Press Release – 6 August 2026
Bajaj General Insurance Limited, formerly Bajaj Allianz General Insurance Company Limited and a subsidiary of Bajaj Finserv Limited, and Swiss Re Corporate Solutions signed a memorandum of understanding (MoU) in Pune, Maharashtra, to explore a commercial insurance partnership in India. The MoU is subject to definitive agreements and applicable regulatory approvals.
The partnership is designed to combine Bajaj General Insurance’s strong local market presence with Swiss Re Corporate Solutions’ global risk knowledge and commercial insurance capabilities. It will leverage Swiss Re’s International Programs platform to develop structured insurance solutions for sectors critical to India’s growth, specifically high‑tech and manufacturing. Additionally, the collaboration intends to provide international insurance programs for Indian companies operating abroad and to offer specialist risk solutions such as credit and surety, captive structures, and parametric insurance.
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group—a leading global reinsurance and risk‑transfer provider founded in 1863 and headquartered in Zurich—operates through roughly 70 offices worldwide, including locations in Mumbai, Bengaluru and Hyderabad. Ivan Gonzalez, CEO of Swiss Re Corporate Solutions, stated that multinational corporations increasingly expect insurers to blend deep local expertise with global capabilities, and that India is the fastest‑growing major commercial insurance market.
Dr Tapan Singhel, Managing Director & CEO of Bajaj General Insurance, highlighted that India’s growth story is closely linked to the global economy and that Indian businesses are expanding across borders. He emphasized that the partnership will enable Bajaj to combine its extensive domestic footprint with Swiss Re’s international network to support Indian companies wherever they operate.
Bajaj General Insurance, established in 2001, serves nearly 1,500 towns and cities across India through the largest distribution network in the sector, encompassing individual agents, point‑of‑sale personnel, banks, NBFCs, motor dealers, brokers and its proprietary sales force. The insurer offers a broad portfolio that includes motor, health, home, pet, wedding, event protection, cyber, rural, fire, marine, engineering, liability and surety insurance, as well as specialized products for corporates and SMEs. It holds an ICRA AAA rating, reflecting the highest confidence in its financial strength and stability.
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