History

Established in 1962 as a state owned corporation, Sri Lanka Insurance was converted to a private limited liability company for a brief period of 6 years and was reinstated as a nationalized entity on 4th June 2009. The return of ownership to the state has further strengthened the company , which today is the largest government owned insurer in Sri Lanka with an unparalleled managed asset base of over Rs 171.8 billion, the largest life fund in the insurance industry of Rs 90.3 billion and a strong capitalization of Rs 6 billion.

As the pioneering insurer, Sri Lanka Insurance has the most experienced technical knowledge base in the country. The company’s financial stability and strong re-insurance arrangements have paved the way for it to mark many historical milestones in the Sri Lankan insurance arena such as the largest claim ever paid of Rs 39.5 billion and declaring the largest life insurance bonuses year on year to its life policy holders with the latest being a staggering 5.4 Billion.

The ethos and mandate promulgated at the inception by the state has flourished over the years and today Sri Lanka Insurance serves the people of Sri Lanka with merits, expertise and several decades of trust.

Ownership

Sri Lanka Insurance is a state owned institution and over decades of operation, it has received direction of exemplary leaders which has seen the company progress from strength to strength.

The company has invested in multi-faceted projects bringing in lucrative returns for all its stakeholders. The strategic investments made by Sri Lanka Insurance span through many diversified fields.

Banking & Finance
9.4% in Commercial Bank, 10% in DFCC Bank, 14.7% in Hatton National Bank, 15% in Seylan Bank and 10.4% in National Development Bank.

Health Care
Sri Lanka Insurance holds the controlling stake in Lanka Hospitals- a star class hospital equipped with the best medical practitioners and latest medical equipment, providing expert medical care to the people of Sri Lanka.

Power & Energy
Litro Gas- the latest addition to Sri Lanka Insurance’s investment portfolio is the US$ 63 million share acquisition of Shell Gas Lanka Ltd and Shell Terminals Lanka Limited which is now rebranded as Litro Gas Lanka Limited and Litro Gas Terminal Limited

Travel & Leisure
Sri Lanka Insurance has also taken initiatives to diversify its business to the fast growing leisure sector through Sri Lanka Insurance Resorts & Spas. Sri Lanka Insurance has also invested in the world renowned hotel chain Grand Hyatt Hotel Project in Sri Lanka.

Construction & Engineering
Sri Lanka Insurance has also invested in a 10% stake of Colombo Dockyard

Accolades & merits

RAM Ratings

AAA rating from RAM Ratings Lanka Ltd. was awarded to Sri Lanka Insurance for its claim paying ability reflecting the company’s long – term financial sustainability.

ISO Quality Certificate

The first and only insurance company in Sri Lanka to be awarded the ISO 9001:2008 certification for its quality management, endorsing Sri Lanka Insurance’s commitment to correct governing procedures, accurate and efficient operational processors on par with international standards.

Fitch Ratings

Fitch Ratings Lanka has upgraded SLI’s National Long Term Rating and National Insurer Financial Strength rating to AA(lka) stable outlook from AA-(lka) stable. The ratings reflect SLI’s improved risk-based capital position over the last two years benefited by the improved operating and macro environment as well as improved profitability in 2010.

World Finance Award

Sri Lanka Insurance was adjudged the best Insurance company of the year for 2010 & 2012 at the World Finance Awards held in London, Winning against industry contenders from the island.

Vision

To be the Trusted Insurer to the Nation.

Mission

To be a customer focused company that is trusted, which constantly innovates in providing insurance services of best value to our customers, whilst rewarding our employees and adding value to our Shareholders.

Why choose us

Why Sri Lanka Insurance is the best choice for your insurance needs

Sri Lanka Insurance is the best choice for your insurance needs

1. A state owned company

Sri Lanka Insurance is the largest state owned insurer in Sri Lanka. The financial stability and strength of the institution plays a key role when obtaining a long-term insurance solution.

2. A staggering asset base (A staggering asset base of Rs.167.8 Billion)

The managed asset base of Sri Lanka Insurance which stands at a staggering Rs.167.8 billion to date, further affirms its financial sustainability.

3. The largest life insurance fund in the insurance industry (The largest life insurance fund in the insurance industry of Rs.77.8Billion)

With the largest and professionally managed life insurance fund of Rs. 77.8 billion, Sri Lanka Insurance has declared the largest bonus in the history of the insurance industry in Sri Lanka.

4. Guaranteed bonuses from the very first year of policy commencement

Sri Lanka Insurance also guarantees bonuses from the very first year for all participating life policyholders. Furthermore as bonus is calculated on the sum assured and not on the premium paid by the policyholder, the quantum of bonus received is larger.

5. Independent financial ratings (Independent financial ratings for credibility and long term sustainabililty)

Sri Lanka Insurance is the only insurance company to receive an independent rating AAA by RAM Ratings and FitchRatings AA(lka) affirming its claims paying ability and long-term financial sustainability.

6. International quality rating

The only insurance company to be awarded ISO 9001-2008 certification for correct governing and operational procedures.

7. Proven track record

Sri Lanka Insurance has over half a decade of experience serving the nation and has the largest technical knowledge base in the industry.

8. Wide product portfolio which meets all your insurance needs

All your insurance needs, be it life, motor, trade, personal accident or any other can be fulfilled by Sri Lanka Insurance.

9. Extensive branch network of 125 branches

Sri Lanka Insurance branch network spans over all corners of the country from North, South, East to West.

10. Strong reinsurance arrangements

Sri Lanka Insurance is backed by world renowned re-insurances such as Unique Reinusrance and Swiss Re wich have paved the way for it to mark many historical milestones such as largest claim ever paid in Asia, of Rs. 39.5