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Swiss Re CorSo forms exclusive insurance partnerships in India and Mexico
The Mexico deal includes a transfer of Swiss Re CorSo’s direct commercial insurance portfolio to GNP Seguros as part of a long-term collaboration.
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group, has signed exclusive partnerships with Bajaj General Insurance in India and GNP Seguro in Mexico to provide protection for large multinational companies expanding internationally, Reinsurance News reports.
In India, the partnership is subject to definitive agreements and applicable regulatory requirements, and it aims to offer international insurance programs for Indian companies operating abroad.
In Mexico, Swiss Re Corporate Solutions plans to transfer its direct commercial insurance portfolio to GNP Seguros as part of a long-term strategic collaboration, with coverage for Mexican clients continuing through GNP Seguros’ distribution network, also subject to regulatory approvals.
Swiss Re CorSo chief executive Ivan Gonzalez said multinational corporations increasingly want insurers that combine local market expertise with global capabilities and seamless international execution, adding the partnerships are intended to serve two of the world’s fastest-growing commercial insurance markets.