EarthRe Gets GIFT City Reinsurance Licence as Parent Closes $27M Series A

InRisk Labs is a technology-led risk and reinsurance platform that builds the group's data and risk-intelligence infrastructure. EarthRe uses that platform to underwrite across the region. The Series A was co-led by existing investors Bessemer Venture Partners and Northpoint Capital. The funds will go toward regulatory capital for EarthRe's expansion, as well as strengthening the firm's underwriting, actuarial, catastrophe-modelling and AI capabilities. InRisk Labs also plans to broaden its coverage across nat cat and climate risk.

Malay Kumar Poddar, EarthRe's chief executive, said the licence marks a shift in how India builds its own reinsurance capacity. India will be the most consequential insurance market over the next two decades, he said, and cannot be built on borrowed balance sheets. The GIFT City framework allows homegrown capacity to be built and keep underwriting judgment on Indian risk in India.

The move positions EarthRe against larger international reinsurers that have long dominated the Indian market through branches. The new licence gives a regulated base inside India to write local risk directly, rather than relying on offshore capacity. EarthRe described the IFSCA approval as a milestone for India's domestic reinsurance ecosystem.