Swiss Re Ltd. and XL Catlin received permission from India's Insurance Regulatory and Development Authority to set up branches in Mumbai.
Swiss Re's branch will open Feb. 1 and be known as Swiss Reinsurance Co. Ltd., India branch. It will offer nonlife and life and health reinsurance solutions directly to clients and brokers in the country.
The branch will be headed by Kalpana Sampat, managing director of Swiss Re Services India Private Ltd.
XL Catlin's operation in the country will be a branch office of XL Insurance Co. SE. It will be led by Joseph Augustine as branch CEO and is slated to be open in time for the April 1 renewal period.
The office will provide treaty and facultative reinsurance.
XL Catlin is the global brand of XL Group Ltd's insurance and reinsurance companies.