Mumbai, Sept. 30 -- Swiss Re is entering India's direct commercial insurance market for the first time, after more than 25 years as only a reinsurer, as the Swiss giant looks to tap growing demand from Indian companies.The move centres on a partnership entered with Bajaj General Insurance in August. The two companies will offer risk-management solutions and international insurance programmes to Indian corporations-with an initial focus on Indian companies expanding internationally, Ivan Gonzalez, chief executive of Swiss Re Corporate Solutions, said in an interview with Mint.

The opportunity is significant, Gonzalez said. He pegged the global commercial insurance market at around $80 billion, with India currently accounting for less than...