Value Attics Reinsurance, backed by Fairfax group’s Prem Watsa and Kamlesh Goyal, has made history by becoming the first private-sector reinsurer in India to receive a licence from the Insurance Regulatory and Development Authority of India (Irdai). With a paid-up capital of Rs 200 crore, the company is poised to tap into international reinsurance expertise as it gears up to commence operations in the near future. This milestone marks a significant development in the Indian insurance sector, opening up new avenues for private players to enhance the reinsurance landscape in the country. Value Attics Reinsurance’s entry into the market is expected to bring greater competition and innovation, ultimately benefiting consumers and the industry as a whole. With a strong backing from industry veterans and a clear vision for growth, the company is well-positioned to make a lasting impact on the reinsurance market in India.