Policybazaar for Business expands reinsurance services to Sri Lanka, Qatar, Oman, and the UAE to address insurance capacity gaps. The digital-first platform offers facultative and treaty solutions for various risks, aiming to build a reinsurance network in Asia and the Middle East. The move follows a Rs50m fine imposed by IRDAI earlier this month.

Co-founder Tarun Mathur emphasizes the digital-first ecosystem of the reinsurance platform, aiming to provide transparency and efficiency in risk transfer. Policybazaar’s entry into new markets aligns with the vision of establishing a pan-Asian reinsurance network with a technology-driven approach. The company aims to support insurers in making better-informed decisions and enhancing operational efficiency.

Read more at Yahoo Finance: Policybazaar expands reinsurance operations in Asia and Middle East