Haveli Power Plant Political Violence Reinsurance Coverage

This tender invites bids from international (re)insurance brokers for the provision of political violence reinsurance coverage for the Haveli Power Plant located in Karachi, Sindh. Issued by Pakistan Reinsurance Company Limited (PAKRE), Ministry of Commerce, the procurement falls under insurance and reinsurance services category. The scope covers a one-year reinsurance contract protecting against political violence risks including terrorism, sabotage, riots, and war-related perils affecting the power plant's physical assets and business interruption. Bidders must be international brokers with an annual premium placement volume of at least USD 500 million and comply with regulatory requirements including valid professional indemnity policies. The reinsurance covers material damage up to USD 891.42 million and business interruption capacity payment of USD 35 million, with a limit of liability of USD 350 million per occurrence. The policy period is from July 1, 2026, to June 30, 2027. The contract requires firm quotes valid for 45 days, with premium payment warranty of 90 days from inception. Compliance with PEC categories is not applicable as this is a service contract. Bidders must be on the active taxpayers list of FBR and not blacklisted by any government agency. The tender follows the Public Procurement Rules 2004 and 2025, with bid security requirements and a single stage-two envelope procedure. The evaluation will be based on least cost-based selection (LCBS) with full technical compliance mandatory. Submission deadline is on May 4, 2026, at 11:00 AM via the EPADS v2.0 online portal. Bids must be accompanied by original bid security submitted physically to PRC Tower, Karachi. The technical bid will be opened at 11:30 AM the same day. The physical address for bid security submission and correspondence is PRC Tower, 32-A, Lalazar Drive, M.T. Khan Road, Karachi. Manual bid submissions are not accepted. Pro-Tip: Ensure your bid includes a signed and stamped compliance matrix on the foreign broker's letterhead and that the lead reinsurer's share and rating meet the minimum requirements. Also, keep the international broker in the loop for all communications to avoid disqualification. Check carefully for all required documents including professional indemnity policies and premium computation sheets to avoid rejection.