Mumbai, Aug 06: Bajaj General Insurance and Swiss Re Corporate Solutions have signed a memorandum of understanding (MoU) to explore a commercial insurance partnership in India. The partnership would bring together Bajaj General Insurance‘s strong local market presence with Swiss Re Corporate Solutions‘ global risk knowledge and commercial insurance capabilities.
Subject to definitive agreements and applicable regulatory requirements, the partnership aims to leverage Swiss Re Corporate Solutions‘ International Programs platform and develop structured insurance solutions for the Indian market. The ambition is to provide underwriting expertise in lines of business that are critical for the continued growth of the Indian economy, including high-tech and manufacturing sectors. The partnership also intends to offer international insurance programs for Indian companies operating abroad.
Globally, Swiss Re Corporate Solutions provides a wide spectrum of risk solutions for businesses – ranging from property insurance to specialist segments like Credit & Surety and including alternative risk transfer solutions like captives and parametric insurance. It is the commercial insurance arm of Swiss Re Group, one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Group operates through a network of around 70 offices globally – including Mumbai, Bengaluru and Hyderabad.
Ivan Gonzalez, CEO Swiss Re Corporate Solutions, said: “Multinational corporations increasingly expect insurers to combine deep local market expertise with global capabilities and seamless international execution. 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.”
Dr Tapan Singhel, MD & CEO Bajaj General Insurance, said: “India‘s growth story today is closely linked to the global economy. We are seeing Indian businesses expand across borders and global companies invest with confidence in India. Both need insurance partners who understand local realities while bringing world-class risk expertise and international capabilities to the table. Our partnership with Swiss Re Corporate Solutions is an important step in that direction. By combining Bajaj General Insurance‘s strong presence in India with Swiss Re Corporate Solutions‘ global network and commercial insurance expertise, we aim to support Indian companies wherever they do business and help multinational organisations navigate risks effectively in India. As risks continue to evolve, our responsibility is to ensure businesses have the protection, resilience, and confidence they need to grow and succeed.”