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.

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The survey revealed some interesting and alarming findings. The data showed that the number of CAG procedures increased significantly in both age bands over the five-year period. The total number of CAG procedures in the age band of 19-35 increased by 160.87% from 2018-2019 to 2022-2023. Similarly, the total number of CAG procedures in the age band of 36-45 increased by 102.99% from 2018-2019 to 2022-2023.

The survey also showed that there was a gender disparity in the CAG procedures. The data indicated that males were more likely to undergo CAG procedures than females in both age bands. In the age band of 19-35, males accounted for 73.91% of the total CAG procedures in 2018-2019 and 78.33% in 2022-2023. In the age band of 36-45, males accounted for 67.16% of the total CAG procedures in 2018-2019 and 81.62% in 2022-2023.

The survey of Reliance General Insurance is consistent with the findings of the recent World Health Organization report on Invisible numbers: The true extent of noncommunicable diseases and what to do about them. The WHO report highlights the global burden of cardiovascular diseases, which holds the front position in leading global death by 68.1% (17.9 million approx.)

The report shows Cardiovascular diseases (CVDs) are the cause of more deaths globally than any other non-communicable diseases. Factually, 86% of CVD deaths could have been prevented or delayed by eliminating risks through treatment. The RGI survey confirms that India is facing a serious challenge of cardiovascular defects like coronary artery disease, The survey shows that the number of CAG (Coronary Angiogram) procedures which are used to diagnose and treat coronary artery disease, increased significantly in both age bands of 19-35 and 36-45 from 2018 to 2023.

These trends indicate that coronary artery disease is affecting the young and productive population of India, which has implications for the social and economic development of the country.

The RGI survey also supports the recommendations of the WHO report, which suggests that factors such as stress, lifestyle, diet, smoking, and genetics could contribute to the increasing incidence of cardiac problems in these age groups. The survey urges people to adopt healthy habits such as regular exercise, a balanced diet, quitting smoking, and managing stress to reduce the risk of heart disease.

The RGI survey and the WHO report both emphasize the need for more awareness and prevention of coronary artery disease among the young and middle-aged population in India. They also call for more investment and action from the government, the health sector, civil society, and the private sector to address this growing public health issue.

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