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.

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Mr.Hemaka D.S.Amarasuriya

Executive Chairman

Respected professional Mr. Amarasriya is a proud product of Royal College, Colombo and started his career as a dynamic administrator. He was the Chairman and former Managing Director of the Singer Group of Companies in Sri Lanka and the former Chairman of National Development Bank PLC. Mr. Amarasuriya holds Directorships in Bata Shoe Company of Ceylon Ltd., Bata Exports (Pvt) Ltd., ACL Cables PLC, C. W. Mackie PLC, Lanka Aluminium PLC & ACME Printing & Packaging PLC and other non-listed companies. He is a former Vice President of Retail Holdings Limited, USA and of Singer Asia Ltd and also a former Chairman of the Singer Business Council worldwide.

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Mr.T.M.R.Bangsa Jayah

Joint Managing Director

Mr. T.M.R. Bangsa Jayah is a retired commissioned Police Officer, who has experience in the Police service for 29 years. During his career with the Police Department he has worked as the Chief Security Officer for the Deputy Speaker and North-East Governor.

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Mr. Aruna Siriwardhana

Joint Managing Director

Mr. Aruna Siriwardhana was the co-founder and first Chairman of Celltel Lanka Ltd. (now Etisalat), the first cellular telecommunications services provider, not only in Sri Lanka, but in South and South East Asia as well. He was responsible for introducing US Millicom International in the late 1980s to launch this network.

Prof. Lal Gotabhaya Chandrasena

Non-Executive Director

Professor Chandrasena is a clinical biochemist by profession and counts over 24 years of university academic service and over 22 years’ experience in hospital and healthcare administration and laboratory sciences. He retired as the foundation Professor of Biochemistry and Clinical Chemistry and Senior Professor of Faculty of Medicine, University of Kelaniya in June 2011 and presently holds the title of Emeritus Professor.

Mr. Priyanga Algama

Non-Executive Director

Mr. Algama currently serves as the Director General-Department of Public Finance, General Treasury, Ministry of Finance. He holds a Master of Business Administration from the Nanyang Technology (Sing.) University – MIT (USA) and a Bachelor of Commerce (Special) Degree from the University of Kelaniya. He is an Associate Member of CPA Australia (Certified Practising Accountants).

Mr. Sanjaya Padmaperuma

Non-Executive Director

Mr. Sanjaya holds a BSc. in Business Administration, majoring in Computer Information Systems from the Western Carolina University, Cullowhee, North Carolina and a Dip. in Computer Systems Analysis and Design from NIBM along with a Certificate of Achievement in Computer Information System from Diablo Valley College, Pleasant Hill, California. He is the CEO of the South Asian Technologies (Pvt) Ltd as well.

Mr. Pradeep Liyanamana

Non-Executive Director

Mr. Liyanamana is a development economist with over two decades of professional work experience in Sri Lanka and abroad. He has worked on several industry sectors in enhancing competiveness, increasing investments, productivity, and employment. Mr. Liyanamana has developed public-private partnerships in policy reform, outreach and implementation.

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

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.

ndbcha

Mr.Hemaka D.S.Amarasuriya

Executive Chairman

Respected professional Mr. Amarasriya is a proud product of Royal College, Colombo and started his career as a dynamic administrator. He was the Chairman and former Managing Director of the Singer Group of Companies in Sri Lanka and the former Chairman of National Development Bank PLC. Mr. Amarasuriya holds Directorships in Bata Shoe Company of Ceylon Ltd., Bata Exports (Pvt) Ltd., ACL Cables PLC, C. W. Mackie PLC, Lanka Aluminium PLC & ACME Printing & Packaging PLC and other non-listed companies. He is a former Vice President of Retail Holdings Limited, USA and of Singer Asia Ltd and also a former Chairman of the Singer Business Council worldwide.

Nilu Wijedasa

Mr. Nilu Wijedasa

Executive Director

Mr. Wijedasa is a leading profile in the corporate sector and is presently the Chairman of Elkaduwa Plantations. He holds a directorship at Janatha Estate Development Board as well.

Mr. Priyanga Algama

Non Executive Director

Mr. Algama currently serves as the Director General-Department of Public Finance, General Treasury, Ministry of Finance. He holds a Master of Business Administration from the Nanyang Technology (Sing.) University – MIT (USA) and a Bachelor of Commerce (Special) Degree from the University of Kelaniya. He is an Associate Member of CPA Australia (Certified Practising Accountants).

Mr. Pradeep Liyanamana

Non-Executive Director

Mr. Liyanamana is a development economist with over two decades of professional work experience in Sri Lanka and abroad. He has worked on several industry sectors in enhancing competiveness, increasing investments, productivity, and employment. Mr. Liyanamana has developed public-private partnerships in policy reform, outreach and implementation.

Mr. Saadi Wadood

Non-Executive Director

Mr. Wadood is an Attorney-at-Law.

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