Leading Solarelle Insurance with Remakable Growth and Global Recognition
In a fast-moving insurance world, Lakshitha Fernando’s story is one of quiet determination, thoughtful growth, and a deep commitment to building something that lasts. As General Manager of Solarelle Insurance Pvt Ltd, his journey from a novice in 2005 to a record-breaking leader at Allianz, and now the visionary guiding Solarelle, is a testament to the power of deliberate, step-by-step growth and transformative leadership.
Fernando blends global strategic insight with an innovative, groundbreaking approach, introducing products like Asia’s first pandemic insurance policy and advanced cyber policies for the Maldives. Yet, his greatest legacy is a belief that the most powerful risk management tool is an empowered team. By investing in technology and people, he has driven Solarelle’s record growth while shaping a bold, globally recognized identity for Maldivian enterprise.
A Leader Molded by Experience and Vision
Lakshitha’s ascent in the insurance world is a compelling story of seizing opportunities and mastering every rung of the corporate ladder. He began his career in 2005 with Janashakthi Insurance PLC in Sri Lanka. In 2008, he joined Allianz as a trainee, an opportunity that sparked a decade of remarkable growth.” The pivotal turn came in 2008 when he joined the global giant, Allianz, as a trainee, a move that ignited a period of intense professional growth.
Over twelve years, he earned eight promotions, a company record culminating in his role as Senior Manager for Technical and Reinsurance Affairs. He gained hands-on experience across departments and completed extensive international training in Asia and Europe, earning a spot in the Allianz Asia pacicifc talent Pool . Notably, his responsibilities extended to the Maldives market, providing him with early, invaluable exposure to international underwriting and reinsurance practices.
With this impressive track record, Lakshitha Fernando joined Solarelle Insurance in 2021 as AGM of Reinsurance. After two years of driving notable performance, he was promoted to General Manager for the operation, overseeing overall operations from underwriting ,Reinsurance, claims to sales and strategic partnerships functions . Two decades into his career, Fernando’s journey from a novice to leading a thriving international insurer reflects a career built deliberately on vision, expertise, and deep industry insight.
Architect of Opportunity in Modern Insurance
While many in insurance see risk to be managed, Lakshitha sees an opportunity to create a perspective honed over twenty years of transforming industry paradigms. As General Manager of Solarelle Insurance, he embodies this vision by leading full-spectrum operations across Reinsurance, Technical Underwriting, Sales & Marketing, and Claims, consistently converting complex challenges into innovative business solutions.
His foundational tenure at Allianz, distinguished by two Director’s Awards and the integration of global models, forged his passion for high-impact leadership. Armed with an MBA from the University of Gloucestershire and a Cert CII from the Chartered Insurance Institute, His mission is clear, to build resilient businesses and empower the next generation of insurance leaders.
Designing Turnarounds from the Frontlines
For Lakshitha Fernando, leadership isn’t a title, it’s the art of transforming organizations from within. He often describes his tenure at Allianz as his “post-graduate education in transformational leadership,” where theory met practice. Entrusted with multiple departments through the company’s talent pool, he took on the tangible mission of revitalizing performance, achieving measurable improvements, and leaving a lasting impact on the organization.
Breaking new ground at Allianz, he became the company’s first mid-cop project leader in Sri Lanka, a role that showcased his innovative mindset and cemented his reputation as a change-maker. The lessons learned later proved invaluable at Solarelle. Above all, witnessing Allianz Lanka rise from 16th position to the 1st position in the market instilled in him the unshakable belief that no challenge is too great for a strategically led, empowered team.
From Local Leader to Global Benchmark
Guided by his core leadership philosophy, Lakshitha’s tenure as General Manager of Solarelle Insurance has delivered a measurable impact in both prestige and performance. Under his guidence , Solarelle became the first Maldivian insurer to win the Asia Insurance Award in 2024 a feat repeated in 2025.This international recognition was matched by strong financial results, with considerable growth ,establishing a lasting trajectory of sustained success.
This twin achievement of international acclaim and financial performance has fundamentally elevated Solarelle Insurance’s standing. Once a local brand, it now serves as a global benchmark, recognized by the Asia Insurance Review as the ‘Best Domestic General Insurer for two consecutive years. For Fernando, these accomplishments are not separate victories but the interconnected results of a singular, strategic leadership approach that has successfully transformed the company’s fortunes.
Navigating Insurance’s New Frontier
For Lakshitha Fernando, technology isn’t just a tool, it’s the engine driving Solarelle Insurance’s strategy. He believes that investing in digital infrastructure is a long-term strategic asset, not just a cost.
At Solarelle Insurance, digital transformation drives both outward and inward growth. Externally, it aligns the company with evolving customer needs, keeping it ahead of the curve. Internally, IT-driven processes free the team from routine tasks, allowing focus on analysis and strategy. Technology and people work in harmony, with automation handling routine tasks and freeing employees to focus on innovation and strategy.
Charting an International Path
Looking beyond domestic borders is a natural next step for a company that has already made its mark at home. Since its founding in 2016, Solarelle Insurance has quickly risen to become the second-largest insurer in the Maldives, a success Fernando credits to the company’s innovative strategies and forward-thinking approach. Having established a strong local presence, the company is now gearing up to bring its unique model and proven track record to the global stage.
Managing Global Risks and Local Realities
Navigating the modern insurance landscape, Lakshitha Fernando highlights key challenges and how Solarelle Insurance is turning them into opportunities:
- Evolving Technology: Staying ahead of rapid technological changes is essential to meet modern business and customer demands.
- Shifting Regulations: Adapting to a dynamic regulatory environment requires agility and foresight.
- Demand for Personalized Solutions: Clients increasingly expect tailored insurance offerings to match their unique needs.
Strategic Innovation:
- Under Fernando’s guidence , Solarelle Insurance became the first insurer in Asia to launch a pandemic policy, backed by Munich Re, addressing a critical risk that traditional insurance models had overlooked.
Beyond these global trends, the company must also contend with a unique local challenge: the Maldives’ high exposure to catastrophic (CAT) events, which has historically made global reinsurers hesitant to provide capacity.
In today’s rapidly evolving economic environment, effective risk management has become the cornerstone of sustainable growth in the insurance sector. Solarelle Insurance has continued to demonstrate its commitment to resilience and innovation through a strong strategic approach, supported by Hannover Re one of the world’s leading reinsurance partners.
By aligning with Hannover Re as its lead reinsurer, Solarelle Insurance reinforces its capacity to manage complex risks while maintaining a robust financial foundation. This partnership not only enhances Solarelle’s underwriting strength but also ensures that clients benefit from global expertise, advanced risk-modelling capabilities, and internationally benchmarked practices.
As Solarelle Insurance continues to expand its presence, the company is adding new dimensions of colour, energy, and confidence to the Maldivian insurance market. Its forward-looking strategy blends global reinsurance strength with local market insight, empowering businesses and individuals across the Maldives to make informed, secure decisions.
The collaboration between Solarelle Insurance and Hannover Re reflects more than just a business alliance it represents a commitment to elevating trust and credibility both locally and internationally. With strong risk management at its core, Solarelle Insurance is not only safeguarding the future of its clients but also contributing to the long-term stability and growth of the Maldivian insurance industry.
The Human Engine of Innovation
In modern insurance, the most powerful asset isn’t a sophisticated algorithm but an empowered employee, a belief that lies at the heart of Fernando’s leadership philosophy. At Solarelle Insurance, balancing innovation, risk management, and customer focus starts with investing in people. The process begins with thoughtful team building, placing individuals in roles that play to their strengths and rotating them across functions to develop a versatile, confident, and future-ready leadership pipeline.
Shaping the Insurance of Tomorrow
As the world of insurance continues to evolve at lightning speed, Lakshitha Fernando blends vision with action, transforming emerging global risks into practical solutions. At Solarelle Insurance, he has spearheaded innovations like pandemic coverage and cyber insurance, addressing modern risks.
Solarelle Insurance innovation pipeline reflects deliberate strategy and hands-on leadership, with a dedicated team constantly spotting emerging trends. This proactive approach has made the company a trailblazer, launching products as a first-in-Maldives and sometimes first-in-Asia insurer. By transforming future uncertainties into real-world solutions, this leadership fosters steady growth and creates a stronger, more resilient future for clients.
Creating a Legacy of Pride and Innovation
True leadership goes beyond quarterly numbers; it’s about the legacy a leader leaves behind. At the helm of Solarelle Insurance, Lakshitha Fernando defines success by the lasting impact the company will make on the global stage. His vision is to transform the company into a landmark brand, putting the Maldives firmly on the Asia insurance map. He hopes Solarelle Insurance will be remembered not just for its innovative products but as a world-class symbol of Maldivian ownership and excellence.
A Legacy of Industry Recognition
Beyond the transformative growth under Lakshitha Fernando’s leadership, Solarelle Insurance’s excellence has been consistently validated by prestigious international and national accolades.
These honors underscore the company’s journey from a domestic player to a globally recognized brand.
- Asia Insurance Award 2024 & 2025: Solarelle Insurance became the first Maldivian insurer to win this prestigious award, achieving it two years in a row and cementing its industry-leading status.
- Top 100 Brands in Maldives 2023: Recognized for its impact and brand strength, Solarelle Insurance was featured among Maldives’ top businesses by Corporate Maldives.
Lakshitha’s Influential Presence in the International Reinsurance Markets
With more than two decades of dedicated experience in the global reinsurance sector, Lakshitha Fernando has established himself as a highly respected and influential figure in international markets. His career, marked by strategic insight and unwavering commitment, has earned him a powerful presence across Asia, Europe, and the Middle East regions where he has built very strong and trusted network of reinsurance partners.
Lakshitha’s extensive international connections have been instrumental in strengthening the organizations he has served, particularly in his leadership role at Solarelle. His ability to secure strong and reliable reinsurance backing has significantly enhanced Solarelle’s stability, and competitive positioning. Through his global outlook and deep industry expertise, he has consistently delivered impactful results that highlight his strategic leadership.
One of Lakshitha’s notable contributions has been his role in introducing key international reinsurance players to the Maldivian market. By opening the door for global reinsurers to engage with the Maldives, he has elevated the local industry’s standards, broadened market access, and facilitated long-term partnerships that contribute to sustainable growth within the territory.
Lakshitha’s professional journey stands as a testament to the value of experience, global collaboration, and market foresight. His influence continues to shape reinsurance ecosystems across multiple regions, reinforcing his reputation as a dynamic leader with a truly international footprint.
Lakshitha Fernando, General Manager
Solarelle Insurance Pvt Ltd
Key Takeaways:
- Champion step-by-step career growth over seeking instant promotions.
- Empower your team with autonomy to drive innovation and ownership.
- Invest in technology as a long-term strategic asset, not an expense.
- Build diverse experience across roles to develop comprehensive leadership.
- Pioneer insurance solutions for emerging global risks like pandemics and cyber threats.
- Transform challenges into opportunities through strategic reinsurance partnerships.
- Strong network in the international reinsurance markets.
