Ivan Gonzalez,CEO, Swiss Re Corporate Solutions said: “Our partnerships with Bajaj General Insurance and GNP Seguros mark the beginning of a new era in how we serve clients in India and Mexico, two of the world’s fastest-growing commercial insurance markets. Together, we will continue to 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.”
Zurich:Swiss Re, the largest global reinsurer, today announced it is establishing exclusive partnerships with Bajaj General Insurance in India and GNP Seguros in Mexico to serve large companies in these two countries.
The partnerships of Swiss Re Corporate Solutions with Bajaj General Insurance, the second largest private sector general insurer in India and GNP Seguros will provide insurance solutions to the growing number of large Indian and Mexican companies – many of which are expanding internationally – while also supporting global clients with operations in India and Mexico.
Ivan Gonzalez, CEO Swiss Re Corporate Solutions: “Multinational corporations increasingly expect insurers to combine deep local market expertise with global capabilities and seamless international execution. By working with local insurers, we can build on our underwriting expertise, capital strength and global reach to better support our corporate clients while creating a scalable platform for long-term growth.”
In line with these ambitions, Swiss Re Corporate Solutions is partnering with Bajaj General Insurance in India, subject to definitive agreements and applicable regulatory requirements.
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.
Tapan Singhel, MD & CEO, Bajaj General Insurance, said: “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 Solutionsis 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.”
In Mexico, Swiss Re Corporate Solutions is partnering with GNP Seguros. Subject to regulatory approvals, Swiss Re Corporate Solutions will transfer its direct commercial insurance portfolio in Mexico to GNP Seguros as part of a long-term strategic collaboration that will enable it to continue serving clients in Mexico through GNP Seguros’ distribution network.
The partnership brings together GNP Seguros’ strong local market presence with Swiss Re Corporate Solutions’ global risk knowledge and commercial insurance capabilities.
Ivan Gonzalez said: “Our partnerships with Bajaj General Insurance and GNP Seguros mark the beginning of a new era in how we serve clients in India and Mexico, two of the world’s fastest-growing commercial insurance markets. Together, we will continue to 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.”
Earlier Lloyd’s of London had partnered with ICICI Lombard General Insurance, the largest private sector general insurer in India, to act as its local partner in India. This agreement lets ICICI Lombard issue local admitted policies on behalf of Lloyd’s managing agents for select multinational business lines, streamlining regulatory compliance and risk placement in India..
