New reinsurance unit launches Sri Lanka operations
View(s):Policybazaar.com, one of India’s largest insurance platforms, has announced the launch of its reinsurance operations in Sri Lanka, Qatar, Oman, and the UAE. With this move, Policybazaar becomes one of the first India-based intermediaries to introduce a technology-driven reinsurance model across Asia and the Middle East, regions that are rapidly growing yet continue to face efficiency and capacity gaps, the company said in a media release.
Built on a digital-first foundation, Policybazaar’s reinsurance platform combines data analytics, actuarial insights, and over a decade of distribution expertise to deliver faster, more transparent, and data-backed facultative and treaty placements. The platform supports insurers across property, marine, liability, cyber, and climate-linked risks, bringing sharper underwriting discipline and speed to portfolios that have traditionally been underserved.
Tarun Mathur, Cofounder and CBO, Corporate Insurance & Reinsurance, Policybazaar, said: “Reinsurance has long been driven by legacy networks rather than innovation. But insurers today face a different reality—climate volatility, systemic cyber threats, and economic uncertainty all at once. They need partners who bring clarity, speed, and data-led decisioning, not just capacity.”
“At Policybazaar, we’ve built our reinsurance platform to meet that need. It reduces friction, improves transparency, and empowers insurers to make faster, more informed decisions. Sri Lanka, Qatar, Oman, and the UAE are dynamic markets that value innovation and efficiency. This is more than an expansion—it’s the beginning of a pan-Asian, tech-powered reinsurance network” he added.
In Sri Lanka, the industry GWP reached Rs. 280.1 billion in 2023, up 40 per cent since 2019, with specialist lines like cyber insurance still nascent—indicating strong demand for modern reinsurance capacity.
With this strategic expansion, Policybazaar reinforces its ambition to blend Indian insurtech expertise with global reinsurance ecosystems, empowering insurers across Asia and the Middle East to navigate complex risks with clarity, transparency, and speed.
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