Reinsurance Coverage for PPL Property Damage, OEE & Blowout Risk – 2026

The Pakistan Reinsurance Company Limited (Ministry of Commerce) invites bids for the provision of Non-Consultancy Services specifically for Reinsurance Coverage for PPL Property Damage, Operators Extra Expense (OEE) and Blowout Risk for the financial year 2026-27. This procurement is conducted through the e-Pak Acquisition and Disposal System (EPADS) v2.0 using a Single Stage-Two Envelope procedure under Open Competitive Bidding with Least Cost Based Selection (LCBS) technique. The scope includes comprehensive reinsurance coverage involving operators extra expense and physical damage insurance for various wells and equipment as detailed in the attached well schedule and premium worksheet. Items being procured: - Reinsurance Coverage for PPL Property Damage - Operators Extra Expense (OEE) Insurance - Blowout Risk Insurance The technical scope covers insurance for drilling, workover, appraisal, injection, and producing wells across multiple fields in Pakistan including Punjab, Sindh, Balochistan, and Khyber Pakhtunkhwa. The coverage includes physical damage to equipment, control of wells, seepage, pollution, clean-up, and containment expenses. The bidder must be an international (re)insurance broker with an annual premium placement volume of at least USD 500 million and must submit evidence of this. Both foreign brokers and their local affiliates must have valid licenses and registrations including SECP license, NTN, and be on the active taxpayers' list of FBR. The bid must be a firm quote valid for 45 days from bid opening and include a 10% reinsurance commission payable to NICL/PRCL. Lead reinsurer must have a minimum A rating and hold 15-25% share. Premium payment warranty of 90 days from policy inception is required. Bids must be submitted electronically via EPADS v2.0 by Monday, September 14, 2026 at 11:00 AM. Manual submissions will not be accepted. Bid security in the form of Pay Order or Demand Draft must be submitted before the deadline. The bid opening will be held on the same day at 11:30 AM on EPADS. The procuring agency reserves the right to reject any or all bids and to annul the procurement process without liability. A practical tip for bidders is to ensure timely registration on EPADS v2.0 and to keep the international broker in the communication loop to avoid disqualification. The detailed terms, conditions, and specifications are available on EPADS and the Pakistan Reinsurance Company Limited website.