Tender Details
Description / Scope of Work
Punjab Mass Transit Authority is procuring international reinsurance coverage for property damage, material benefit damage (MBD), and terrorism for the year 2026. This is a non-consultancy service tender issued by Pakistan Reinsurance Company Limited (PAKRE) under the Ministry of Commerce, with solicitation conducted on a single stage, two-envelope basis. The procurement seeks reinsurance protection for PMTA's transit assets and operations across Punjab Province, Sindh Province and other regions where the authority operates. The contract will run for the full calendar year 2026 and covers comprehensive indemnity against property loss, damage to material benefits, and terrorism-related incidents affecting transit infrastructure and vehicles.
Eligibility requirements stipulate that bidders must be licensed reinsurance providers with demonstrated capacity to underwrite large-scale multinational transport sector risks. Bidders are required to provide proof of regulatory registration, financial standing certificates, and evidence of prior reinsurance placement experience. A bid security declaration is mandatory; the exact amount is specified in the bid data sheet. All proposals must comply with the integrity pact framework and include a performance guarantee from an acceptable financial institution.
Bid documents are available from Pakistan Reinsurance Company Limited, PRC Tower, 32-A Lalazar Drive, M.T. Khan Road, Civil Line Sub-Division, Karachi South, Sindh Province. Sealed bids in two envelopes (technical and financial) must be submitted by the closing date of 25 September 2026. Bid opening will proceed in accordance with the instructions to bidders. Interested parties should contact the Procurement Specialist at +92-300-699-8576 or email aghafoor@pakre.org.pk for clarifications and document requests.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender — not part of the official notice. Always confirm details against the original tender document.
This is an international reinsurance contract for a public transit authority covering property, material benefit, and terrorism risks across 2026.
The procurement is structured as a formal two-envelope bidding process, indicating anticipated competition and technical complexity. Bidders must hold international reinsurance licenses and demonstrate capacity for large, ongoing multinational underwriting. The closing date of 25 September 2026 provides reasonable lead time for proposal preparation. Reinsurers should note this appears to be a recurring annual placement rather than a one-off quote, suggesting potential for contract continuity if performance standards are met.
Who can bid: Bidders must typically be licensed reinsurance providers registered with the State Bank of Pakistan or equivalent international regulator, hold valid NTN (National Tax Number), possess SECP registration if Pakistani entities, and demonstrate professional indemnity insurance. Prior experience underwriting transport sector risks and evidence of claims handling capability are typically required. International bidders must provide proof of regulatory standing in their home jurisdiction.