by AIP Online Bureau | Sep 17, 2023 | Eco/Invest/Demography, Indian News, Non-Life, Regulation, Reinsurance
After Nitin Gadkari, union minister, Ministry for Road Transport and Highways, launched two basic level Surety Bonds, in Dec 2022, issued by Bajaj Allianz General Insurance with the support of reinsurance support from Munich Re and Swiss Re, the Surety...
by AIP Online Bureau | May 23, 2023 | Indian News, Non-Life, Reinsurance
Anand Pejawar, whole-time director, SBI General Insurance Anand Pejawar, whole-time director, SBI General Insurance said, “We are confident that this product will serve as an effective tool for the infrastructure sector. Surety bonds offer financial security,...
by AIP Online Bureau | May 16, 2023 | Indian News, Non-Life, Regulation
Recognizing the importance of Surety Insurance Bonds, IRDAI had issued ‘IRDAI (Surety Insurance Contracts) Guidelines’ in January 2022 Hyderabad: In a significant measures to develop a Surety Insurance Bonds market in the country, the IRDAI Tuesday has reduced the...
by AIP Online Bureau | Dec 8, 2022 | Eco/Invest/Demography, Indian News, Non-Life, Reinsurance
“The surety bonds will help in boosting the liquidity in the infrastructure sector by freeing the contractors working capital stuck in bank guarantees. Contractors can utilise these funds for growth of their business,” said Nitin Gadkari, union minister,...
by AIP Online Bureau | Sep 15, 2022 | Articles, Eco/Invest/Demography, Non-Life, Reinsurance
Vishwajeet Kadam The Indian Surety insurance business will assist in developing an alternative to bank guarantees for construction projects. This shall enable the efficient use of working capital and reduce the requirement of collateral to be provided by...
