Liberty General Insurance Launches Surety Insurance Business in India

Liberty General Insurance Ltd. today announced the official launch of Surety Insurance in India, marking a major step forward in strengthening the country's construction and infrastructure financing ecosystem. Leveraging more than a century of experience from Liberty Mutual Insurance's Global Surety division, the launch brings world-class underwriting discipline, global best practices, and deep international capabilities to the Indian market. With IRDAI enabling Surety products as an alternative to bank guarantees, Liberty's entry supports India's ambition to expand infrastructure capacity, ease liquidity pressure on contractors, and build a more diversified risk-transfer framework.

Liberty's Surety portfolio in India includes Bid Bonds, Performance Bonds, Advance Payment Bonds, Retention Bonds, Warranty Bonds, and Shipbuilding Refund Guarantees-an India-first offering. These products mirror global standards and address the needs of contractors, developers, and government bodies. Liberty's Surety model is supported by a partner ecosystem covering placement specialists, brokers, and large infrastructure stakeholders.

Speaking at the launch, Mr. Parag Ved, Chief Executive Officer & Whole-Time Director, Liberty General Insurance Ltd., said, "India is entering a transformative phase of infrastructure expansion, and Surety Insurance has the potential to unlock capacity, ease cashflows, and enable contractors of all sizes to grow. With the global expertise of Liberty Mutual Surety and strong capabilities, we are committed to building a strong, trusted and collaborative Surety ecosystem in India. This launch reflects our purpose - to help people embrace today and confidently pursue tomorrow."

Gisha George, President - Product & Underwriting (Commercial Lines & Reinsurance), Liberty General Insurance Ltd., said, "Our Surety proposition brings together Liberty's global experience and India's market realities. We have built strong underwriting frameworks, robust operational readiness, and a partner-centric model to ensure seamless adoption. Our focus is on responsible growth, market education, and building trust with all stakeholders, including contractors, brokers, and government entities."

Senior leaders from Liberty Mutual's Global Surety organization - including Nate Zangerle, Chief Underwriting Officer and Incoming President, Global Surety; Hani Rizkalla, Segment President, Surety - Global Risks; Mr. Ivo Nijenhuis, Senior Vice President and Regional Executive - Latin America & Asia Pacific; Nicholas Kim, Chief Underwriting Officer- International, and regional attended the launch, underscoring the long-term commitment to developing India's Surety market and aligning it with global best practices.

As India accelerates infrastructure spending, Surety Insurance is expected to play a vital role in diversifying guarantee mechanisms, reducing capital lock-ups, and improving project governance. Liberty General Insurance aims to be a long-term partner in India's growth story by offering expertise, capacity, and solutions aligned to national priorities.

Liberty Mutual Insurance, a Fortune 100 organization operating across 28 countries with more than 40,000 employees, is globally recognized for its scale and expertise in Surety. Its Global Surety business issues bonds in over 60 countries and is supported by specialized underwriting teams, a dedicated global service center, and underwriting facilities across 20 countries. This global foundation positions Liberty strongly to help shape India's emerging Surety landscape.

Established in 2013, Liberty General Insurance offers a wide range of retail, commercial, and institutional insurance solutions. With a strong distribution network, technical expertise, and a culture rooted in trust and purpose, Liberty is committed to delivering meaningful outcomes for customers, partners, and businesses across India.

Source : Equity Bulls

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