• 95, Chittampalam A Gardiner MW, Colombo 2
  • +94 112 026 600
  • mail@nitf.lk
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Reinsurance



As the sole reinsurer in Sri Lanka, NITF plays a crucial role in maintaining financial stability within the sector by accepting both treaty and facultative reinsurance under a mandatory 30% cession from the General Insurance companies in operating in Sri Lanka. NITF's reinsurance operations are designed to ensure that the Sri Lankan insurance market remains resilient and capable of handling large-scale risks. Our reinsurance portfolio covers a wide range of risks, including property, engineering, marine, motor and other general insurance categories.





To Whom


Treaty Reinsurance

Treaty reinsurance involves the reinsurance of a portfolio of policies rather than individual risks, offering more predictable and stable coverage. NITF offers treaty reinsurance to:

General Insurance Companies: As the sole reinsurer in Sri Lanka, NITF accepts 30% compulsory cession from General Insurance companies, ensuring comprehensive risk management and portfolio stability.

Facultative Reinsurance

Facultative reinsurance is provided on a case-by-case basis, offering flexible and customized coverage solutions for specific risks. NITF offers facultative reinsurance to:

General Insurance Companies: Covering specific large or unique risks that may exceed the capacity of the primary insurer.

  • When an insurer is offered a risk that exceeds its standard underwriting or reinsurance limits for that class, facultative reinsurance can permit the ceding company to accept the risk.
  • Insurers can fill gaps in coverage caused by reinsurance treaty exclusions by seeking separate facultative coverage for a specific policy or group of policies.
  • A reinsurer can issue facultative reinsurance to participate in a market in the short term to minimize risk and take advantage of favorable rates.
  • A treaty reinsurer may purchase facultative reinsurance to protect itself and its treaty reinsurers.

Benefits

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This policy shall be extended to cover loss or damage due to strike, riot and civil commotion exceeding local fund limits as per the limits and rates schedule of SRCC & T issued by the Fund.

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Increases the underwriting capacity of the insurer.

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Protects against a catastrophic loss, which helps to stabilize profits.

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Allows an insurer to exit a territory or line of insurance by transferring the whole policies of the territory or insurance line to a reinsurer.

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Reduces the unearned premium reserve.

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Contact us

Phone : +94 112 026 600
Hot line : +94 112 447 072
Fax : +94 114 700 988