Bajaj General Insurance, Swiss Re team up for commercial insurance in India

The plan 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 programmes for Indian companies operating abroad.

India’s position

“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,’’ Ivan Gonzalez, CEO Swiss Re Corporate Solutions said in a release on Thursday. 

Tapan Singhel, MD & CEO, Bajaj General Insurance, said,“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.’’

Swiss Re Corporate Solutions provides a wide spectrum of risk solutions for businesses, ranging from property insurance to specialist segments like credit and surety, and including alternative risk transfer solutions like captives and parametric insurance. 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.