Bajaj General Insurance ties up with Swiss Re for commercial partnership

Partnership will use Swiss Re's international platform to offer structured risk solutions to Indian companies

Bajaj General Insurance said on Thursday it had signed a memorandum of understanding with Zurich-based Swiss Re Corporate Solutions to set up a commercial insurance partnership in India.

 

The partnership will tap into India’s expanding commercial insurance market by combining structured risk solutions with underwriting expertise for high technology, manufacturing and other high-growth sectors.

 

Under the proposed arrangement, subject to regulatory approvals and definitive agreements, the two companies will use Swiss Re’s International Programs platform.

 

This will enable Bajaj General Insurance to structure international insurance programmes for Indian multinational companies expanding overseas, while offering tailored risk solutions to global companies investing in India.

 

 

Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, brings expertise in property insurance, specialty lines such as credit and surety, and alternative risk transfer solutions, including captive and parametric insurance.

 

The partnership comes at a time when Indian companies are expanding their global footprint and foreign direct investment into the country remains robust, driving demand for sophisticated commercial insurance solutions.

 

Ivan Gonzalez, chief executive officer of Swiss Re Corporate Solutions, said: “India is the fastest-growing major commercial insurance market in the world, and we are exploring new ways to better serve corporate clients in this dynamic market with Bajaj General Insurance. Together, we can build on our complementary strengths, broaden the solutions we bring to market, and help businesses navigate an increasingly interconnected risk landscape with confidence and resilience.”

 

Tapan Singhel, managing director and chief executive officer of Bajaj General Insurance, said: “Indian businesses are expanding across borders, and global companies are investing with confidence in India. Both need insurance partners who understand local realities while bringing world-class risk expertise.”

 

Bajaj General Insurance, a subsidiary of Bajaj Finserv, has a distribution network spanning nearly 1,500 towns and cities across India.

 

The partnership is expected to strengthen its commercial insurance portfolio, which includes fire, marine, engineering, liability and surety insurance products.

 

Separately, Bajaj Finserv’s board recently approved the incorporation of a subsidiary to enter the reinsurance business.