Tender Details
Description / Scope of Work
The Bank of Punjab invites bids for the renewal of its Group Health Insurance Policy for both Conventional and Takaful coverage for the period 2026-2027. This procurement is being conducted in Punjab province through the Centralized Procurement Department at the Bank's Head Office in Lahore. The bidding covers two separate lots: Lot 1 for Takaful insurance with an estimated cost of Rs. 76,000,000 and Lot 2 for Conventional insurance with an estimated cost of Rs. 439,000,000. The services are required to cover the Bank's employees across all branches and offices throughout Pakistan. Bids are being invited from qualified insurance providers capable of delivering comprehensive health coverage on a group basis.
Bidders must submit a bid security of two percent of the estimated cost for each lot separately through a bank guarantee or digital payment via generated PSID number in favor of The Bank of Punjab. The bidding process follows PPRA rules under a single stage, two envelope procedure. Eligible bidders should be licensed insurance companies registered with the relevant regulatory authority in Pakistan. All prices must be quoted in Pakistani Rupees and must be inclusive of all applicable taxes. The bid validity period is ninety days from the closing date.
Bid documents are available for free download from the PPRA website and the Punjab e-Procurement System at https://ep.punjab.gov.pk. Bids must be submitted electronically through the Punjab e-Procurement System only, on or before 8 October 2026 at 11:00 am. Technical bids will be opened on the same date at 11:30 am. Bidders should contact the Centralized Procurement Department at 1st Floor, BOP Tower, 10-B Block E/II, Main Boulevard Gulberg III, Lahore, phone 35761601, or email procurement@bop.com.pk for further clarification.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender — not part of the official notice. Always confirm details against the original tender document.
Two separate lots for bank-wide group health insurance renewal: Rs.
76 crore Takaful and Rs. 439 crore Conventional cover. This is a large-value, recurring annual contract with tight timeline to closing (8 October 2026). Bidders must be licensed insurance operators; qualification and pricing are both evaluated. Unconventional two-envelope procedure and dual-lot structure suggest significant institutional procurement. Scale and continuity indicate stable, high-visibility business if awarded.
Who can bid: Bidders must be licensed insurance companies registered with the State Bank of Pakistan or relevant regulatory body. Typically required: valid insurance license, financial stability certification, NTN registration, and audited accounts. Bidders can quote for one or both lots independently. No specific PEC category applies; insurance sector regulation governs eligibility.