Assetline Insurance Brokers secures Reinsurance Broking License, unlocking direct access to global reinsurance markets

Assetline Insurance Brokers (Private) Limited (AIBL), a subsidiary of the David Pieris Group, has further strengthened its market position following the award of the Reinsurance Broking License by the Insurance Regulatory Commission of Sri Lanka (IRCSL). Backed by the financial strength, governance framework and institutional credibility of the David Pieris Group, this milestone marks a significant step in AIBL’s continued evolution as a full-service insurance and risk solutions provider in Sri Lanka.

With this authorisation, AIBL is now permitted to handle both insurance and reinsurance placements. This expanded capability enhances the company’s ability to support insurers and corporate clients with end-to-end risk transfer solutions in an increasingly sophisticated and complex risk environment.

As the insurance arm of the David Pieris Group, AIBL combines strong institutional backing with deep local market expertise. For more than 20 years, AIBL has been a trusted name in general and life insurance broking and ranks among the top three insurance broking companies in the country. Its integrated approach brings together insurance broking, reinsurance placements and risk advisory services on a single platform, enabling clients to receive more coordinated, strategic and technically sound risk support.

The addition of reinsurance broking allows the company to independently design and place treaty and facultative programmes, thereby improving access to international reinsurance capacity for local insurers and large-scale businesses.

Commenting on this milestone, Mr. Nihal Handunge, Managing Director, CEO & Principal Officer, AIBL said; “The licence enables AIBL to deliver technically robust and commercially efficient solutions while maintaining strong regulatory compliance. By leveraging relationships with leading global and regional reinsurers, the company aims to help clients manage high-value and complex risks with greater confidence, resilience and stability.”

The company emphasised that reinsurance has become a critical strategic tool for insurers and large corporates—particularly in sectors such as infrastructure, engineering, marine, manufacturing, and other specialty classes where domestic capacity may be limited.

Through its expanded platform, AIBL is now positioned to structure effective treaty and facultative reinsurance programmes, connect clients with reputable global reinsurance markets, provide enhanced technical guidance and claims support, and deliver sustainable and competitively priced risk solutions.

This milestone reflects AIBL’s broader vision of evolving beyond traditional broking into a comprehensive risk solutions partner serving both local and international markets.

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Mr. Nihal Handunge, Managing Director, CEO & Principal Officer, AIBL