India's Policybazaar expands reinsurance operations to UAE

Indian insurtech brings digital-first reinsurance portal to Qatar, Oman, Sri Lanka too

Last updated: September 01, 2025 | 17:11

2 MIN READ

Company operates insurance marketplace Policybazaar and credit provider Paisabazaar.

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Dubai: Policybazaar for Business, the B2B arm of Indian insurtech Policybazaar.com, has launched its reinsurance operations in the UAE, Qatar, Oman, and Sri Lanka.

The move makes it one of the first India-based intermediaries to introduce a technology-driven reinsurance model to international markets.

The platform uses digital tools, data analytics, and actuarial insights to support insurers across property, marine, liability, cyber, and climate-linked risks. It aims to deliver faster, more transparent facultative and treaty placements, addressing efficiency and capacity gaps in the region.

Tarun Mathur, Co-founder of Policybazaar, said: “We’ve built a digital-first reinsurance ecosystem that reduces friction, provides transparency, and allows insurers to make faster, data-led decisions. Markets like the UAE are dynamic and open to innovation, and our platform will help insurers manage complex risks more efficiently.”

Also Read: UAE's insurance sector projected to grow 20% in 2025: S&P

Market overview:

UAE: Gross Written Premiums rose from Dh53.4 billion in 2023 to Dh64.8 billion in 2024 (+21.4%). Dubai International Financial Centre alone generated $3.5 billion in reinsurance premiums (+35%). Insurers are increasingly seeking digital, data-driven platforms for complex health, cyber, and liability risks.
Qatar: Insurers are diversifying beyond energy into specialty lines such as cyber and health, with GWP rising 17% in H1 2025. Regulatory reforms are boosting demand for efficient placements.
Oman: Listed insurers reported OMR 609 million in revenues in 2024, supported by mandatory health insurance rollouts and growing reinsurance needs.
Sri Lanka: GWP reached LKR 280.1 billion in 2023 (+39.6% since 2019), with niche lines like cyber liability still developing.

Policybazaar for Business plans to build a pan-Asian and Middle Eastern reinsurance network that leverages its insurtech capabilities, helping insurers access both capacity and clarity in today’s complex risk environment.

Justin VargheseYour Money Editor

Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence. Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.