Policybazaar for Business, the B2B division of PB Fintech, has begun offering reinsurance services in Sri Lanka, Qatar, Oman, and the UAE.
The reinsurance platform uses digital tools, data analytics, and actuarial inputs, along with the company’s experience in distribution, to facilitate facultative and treaty placements.
It supports insurers managing property, marine, liability, cyber, and climate-linked risks, with the goal of providing more structured and timely reinsurance options for segments that have often been underserved.
Tarun Mathur, Co-founder of Policybazaar, commented: “Reinsurance, for too long, has operated in a way where scale and legacy networks outweighed clarity and innovation. But the world insurers now operate in is fundamentally different.
“They face climate volatility, systemic cyber threats, and heightened economic uncertainty – all at once. In this environment, what they need from their partners is not just capacity, but the ability to act on data, to see risks in sharper resolution, and to move with speed.
“At Policybazaar for Business, we’ve built a reinsurance platform with that very premise: a digital-first ecosystem that reduces friction, provides transparency in placements, and gives insurers the ability to make faster, better informed decisions. Sri Lanka, Qatar, Oman, and the UAE are all markets where insurers are ambitious, where innovation is welcome, and where efficiency gaps remain.
“Our role is to stand shoulder to shoulder with these insurers – helping them transfer risk in a way that is modern, data-led, and globally connected. This is not just an entry into four new geographies; it is the start of building a pan-Asian reinsurance network with technology at its core.”
Policybazaar for Business notes Sri Lanka’s insurance market reached LKR 280.1 billion in Gross Written Premiums (GWP) in 2023, up 39.6% since 2019, with growth continuing into 2024. Specialist lines such as cyber liability remain small, highlighting opportunities for modern reinsurance solutions.
In Oman, listed insurers reported OMR 609 million in revenues in 2024, up from OMR 561 million in 2023, while Oman Re recorded OMR 49.9 million in reinsurance revenue (+19%) and GWP of OMR 56.1 million (+21.4%). The rollout of mandatory health insurance is expected to further drive capacity needs and product innovation.
Qatar is experiencing increasing reinsurance activity as insurers diversify into health, cyber, and specialty lines. Regulatory changes, including stricter capital and digital-insurer requirements, are creating demand for more efficient facultative and treaty placements, with QIC posting H1 2025 GWP growth of 17% to QAR 5.7 billion.
In the UAE, GWP rose to AED 64.8 billion in 2024, up 21.4% from 2023, while DIFC generated roughly USD 3.5 billion in (re)insurance premiums (+35%). Insurers are turning to digital, data-driven platforms to manage complex risks.
The company says this expansion across Sri Lanka, Qatar, Oman, and the UAE reflects its aim to establish a regional reinsurance presence, supporting insurers with both capacity and clarity in navigating complex risk markets.
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