Pre-Qualification of International Reinsurance Brokers for PRCL

Pakistan Reinsurance Company Limited (PAKRE) (Ministry of Commerce) invites applications for the Pre-Qualification of International Reinsurance Brokers for PRCL based in Karachi, Sindh. This open framework agreement aims to prequalify competent international brokers to provide facultative and treaty reinsurance broking services for PRCL and NICL in international markets over a 36-month period starting November 2, 2026. Items being procured: - Pre-Qualification of International Reinsurance Brokers for facultative and treaty reinsurance placements The scope includes arranging competitive quotations, placement of facultative and treaty programs, advising on placement strategy, risk structuring, coordination with reinsurers and claims handling support. Brokers must demonstrate global experience, valid licenses, professional indemnity insurance, audited financials, and compliance with regulatory and confidentiality requirements. Local network partners in Pakistan, if any, must hold valid SECP licenses and tax registrations. Eligibility criteria require minimum annual premium placement of USD 500 million, valid incorporation, licenses, insurance, and no blacklisting. Evaluation will be based on Quality Based Selection (QBS) with a minimum passing score of 65 out of 100 marks. Applications must be submitted electronically through EPADS v2.0 by 11:00 AM on October 14, 2026. Late or manual submissions will not be accepted. Bidders are advised to carefully review all instructions and submit complete documentation including KYC and UBO information within one month of prequalification. A practical tip for bidders: Ensure timely registration and submission on the EPADS portal to avoid disqualification due to technical delays. Maintain all documentary evidence as per eligibility and evaluation criteria to strengthen your application.