Brings Liberty Mutual’s Global Surety Legacy and Expertise to Strengthen India’s Infrastructure Growth
Liberty General Insurance Ltd. has officially introduced Surety Insurance in India a move that could significantly reshape how the country finances large construction and infrastructure projects. Drawing on more than 100 years of global expertise from Liberty Mutual Insurance’s world-renowned Surety division, the company is bringing international standards, sophisticated underwriting, and a deep understanding of risk management to the Indian market.
The timing couldn’t be more pivotal. With IRDAI opening the door for Surety products to serve as alternatives to traditional bank guarantees, contractors and developers now have a fresh way to ease liquidity challenges and unlock financial flexibility. By entering this space, Liberty is helping build a more modern and diversified system for supporting national infrastructure growth.
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Liberty’s Surety offerings cover a wide spectrum from Bid Bonds and Performance Bonds to Advance Payment, Retention, and Warranty Bonds. In a first for India, the company is also introducing Shipbuilding Refund Guarantees, aligning local capabilities with global benchmarks. The launch is supported by a strong ecosystem of brokers, placement specialists, and major infrastructure partners.
Reflecting on the milestone, Parag Ved, CEO and Whole-Time Director of Liberty General Insurance, said the introduction of Surety Insurance comes at a time when India is undergoing rapid transformation. “Surety Insurance can unlock capacity, ease cashflows, and help contractors of all sizes grow. With Liberty Mutual’s global expertise behind us, we’re committed to building a trusted and collaborative Surety ecosystem in India.”
Gisha George, President – Product & Underwriting (Commercial Lines & Reinsurance), emphasized that Liberty’s approach blends global experience with India’s unique market needs. She highlighted the company’s focus on responsible growth, strong underwriting frameworks, and close collaboration with stakeholders to ensure smooth adoption across the industry.
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Senior leaders from Liberty Mutual’s Global Surety organization traveled to India for the launch a strong signal of the company’s long-term commitment to developing a robust Surety market in the country. Their presence underscores Liberty’s intention to help India modernize its guarantee systems and enhance transparency and governance in major projects.
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As India accelerates its infrastructure development goals, Surety Insurance is expected to play a crucial role in reducing capital lock-ups and improving financial efficiency for contractors. With its global network, expertise, and purpose-driven approach, Liberty General Insurance aims to be a trusted partner in supporting the nation’s growth.
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