Swiss Re Corporate Solutions (SRCS) has entered exclusive partnerships in India and Mexico to serve large domestic firms and global clients operating in both countries.
For India, the reinsurer’s corporate arm is setting up a tie-up with Bajaj General Insurance, contingent on definitive agreements and the necessary regulatory clearances.
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Under the arrangement, the two firms intend to offer underwriting capabilities in sectors “critical for the continued growth of the Indian economy, including high-tech and manufacturing sectors”.
The partnership will also cover international insurance programmes for Indian firms with operations overseas.
SRCS CEO Ivan Gonzalez said: “Multinational corporations increasingly expect insurers to combine deep local market expertise with global capabilities and seamless international execution.
“By working with local insurers, we can build on our underwriting expertise, capital strength and global reach to better support our corporate clients while creating a scalable platform for long-term growth.”
SRCS is also forming a tie-up with Mexican insurer GNP Seguros.
Once regulators give their approval, the reinsurer’s direct commercial insurance business in the country will move across to GNP Seguros, under an arrangement it described as a long-term strategic collaboration.
The company said the move would allow it to keep serving Mexican clients through GNP Seguros’ distribution network.
According to SRCS, the two tie-ups are aimed at supporting a rising number of large corporates in India and Mexico, including those expanding into overseas markets, as well as global clients with a presence in the two countries.
Swiss Re reported net income of $1.51bn for the first quarter of 2026, a 19% rise year-on-year, aided by fewer natural catastrophe losses, improved performance across its business divisions and steady returns on investments.
Return on equity climbed to 23.6%, up from 22.4% in the corresponding period last year, while the insurance service result grew 30% to $1.7bn.
Group insurance revenue, however, slipped 4% to $10.03bn, on the back of weaker volumes in property and casualty reinsurance and the ongoing wind-down of the iptiQ unit.
