Liberty General Insurance has announced the launch of surety insurance in India, introducing a new risk-transfer solution to support the country’s construction and infrastructure financing ecosystem.

The launch brings Liberty Mutual Insurance’s global surety expertise to the Indian market, following the Insurance Regulatory and Development Authority of India’s (IRDAI) approval of surety products as alternatives to bank guarantees. 

Leveraging more than 100 years of experience from Liberty Mutual Insurance’s Global Surety division, Liberty General Insurance stated that it brings underwriting discipline, and global best practices and capabilities to India.

According to the company, this launch will support India’s infrastructure expansion goals, cut down liquidity pressure on contractors and create a more diversified risk-transfer framework.

Liberty General Insurance CEO and whole-time director Parag Ved said: “India is entering a transformative phase of infrastructure expansion, and Surety Insurance has the potential to increase capacity, improve cash flows and help contractors of all sizes grow. With Liberty Mutual Surety's global expertise and strong capabilities, we are dedicated to building a robust, trusted and collaborative Surety ecosystem in India. This launch aligns with our purpose – to help people embrace today and confidently pursue tomorrow.”

The company’s surety portfolio in India features bid, performance, advance payment, retention and warranty bonds, and shipbuilding refund guarantees.

The shipbuilding refund guarantee is an India-first offering.

These products are designed to align with global standards and address the requirements of contractors, developers and government bodies.

The company’s surety model is supported by a partner network consisting of placement specialists, brokers and infrastructure stakeholders.

Liberty General Insurance president – Product & Underwriting (Commercial Lines & Reinsurance) Gisha George said: “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.”