Liberty General Insurance launches Surety insurance in India

By Vriti Gothi

Liberty General Insurance Ltd. has launched its Surety Insurance business in India, a development that signals a significant evolution in the country’s construction and infrastructure financing landscape.

The introduction of this specialised line leverages more than 100 years of expertise from Liberty Mutual Insurance’s Global Surety division, bringing internationally recognised underwriting discipline and advanced risk management capabilities to support India’s fast-expanding infrastructure agenda. With the IRDAI enabling Surety as a viable alternative to traditional bank guarantees, Liberty’s entry strengthens market liquidity, broadens contractor access to capital, and promotes a more resilient guarantee framework for large-scale national projects.

Anchored in Liberty’s global technical strengths, the new portfolio includes Bid Bonds, Performance Bonds, Advance Payment Bonds, Retention Bonds, Warranty Bonds and Shipbuilding Refund Guarantees the latter marking an industry-first for India. Designed to reflect global best practices, these instruments support contractors, developers, and public-sector entities as they navigate increasingly complex project environments. Liberty’s approach is reinforced by a partner ecosystem that spans brokers, placement specialists, and large infrastructure stakeholders, ensuring seamless adoption of Surety solutions across value chains.

Parag Ved, Chief Executive Officer & Whole-Time Director, Liberty General Insurance Ltd., said, “India is entering a transformative phase of infrastructure expansion, and Surety Insurance has the potential to unlock capacity, ease cashflows, and enable contractors of all sizes to grow. With the global expertise of Liberty Mutual Surety and strong capabilities, we are committed to building a strong, trusted and collaborative Surety ecosystem in India. This launch reflects our purpose to help people embrace today and confidently pursue tomorrow.”

As India accelerates its infrastructure investments, Surety Insurance is increasingly viewed as a strategic enabler of market confidence, improved project governance, and reduced capital lock-ups. Liberty General Insurance intends to play a pivotal long-term role in this evolution by offering robust capacity, technical expertise, and solutions aligned with national priorities.