PRCL Non-Marine CAT XOL Treaty (Main Program) Insurance Coverage

The Pakistan Reinsurance Company Limited (PAKRE) under the Ministry of Commerce is procuring Non-Consultancy Services for the PRCL Non-Marine CAT XOL Treaty (Main Program) Insurance Coverage for the financial year 2026-27. This procurement is specifically for Karachi, Sindh, and involves the provision of insurance coverage services related to catastrophe excess of loss treaties. The scope includes managing the main program insurance coverage with a net to broker amount as specified in the tender documents. Eligible bidders must be international (re)insurance brokers with an annual premium placement volume of at least USD 500 million. Both foreign brokers and their local affiliates must submit valid professional indemnity policies meeting regulatory requirements. The lead reinsurer must have a minimum rating of A as per S&P, AM Best, Moody's, or Fitch, and hold at least 15% share. Bidders must submit firm quotes valid for 60 days and comply with all technical and financial criteria outlined in the bidding documents. The tender requires submission through the EPADS v2.0 system by the deadline of July 29, 2026, at 2:00 PM, with bid opening at 2:30 PM the same day. Manual submissions are not accepted. The submission address for bid security hard copies is PRC Tower, 32-A, Lalazar Drive, M.T. Khan Road, Karachi. Bidders should ensure all documents, including technical and financial bids, are complete and compliant to avoid disqualification. A practical tip for bidders is to carefully prepare the technical bid with all required affirmations and supporting documents, including the lead reinsurer's signed and stamped slip, to meet the stringent eligibility and evaluation criteria. Early registration on EPADS and thorough review of the bidding documents will facilitate smooth participation in this competitive tender.