Value Attics Reinsurance has made history by becoming the first private-sector reinsurer in India, following the issuance of a license from the Insurance Regulatory and Development Authority of India (Irdai). With the backing of prominent figures like Prem Watsa and Kamlesh Goyal from the Fairfax group, the company is poised to tap into international reinsurance expertise to offer innovative solutions in the Indian market. Starting off with a substantial paid-up capital of Rs 200 crore, Value Attics Reinsurance is gearing up to commence its operations in the near future. This development marks a significant milestone in the Indian insurance landscape, paving the way for enhanced competition and diversity in the reinsurance sector.