OGDCL Cyber Risk Reinsurance Coverage

The Pakistan Reinsurance Company Limited (PAKRE) under the Ministry of Commerce is procuring the OGDCL Cyber Risk Reinsurance Coverage for the financial year 2026-27. This procurement is based in Karachi, Sindh, and invites bids from international (re)insurance brokers with an annual premium placement volume of at least USD 500 million. The scope includes comprehensive cyber risk coverage for Oil & Gas Development Company Limited (OGDCL) including network security, privacy liability, cyber extortion, event management, and reputational harm. The coverage limits are USD 10 million per claim and aggregate with a deductible of USD 250,000. The policy period is 12 months with premium payment warranty of 90 days. Bidders must submit firm quotes valid for 45 days and comply with detailed technical and financial criteria including lead reinsurer rating and share. The tender requires submission through EPADS v2.0 by July 7, 2026, 11:00 AM with bid opening at 11:30 AM the same day. The submission address for bid security is PRC Tower, Karachi. Eligibility includes valid professional indemnity policies, FBR/ATL registration, and no blacklisting. The tender follows Single Stage-Two Envelope procedure with Least Cost Based Selection. A practical tip for bidders is to ensure complete registration on EPADS v2.0 and timely submission of original bid security to avoid disqualification. This tender offers a significant opportunity for qualified brokers to engage in a high-value cyber risk reinsurance contract with a leading Pakistani entity. The detailed terms, conditions, and technical specifications are available on EPADS and the procuring agency's website.