Uday Opal is a Partner at the Firm and helps lead the Firm’s Insurance & Reinsurance practice.

Uday is widely recognised as a go-to adviser for the full spectrum of non-contentious and contentious insurance matters, corporate governance, emerging tech, data protection and acts for many of the world’s largest (re)insurance groups, leading intermediaries, private equity sponsors, investors, conglomerates, statutory industry bodies, insurtechs and fintechs. He combines deep sectoral knowledge with a practical appreciation of commercial objectives, enabling him to deliver strategic, technically assured and solution-oriented advice across the life, non-life and reinsurance markets.

Over the past years, Uday has played an active role with contributions to help shape policies for the Indian insurance sector. Most recently, he was part of the Confederation of Indian Industry’s (CII) Working Group on the Creation of a Reinsurance Hub, formed under the CII National Committee on Insurance & Pensions constituted in August 2023.

In 2022, Uday assisted the thematic working group constituted by the IRDAI for deliberating on the various issues and challenges impacting the life insurance sector. Uday has also worked closely with BCG, the business and strategic management consultant engaged for the restructuring of the NPS as well as the PFRDA.

On the disputes side, Uday works seamlessly with the Firm’s disputes practitioners and leading senior counsel to represent insurers, reinsurers, intermediaries and corporates in high-value coverage disputes, arbitration and court proceedings, appeals before the Supreme Court and the SAT on regulatory matters and in intermediary or insurer–reinsurer disagreements. His detailed grasp of policy wordings and market practice enables him to provide decisive advice on coverage positions and claims strategy from the earliest stage, including engagement with loss adjusters and surveyors.

Select Experience Statement

• Bajaj Finserv Limited on regulatory aspects and IRDAI applications with respect to acquisition of Allianz’s 26% stake in the joint venture of Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Life Insurance Company Limited.
• Zurich Insurance Group and Markel on navigating the local regulatory framework in connection with their reinsurance offerings and arrangements.
• Lloyd’s on entry strategy for India and setting up a reinsurance branch office.
• Swiss Re on setting up its branch office in India, regulatory framework governing reinsurance arrangements and treaty wordings.

A detailed experience statement can be shared on a confidential basis.

Professional Memberships

• Karnataka State Bar Council: July, 2012

Education

• B.A. LL.B., National Law University, Jodhpur