Divya Agarwal
Pune (Maharashtra) [India], August 6: Bajaj General Insurance Limited (formerly known as Bajaj Allianz General Insurance Company Limited), one of India’s leading private general insurers, 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 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 programs for Indian companies operating abroad.
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.”
About Bajaj General Insurance
Bajaj General Insurance Limited (formerly known as Bajaj Allianz General Insurance Company Limited) is one of India’s leading, most trusted and dynamic private general insurance companies. It is a subsidiary of Bajaj Finserv Limited, India’s leading and most diversified financial services group.
Bajaj General offers a broad portfolio of innovative and customer-focused insurance solutions, spanning motor, health, and home insurance, along with specialised products such as pet insurance, wedding insurance, event protection, cyber insurance, and rural insurance. From safeguarding your health and home to protecting your travels and life’s most important moments, Bajaj General aims to be a constant partner in your journey. Bajaj General equally offers a comprehensive and well-diversified range of products, including fire, marine, engineering, liability and surety insurance to corporates and SMEs. The company also participates in various government schemes with a focus on financial inclusion. The company is also known for its robust risk selection capabilities, digital adoption and product innovation.
Established in 2001, the company has grown its footprint to nearly 1,500 towns and cities across India, ensuring easy access and a close connection to its customers. This access is enabled through the largest distribution network, spanning individual agents, point-of-sale personnel, banks, NBFCs, motor dealers, brokers, and the company’s proprietary sales force.
It holds an [ICRA]AAA rating from ICRA Limited, reflecting the highest level of confidence in its financial strength and stability. With a strong legacy, a forward-looking mindset, and an unwavering focus on its ‘Customer-First’ philosophy, Bajaj General remains committed to protecting what matters most, empowering individuals, families, and businesses to live with confidence and peace of mind.
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