Neelum Jhelum Reinsurance Coverage - CAR/TPL

The Pakistan Reinsurance Company Limited (Ministry of Commerce) is procuring reinsurance coverage for the Neelum Jhelum Hydropower Project (NJHPC) located in Muzaffarabad, Azad Jammu & Kashmir. This procurement covers Contractor's All Risks (CAR) and Third Party Liability (TPL) insurance for the restoration and rehabilitation of the Headrace Tunnels and associated works. The contract includes extensive tunnel repair, lining, debris removal, installation of support systems, and instrumentation over a 48.279 km tunnel length and access adits. The contractor responsible is China Gezhouba Group No. 3 Engineering Co. Ltd., with detailed technical specifications and scope outlined in the bidding documents. Bidders must be international (re)insurance brokers with an annual premium placement volume of at least USD 500 million and must submit firm quotes valid for 45 days. The lead reinsurer must have a minimum A rating by S&P, AM Best, Moody's, or Fitch, with a lead share between 15% and 25%. The bid must include a premium payment warranty of 90 days and comply with all regulatory and technical requirements. The estimated contract price and sum insured are in the range of PKR 29.9 billion to PKR 33.9 billion for contract works and associated machinery. The tender is open for submission through the EPADS v2.0 system until June 8, 2026, at 11:00 AM, with bid opening at 11:30 AM the same day. Manual submissions are not accepted. The submission address for bid security originals is PRC Towers, M.T Khan Road, Karachi. Bidders should ensure compliance with all eligibility criteria including valid professional indemnity policies and must submit all required documentation as per the bidding instructions. A practical tip for bidders is to register early on EPADS v2.0 and carefully prepare both technical and financial bids to avoid disqualification due to non-compliance or incomplete submissions. The procurement follows the Least Cost Based Selection (LCBS) method and emphasizes transparency and adherence to Public Procurement Rules 2004 and 2025. This tender represents a significant opportunity for qualified international brokers to participate in a major infrastructure insurance placement in Pakistan, with a focus on comprehensive risk coverage and professional service delivery.