer US Dollar-denominated life insurance products to Non-Resident Indians (NRIs) through its dedicated website.
With the opening of the GIFT City branch, Tata AIA plans to cater to the unique needs of the NRI community.
By offering dollar-denominated policies, the company will provide greater flexibility and convenience to NRIs seeking to secure their families' financial future.
“The setting up of IFSC GIFT City is a remarkable step by the Government of India towards widening the scope of Indian financial services. It provides a great opportunity for insurers to provide foreign currency denominated products.
“We are delighted to introduce life insurance solutions for our NRI consumers, enabling them to secure their families and fulfil their aspirations,” said Mr Venky Iyer, Managing Director & Chief Executive Officer of Tata AIA.