Liberty General Insurance Ltd. has launched its Surety insurance business in India, marking a significant step in the country’s growing infrastructure and construction financing landscape. This specialized line draws on over a century of expertise from Liberty Mutual Insurance’s Global Surety division, bringing internationally recognized underwriting discipline and advanced risk management solutions to India.
Strengthening India’s Infrastructure Financing
India’s infrastructure sector is rapidly expanding, and Liberty’s entry into the Surety insurance market provides much-needed liquidity and access to capital for contractors. The Insurance Regulatory and Development Authority of India (IRDAI) has now recognized Surety as a viable alternative to traditional bank guarantees, further boosting its potential in the market. The new portfolio offers a range of bonding solutions, including Bid Bonds, Performance Bonds, Advance Payment Bonds, Retention Bonds, and even Shipbuilding Refund Guarantees—the latter being an industry-first in India.
A More Resilient Guarantee Framework for National Projects
Liberty’s Surety insurance portfolio is designed to reflect global best practices and support contractors, developers, and public-sector entities in navigating complex project environments. With a partner ecosystem that spans brokers, placement specialists, and large infrastructure stakeholders, Liberty is poised to integrate Surety solutions seamlessly across India’s value chains.
Parag Ved, CEO of Liberty General Insurance, emphasized that India’s infrastructure boom presents an opportunity to unlock capacity, ease cash flows, and enable contractors of all sizes to thrive. “Surety Insurance is set to reduce capital lock-ups and enhance market confidence, which is crucial as India accelerates its infrastructure investment,” Ved said.
A Strategic Enabler for India’s Growing Infrastructure Sector
As India ramps up its infrastructure investments, Surety insurance has become a key enabler of market confidence, offering improved project governance and financial flexibility. With its robust global expertise and innovative solutions, Liberty General Insurance is set to play a pivotal role in shaping the future of India’s infrastructure sector.
By offering Surety insurance, Liberty General Insurance supports the development of a trusted and resilient ecosystem for infrastructure financing, helping businesses and contractors overcome financial hurdles while contributing to the country’s growth.
