Bajaj General Insurance, Swiss Re Group arm ink MoU for commercial insurance partnership
Bajaj General Insurance and Swiss Re Corporate Solutions have signed an MoU to collaborate on commercial insurance products for the Indian market. The partnership aims to provide underwriting expertise for high-tech and manufacturing sectors.
Why it matters
This partnership signals growth in India's commercial insurance sector and an effort to provide global risk management standards to domestic companies.
Bajaj General Insurance (formerly Bajaj Allianz General Insurance Company) and Swiss Re Corporate Solutions have signed a memorandum of understanding (MoU) to explore a commercial insurance partnership in India.
The partnership, subject to definitive agreements and applicable regulatory requirements, aims to leverage Swiss Re Corporate Solutions’ international programmes platform and develop structured insurance solutions for the Indian market.
The plan is to provide underwriting expertise in lines of business that are critical for the Indian economy, including high-tech and manufacturing sectors. It is also proposed to offer international insurance programmes for Indian companies operating abroad.
“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,” Swiss Re Corporate Solutions CEO Ivan Gonzalez said.
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