Surety Insurance addresses India’s need for alternatives to bank guarantees providing capital efficiency and ease for contractors.
Bengaluru, November 3, 2025 – Reliance General Insurance one of India’s leading private general insurance companies has announced the launch of its Surety Insurance – Bid Bond a landmark solution designed to provide contractors with an efficient cost-effective and non-collateral-based alternative to traditional bank guarantees in project bidding.
This launch supports evolving public procurement needs and regulatory frameworks by offering a capital-light faster and easier route for bid securities while boosting infrastructure participation across sectors.
The Surety Bid Bond is a tripartite agreement between the contractor principal the project owner beneficiary and Reliance General Insurance surety which guarantees that the contractor will honour the bid and execute the contract if awarded.
Commenting on the launch, Mr. Rakesh Jain, CEO of Reliance General Insurance, said: “Our Surety Insurance Bid Bond product is a powerful enabler for India’s contracting community by reducing reliance on traditional bank guarantees we are freeing up vital working capital enhancing ease of doing business and helping our customers participate more confidently in infrastructure development. Our focus is to build insurance-led solutions that are intuitive capital-light, and customer-first and this product reflects just that.”
Target segments include infrastructure projects such as roads, bridges, and highways, where timely bid submissions and financial flexibility are critical. It also supports the growing renewable energy and green power sector, enabling smooth participation in tenders without tying up capital. Additionally, transmission and EPC (Engineering, Procurement, and Construction) contracts benefit from the ease and speed of bid bond issuance. Government procurement bids across various sectors also stand to gain from Surety Insurance, ensuring compliant, efficient, and bank-limit-free participation in public tenders.
With the introduction of Surety Insurance Bid Bond Reliance General Insurance aims to unlock financial agility for Indian contractors while aligning with India’s infrastructure ambitions This solution is poised to drive transparency flexibility and ease in project bidding.
