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    <description>Eligibility to establish a branch in the IFSC as a managing general agent is restricted to applicants with a valid home-country registration or licence for MGA-like activities, cross-border recognition, and no-objection from the home regulator, or otherwise to entities incorporated in the IFSC under the Companies Act, 2013. The applicant must have a written contract with a foreign insurer for direct insurance business and must satisfy prescribed conditions relating to the insurer&#039;s licence, compliance record, net worth, credit rating, tax treaty registration, board undertaking, disclosure obligations, and compliance with regulatory requirements.</description>
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