Assetline Insurance Brokers (Private) Limited (AIBL), a subsidiary of the David Pieris Group, has fortified its market position with the recent award of a Reinsurance Broking License by the Insurance Regulatory Commission of Sri Lanka (IRCSL). Supported by the financial stability, governance framework, and institutional credibility of the David Pieris Group, this achievement represents a pivotal development in AIBL’s ongoing evolution as a comprehensive provider of insurance and risk solutions in Sri Lanka.
With this authorization, AIBL is now equipped to manage both insurance and reinsurance placements. This expanded capability enhances the company’s ability to offer insurers and corporate clients comprehensive risk transfer solutions in an increasingly complex and sophisticated risk landscape.
As the insurance division of the David Pieris Group, AIBL combines robust institutional support with extensive local market expertise. For over two decades, AIBL has been a trusted leader in general and life insurance broking, ranking among the top three insurance broking firms in the country. Its integrated approach unites insurance broking, reinsurance placements, and risk advisory services on a single platform, enabling clients to access more coordinated, strategic, and technically sound risk support.
The inclusion of reinsurance broking allows the company to independently design and implement treaty and facultative programs, thereby enhancing access to international reinsurance capacity for local insurers and large-scale enterprises.
Commenting on this milestone, Mr. Nihal Handunge, Managing Director, CEO & Principal Officer of AIBL, stated, “The license 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 highlighted that reinsurance has become an essential strategic tool for insurers and large corporations—especially in sectors like infrastructure, engineering, marine, manufacturing, and other specialty areas where domestic capacity may be limited.
Through its expanded platform, AIBL is now poised to structure effective treaty and facultative reinsurance programs, 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 transitioning beyond traditional broking to become a comprehensive risk solutions partner, serving both local and international markets.
Photo caption: Mr. Nihal Handunge, Managing Director, CEO & Principal Officer, AIBL
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