AIAI and Risk Exchange (DIFC) Limited forge partnership to foster economic growth

  • | Wednesday | 21st February, 2024

The All India Association of Industries (AIAI) and Risk Exchange (DIFC) Limited have signed a Memorandum of Understanding (MOU) to bolster their collaboration in promoting investment opportunities and trade across diverse geographies. The MOU, signed by Dr. Vijay Kalantri, President of AIAI, and Dr. AFTAB Hasan, Chairman of Risk Exchange, establishes a practical framework aimed at developing stronger business relations between the two entities. This strategic partnership seeks to facilitate and support top-notch reinsurance services for businesses, industries and large-scale international projects with Indian interests abroad as well as in India thereby fostering reciprocal economic objectives. AIAI, founded in 1956, is a non-political, non-governmental, not-for-profit industry interface dedicated to promoting entrepreneurship and facilitating industrial growth in India. With over 1500 members and representing over 50,000 industries through its affiliates, AIAI plays a pivotal role in driving economic development in the country. On the other hand, Risk Exchange (DIFC) Limited, a prominent name in the Middle East, Africa and Indian Subcontinent operating as a regulated entity under the Dubai Financial Services Authority (DFSA) legislation specializes in insurance and reinsurance brokerage services. As a subsidiary of Risk Exchange International Holdings Pte. Ltd. in Singapore, the company caters to clients in domestic and international reinsurance markets worldwide. Dr. Vijay Kalantri, President of AIAI, expressed optimism about the collaboration, stating, "This partnership with Risk Exchange marks a significant milestone in our efforts to enhance economic growth and create impactful opportunities in the global reinsurance marketplace. We aim to provide innovative insurance and reinsurance services to our members from across the trade spectrum from our diverse business sectors. Dr. AFTAB Hasan, Chairman of Risk Exchange, echoed similar sentiments, highlighting the potential for mutual growth and success through the strategic alliance to support the reinsurance requirements of the member companies from a diverse array of activities. The partnership will enable Risk Exchange to support with their sound knowledge, and experience in the reinsurance market to better serve large Indian risk abroad across the globe with special attention within the Middle East, Africa, and Indian subcontinent.

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