Unique solution for your retirement

Who will look after us in our old age? Will we become a burden to our children? How will we tackle the health-related issues that crop up as we age? Will our retirement be a pleasant experience for us or will we continue to face the same problems that we currently face or worse still, will we have new and unexpected problems? Would we able to maintain the same lifestyle that we enjoy at present?

These are worries that we all face as we pass our youth and reach middle age. A retirement which is free from unnecessary worries and burdens is something most people dream about. However, this has been a luxury that only a few can afford due to financial and other problems. As they enter retirement and their financial resources start to dwindle, various difficulties will start to hamper their normal lifestyle.

These impediments will be a thing of the past with the Freedom Lifestyle Plan introduced by Sri Lanka Insurance. The scheme will ensure a monthly income for policyholders, enabling them to enjoy the same lifestyle they had always enjoyed. Peace of mind will be the biggest bonus which comes with it.

A unique feature of the plan is that the policyholder is free to decide to pay the premium as a single, one-time payment or as monthly, quarterly or bi-annual or annual instalments. The single premium enables the policyholder to enjoy life without unnecessarily having to worry about making their monthly payments on time. However, those who cannot afford to pay the premium in one instalment would find the other modes of payment more convenient. Flexibility is one of the biggest advantages of this policy.

The Freedom Lifestyle Plan is open for anyone between the ages of 18 and 65 and gives one the option of receiving the monthly income from an age as early as 45 until one is 75. There is a fixed five per cent increase on the monthly income on compound interest basis every year.

Healthcare benefits can also be added to this scheme as an additional rider cover. Rider covers which can be added to his policy include Family Protection Benefit, Extended Permanent Disability Benefit due to accidents or sicknesses, Critical Illness Cover for 25 illnesses, Arogya Hospitalisation Benefit and other SLI plans such as the Hospital Cash Plan, Surgical Plan, Comprehensive Plan and Overseas Comprehensive Plan.

Sri Lanka Insurance Freedom Lifestyle Plan will be especially beneficial for those who are employed in the private sector, business people and/or those who won’t be entitled to a monthly pension upon retirement. For those with pensions, this Plan will bring an additional income at retirement. The scheme will give them the independence they seek and the ability to maintain their lifestyle without becoming a burden to anyone in their retirement.

About SLI

Sri Lanka Insurance, which was set up in 1962, has firmly established itself as one of the most respected players in the insurance industry. With over 120 branches island-wide, an unparalleled Assets Base and Life Fund with millions of policies in force, SLI continues to demonstrate its stability, strength and long-term sustainability.

The company was recognised with a Fitch Rating AA+(lka) National Long-Term Rating and AA+(lka) National Insurer Financial Strength Rating in August 2017. The rating reiterates SLI’s position as the strongest player in the local insurance industry. Being backed by top international reinsurers has continued to strengthen its position.

Reports market share of 21.3%

Sri Lanka Insurance, the pioneering insurance services provider to the nation, has once again consolidated its position as the market leader in the General Insurance sector in the island.

The company has emerged as the No. 1 in General Insurance with a healthy market share of 21.3 per cent as at December 31, 2017. The company commands a market share of 22.69 per cent in the Non-motor sector and a 20.5 per cent share in Motor, leading both sectors of the General Insurance market.

SLI’s General Insurance business reported a market growth of 20.5 per cent during the above period over the corresponding period of 2016. This is a remarkable achievement considering the General Insurance industry growth rate of 15.8 per cent during the year under review.

The total Gross Written Premium of the General Insurance market for this period is Rs. 88.9 billion while the Compound Annual Growth Rate (CAGR) over the period from 2013 to 2017 is 7.89 per cent.

The company’s Motor Insurance segment reported a growth of 10.85 per cent over 2016 with a CAGR of 9.53 per cent. The Gross Written Premium (GWP) for the year 2017 was Rs. 11.56 billion.

Meanwhile, the growth in Non-motor segment of SLI was reported at 39.68 per cent. The sector achieved a GWP of Rs. 7.3 billion for the year which compares to an industry growth of 19.44 per cent in this segment.

SLI also reported a total Gross Written Premium of Rs. 18.9 billion in the General category for 2017.

This is a commendable performance in a market where there is intense competition among 28 insurance companies of which 16 are involved in General Insurance. There are also 56 insurance brokers in the market. The number of insurance agents in the industry could be placed at 43,800. However, this is a market with enormous potential as the General Insurance penetration as a percentage of GDP is at 0.67 per cent.

SLI’s performance in the General Insurance sector has been consistent throughout history. It has always come to the support of the communities that it works with and has honoured its claims. In fact, the largest ever insurance claim in the island’s history, worth around Rs. 36.9 billion had also been paid by SLI in 2001 to SriLankan Airlines.

During the year 2017, SLI honoured General Insurance claims worth Rs. 9.3 billion of which Rs. 6.9 billion was related to Motor and Rs. 2.4 billion was in Non-motor. Rs. 350 million was paid as claims in the aftermath of the 2017 floods: The company settled over Rs. 600 million in claims during the floods of 2016.

The company recently introduced the Bee Express service as a means of expediting motor claim settlements. A three-step process is utilised here to settle claims below Rs. 50,000for private cars and private dual-purpose vehicles, Rs. 30,000 for three-wheelers, Rs. 20,000 for motor cycles and Rs. 35,000 for other private vehicles excluding buses. The three steps are 1) The customer notifies the SLI Call Centre about the accident from the accident site 2) The Technical Officer assesses the damage and makes an offer to the customer from the accident site 3) The customer accepts the offer and submits completed claim form to the nearest SLI branch office. Once these are completed, the payment will be paid to the customer without any undue delays or hassles.

Securing the insurance partnership of the Suraksha Free Medical and Personal Accident Cover introduced by the Ministry of Education for all Sri Lankan schoolchildren in October 2017 is another feather in the cap of SLI, which has already settled over 1,500 claims under this scheme.

About SLI

Sri Lanka Insurance, which was set up in 1962, has firmly established itself as one of the most respected players in the insurance industry. With over 140 branches island-wide, an unparalleled Asset Base of over Rs. 190 billion with millions of policies in force, SLI continues to demonstrate its stability, strength and long-term sustainability.

The company was recognised with a Fitch Rating AA+ (lka) National Long-Term Rating and AA+ (lka) National Insurer Financial Strength Rating in August 2017. The rating reiterates SLI’s position as the strongest player in the local insurance industry.

Being backed by top international reinsurers such as SwissRe, Munich Re, GIC (General Insurance Corporation of India) and  Zurich Reinsurance Company has continued to provide added strength and solidity to Sri Lanka Insurance’s position as the leading insurance services provider to the nation.

The Sri Lanka Insurance General Insurance Summit 2017, one of the most prestigious events in the company’s annual calendar, was held on March 16 and 17, 2018 at the Earl’s Regency, Kandy.

The event was held under the theme ‘The Journey Towards Perfection’ and saw the participation of over 220 members of SLI’s General Insurance sales force. Their performance, which enabled the company to once again become the Leader in the General Insurance category, was recognised and rewarded at the Summitr.

The keynote speaker on the first day of the event was Mr. Eranda Ginige, Founder of Social Enterprise Lanka and Former Head of Partnerships and Innovation at the British Council in Sri Lanka. The interactive session on the second day was conducted by renowned lyricist and scriptwriter Mr. Bandula Nanayakkarawasam.

Sri Lanka Insurance Chairman Hemaka Amarasuriya presents an award to an achiever in the presence of Executive Director Keerthi Kotagama (L) and Director Nilu Wijedasa.

Sri Lanka Insurance conducted a programme last week to reward and recognise its Life sales advisors. The objective of the programme, held in Colombo, was to motivate the company’s top sales advisors and drive them towards the goal of achieving their MDRT targets for the year 2018.

Over 125 of the company’s top Life sector advisors including 52 advisors who have qualified for participation in the 2018 MDRT global conference took part in the programme.

Sri Lanka Insurance has consistently produced large local delegations to take part in the MDRT, which is one of the most prestigious international events for top performers in the Life insurance industry across the world. This year’s event is scheduled to take place in Los Angeles, USA in June.

Million Dollar Round Table (MDRT) is the most innovative and prestigious business forum in the financial services profession, attracting nearly 43,000 attendees from around the world representing over 470 organisations in 71 countries. Founded in 1927, this event gathers the world’s top sales achievers every year to share their sales experiences with each other.

Mr. Ranjith Perera, former Senior DGM – Finance (L) receiving a token of appreciation from Chairman SLI Mr. Hemaka Amarasuriya. DGM – HR and ER Mr. Rohitha Amarapala looks on.

Sri Lanka Insurance is an organisation which has served the masses, carrying the message of insurance through the length and breadth of the island for many decades. The company places much value on its employees who have made this great service possible to the nation.

To recognise and felicitate employees who had served the company over a 25 and 35-year period, Sri Lanka Insurance organised the ‘Harasara 2018’ awards ceremony on April 5 at Hotel Galadari, Colombo. SLI Chairman Hemaka Amarasuriya was the Chief Guest at the event. Director Nilu Wijedasa and the senior management of the company graced the occasion.

SLI recognised and felicitated 104 members of its staff for their loyal service, dedication and commitment to the company: 11 of the recipients had completed 35 years of service while 93 had completed 25 years of service. All awardees received a personalised plaque, certificate and gold coins as a tribute.

Chairman Amarasuriya spoke on the contributions made by the staff to the growth and development of the company over its 56-year history and commended them for their loyalty and dedication to the organisation.
Sri Lanka Insurance has the most experienced technical knowledge base in the industry. The company is one of the most respected players in the insurance industry and has over 140 branches island-wide and an unparalleled Asset Base of over Rs. 190 billion and continues to demonstrate its stability, strength and long-term sustainability.

The company was recognised with a Fitch Rating AA+ (lka) National Long-Term Rating and AA+ (lka) National Insurer Financial Strength Rating in 2017. The rating reiterates SLI’s position as the strongest player in the local insurance industry.

An island-land awareness campaign on the importance of Life and General Insurance and how these could offer protection to the public was carried out by officers of Sri Lanka Insurance on April 1 and 7. The awareness campaign was conducted throughout the island on a door-to-door basis as part of the efforts of the National Insurer to propagate the importance of being protected with insurance in case of unforeseen situations which may arise. Seen are some images of the campaign in progress.

For top achievers of 2016/17 national exams

Sri Lanka Insurance is once again offering talented Sri Lankan students a golden opportunity to receive valuable scholarships through its Life Suba Pathum National Scholarship Scheme.

Suba Pathum 2018 is now open and SLI is accepting applications from students who had excelled at the Grade Five Scholarship, GCE Ordinary Level and Advanced Level examinations in 2016 and 2017. A total of 600 students from across the island, 300 for each year, will be the beneficiaries of this scheme.

Once all applications for the scholarships are received, SLI will select the top four achievers from each district at the Grade 5 Scholarship and GCE O/L examinations and present each student with a scholarship worth Rs. 20,000 and Rs. 40,000 respectively. From the A/L applicants, winners will be selected based on national rankings from the Arts, Science, Mathematics and Commerce streams for scholarships worth Rs. 50,000 each.

If the parents/guardian of the student hold a Life insurance policy with SLI, the student will benefit over a longer period, until they sit the next major national examination. Accordingly, Grade Five students whose parents hold SLI Life policies will receive the scholarship continuously for five years, O/L students will benefit for two years and A/L students for three years.

The Suba Pathum scheme was introduced by SLI in 2014 to applaud the achievements of the children of the country and to encourage others also to perform well and reach their best potential. This is the fourth time it is being conducted. So far, Suba Pathum has benefited over 300 students each year with the total value of the scholarships presented annually being over Rs. 18 million. It is one of the most beneficial of such schemes in the industry.

Applications for the scheme can be downloaded from the Sri Lanka Insurance website or collected from the nearest branch office. The closing date for applications is May 31, 2018.

The Sri Lanka Insurance Motor Plus team, led by the motor racing legend Aravinda Premadasa, was seen racing at the Foxhill Super-Cross 2018 which was held on April 21 at the Diyatalawa Foxhill Racing Circuit.

The Foxhill Super-cross is one of the most popular events in the island’s racing sports calendar. Over 50,000 spectators were present at the event which was held for the 26^th time this year while many more watched the event live on television.

Mr. Premadasa is a renowned motor racing champion with over 20 years of experience gained on racing tracks both local and foreign. The many accolades he has earned include several wins at Foxhill events.

SLI Motor Plus is a brand which is frequently associated with motor racing events in the country. One of the leading motor insurance policies in the country, Motor Plus provides innovative tailor-made insurance solutions and value added services including tie-ups with Sri Lanka’s premier vehicle agents, unmatched trust and confidence and island-wide 24/7 services through a dedicated and proactive customer care team spread across the island.

Sri Lanka Insurance marked its presence in a big way in Nuwara Eliya this festive season. The company was seeing carrying out many exciting activities in the area during the April holiday season.

One of the highlights of these activities was the opportunity provided to 14 lucky people (seven winners selected through a raffle draw and one companion per winner) to take part in a helicopter ride in and around the scenic area of Nuwara Eliya for over 20 minutes.

The children’s art competitions carried out on an hourly basis saw queues of children gathered to take part. Gifts and certificates were presented to all participants.

Youth flocked to the virtual reality game zone at the SLI stall, to experience modern games that had been set up in the stall.

More than 1,500 people gathered every day to enjoy the festivities with SLI by the Gregory’s Lake.

Mr. Chandana L. Aluthgama is appointed as the Chief executive officer of Sri Lanka Insurance Corporation Ltd; with effect from 3rd May 2018.  Mr. Aluthgama is a renowned professional in the corporate world with over 25 years of experience across diverse facets in the insurance business.

During his illustrious career, he has held many senior roles in organizations such as Eagle insurance PLC, HNB Assurance PLC, etc. Further, he has held many Leadership positions outside his insurance career in both local and international associations. Mr. Aluthgama is a visiting lecturer at the Postgraduate Unit of the University of Colombo – Management & Finance Faculty. He holds a Master’s degree in Business Administration from the University of Colombo, Bachelor of Commerce degree from the University of Kelaniya and he is a fellow of the Chartered Management Institute of UK (FCMI). He has presented research papers at local and international conferences on Insurance & Bancassurance and has undergone extensive training both locally and overseas including, at General Insurance AG, Vienna, Austria.

Prior to taking up this appointment Mr. Aluthgama functioned as the Chief Business Officer and the Principal Officer of HNB General Insurance Ltd,

Sri Lanka Insurance, with over five decades of service to the nation is the Nation’s Strongest & largest Insurer with an asset base of Rs190 billion and a life fund of Rs98.5 billion, the largest in the industry.  Sri Lanka Insurance is the first insurance company to have been assigned a global rating for financial stability AA+ (lka) from Fitch Ratings, London which is an assurance of the company’s long term financial sustainability. The Company has also been awarded ISO 9001:2015 certification for correct governing and operational procedures in line with accepted global standards.

The Sri Lanka Insurance Vesak Bhakthi Gee presentation for 2018, organised by the Art Society of SLI, was held at the SLI Head Office premises recently. Director Mr. Nilu Wijedasa was present at the event along with members of the Senior Management and employees. In the pictures, the presentation is under way.

Sri Lanka Insurance is now providing enhanced and more streamlined services to customers through its redesigned, more user-friendly web portal.

The web portal enables Sri Lanka Insurance customers to easily and conveniently access the services they require without having to necessarily visit the SLI head office or branch offices. Making payments online, managing their policies etc. could all be performed easily at the touch of a button.

The web portal brings SLI services to customers’ fingertips, enabling them to perform most of their transactions online. It’s expected to give a welcome boost to customer services.

Some of the services which would be available to SLI customers through the online portal are obtaining quotations, buying or renewing their insurance policies, obtaining policy schedules and cover notes, paying their premiums and viewing one’s premium status, policy details and tax certificates.

Sri Lanka Insurance believes that in a world driven by technology, where time is of the utmost importance, it’s vital that customers are provided with improved services which they can access easily without any hassle. The web portal is available for both Life and General (Motor and Non-Motor) customers.  The directory can be accessed via www.srilankainsurance.net.

Ranked Most Loved Insurance Brand by Brand Finance

Sri Lanka Insurance has declared a Life Insurance Bonus of Rs 6.8 billion for this year, recording the largest Life Insurance Bonus ever to be declared in the insurance industry. The company achieved this historic milestone by surpassing its own record of Rs 6.2 billion declared as Life Insurance Bonus in the year 2017.

Sri Lanka Insurance also recorded the largest Life Fund in the local insurance industry to date with a ground-breaking Rs. 98.5 billion in its Life Fund.

Over the past years, Sri Lanka Insurance has been declaring increasing bonuses to its Life policyholders. It has given over Rs 50 billion in total as Life Insurance bonuses since 2006. Sri Lanka Insurance’s prudent investment management strategies and accumulating Life Fund have enabled the company to give higher returns to its policyholders.

Sri Lanka Insurance, the pioneer as well as the leading National Insurance Company, has recorded an outstanding performance while reporting a significant growth in its Assets Base to Rs. 190 billion, which is again the largest in the insurance industry.

Meanwhile, the Sri Lanka Insurance brand has also been ranked among the Top Five of the Most Loved Brands and the Most Loved Insurance Brand in the island in the ‘2018 Brands Annual’ published recently.

The company has also introduced increased dynamism and expertise to all customer care and operational procedures, among which is the launch of its online portal for the convenience of busy customers. The company is also in the process of expanding its branch network, which currently stands at over 120, to provide even better services to its customer case.

Sri Lanka Insurance, with over five decades of service to the nation is the island’s largest and strongest insurer. It is the first insurance company in the country to have been assigned a global rating for financial stability, AA+ (lka) from Fitch Ratings, London which is an assurance of the company’s long-term financial sustainability. The company has also been awarded ISO 9001:2015 certification for correct governing and operational procedures in line with accepted global standards. 

Sri Lanka Insurance, in celebration of its declaration of the largest Life Insurance Bonus of Rs. 6.8 billion, will be hosting the first ‘Happiness Carnival’ on June 16, 2018 (Saturday) at the Viharamaha Devi Park, Colombo from 10.00 am to 7.00 pm.

The carnival is open to customers and non-customers of Sri Lanka Insurance, to relax and enjoy with their families and loved ones.

It would be a fun-filled event which is sure to be enjoyed by the entire family, children and adults alike. There would be many competitions and games with prizes galore. Art sessions, raffle draws and a musical show would be included in the programme while there would also be seminars on road safety, beauty culture, cookery and insurance with counselling sessions also included.

This would be a great opportunity for all children to enjoy themselves with games planned such as mini bowling, balloon darts, bumper balls and bouncers. There would be special events for the youth as well including magic shows and a virtual reality game zone. A play area comprising attractions such as the Sumo challenge, water slide, merry-go-round, paddling boats and bungee runs would also be a part of the excitement at the carnival. Entrance as well as all these activities will be free for the participants.

Seen are from left: Commercial Bank’s Head of Card Centre Mr. Thusitha Suraweera, Country Manager Mastercard Mr. Santhosh Kumar, Commercial Bank’s DGM Marketing Mr. Hasrath Munasinghe, DGM Corporate Banking Mr. Sanath Manatunge and Chairman Mr. Dharma Dheerasinghe at the event with SLIC’s Chairman Mr. Hemaka Amarasuriya, Executive Director Mr. Keerthi Kotagama, Director Mr. Nilu Wijedasa, CEO Mr. Chandana Aluthgama, CIO Mr. Aloka Jayawardena and CEO of CH17 Mr. Jumar Preena.

The two corporate giants Sri Lanka Insurance and Commercial Bank have tied up to create convenience for the Sri Lanka Insurance customers by initiating a co-branded affinity card with a loyalty platform and easy payment scheme for General Insurance premium payments.

The official handing over of the MOUs took place recently at Sri Lanka Insurance Head Office. Speaking on the occasion, SLI Chairman Mr. Hemaka Amarasuriya said that this partnership formed between the two leading organisation is expected to benefit both organisations through the benefits provided to the customers. This tie-up would enrich and enhance the relationship between the two parties even further, he said.

Addressing the launch event, Chairman Commercial Bank Mr Dharma Dheerasinghe said this affinity card is expected to take Commercial Bank to the next level of the card business. “We didn’t focus heavily on the card business until recently, but now our card business is one of the fastest growing in the country. This tie-up would provide added synergy to our relationship with SLI,” he said.

The easy payment scheme will enhance the premium payment mediums and make the payment process flexible and convenient for the customer.  Sri Lanka Insurance constantly introduces flexible payment plans that allow the General insurance customers to pay premiums without a huge impact to their personal cash flow. Therefore, the 12-month, 0% installment plan can now be used for any General Insurance premium payment done through a Commercial Bank credit card.

Further, Commercial Bank has offered a co-branded credit card to Sri Lanka Insurance customers. This credit card will be issued to all Sri Lanka Insurance customers subject to the creditworthiness of the applicant. Sri Lanka Insurance customers can obtain application forms from either the nearest Commercial Bank branch or Sri Lanka Insurance branch. The credit card will be issued in two types, which are ‘Gold’ and ‘Platinum’.

The card is issued without a ‘Joining Fee’ and ‘First Year Annual Fee’. There are unique benefits including discounts from reputed automotive merchants which are only provided to the co-branded cardholders through a wide range of merchant base tie-ups with the loyalty platforms of both Commercial Bank and Sri Lanka Insurance, powered by loyalty benefits provider CH17. Further, the co-branded affinity card holders can enjoy ‘Commercial Bank Max Loyalty Rewards’ each time they perform purchases through the credit card. Motor Plus affinity cardholders are also entitled to the year-round attractive offers available for Commercial Bank cardholders.

Sri Lanka Insurance customers can now obtain the benefits of the easy payment scheme and co-branded credit card by contacting the nearest Commercial Bank branch or Sri Lanka Insurance branch.

Being the most trusted state-owned insurer, Sri Lanka Insurance has one of the largest customer bases that a local insurer possesses. Commercial Bank, the largest private bank in Sri Lanka has won multiple awards as Sri Lanka’s best bank from a number of international publications over several years. This agreement marked another remarkable milestone in the history of both entities.

The MoU was exchanged at a function held at the SLIC head office recently. Seen are from left: Medilink’s Country Manager Debabrata Ghosh and Finance Manager Jerry Figurado, SLIC’s Chairman Hemaka Amarasuriya, CEO Chandana Aluthgama, Chief Officer – Life Suresh Paranavithana and Chief Information Officer Aloka Jayawardene.

Sri Lanka Insurance signed a Memorandum of Understanding with Medilink Lanka (Pvt) Ltd. recently which would enable the leading insurance company to provide cashless cards to its insurance policyholders who obtain health cover.

Accordingly, policyholders who have signed up for the SLIC’s Comprehensive Plan, Overseas Comprehensive Plan and Comprehensive D+ plan for diabetics will now receive  a card via Medilink.  It would enable them to seek treatment at Medilink-registered private hospitals and get their bills settled at the moment of discharge through the cashless card subject to policy conditions.

The new card system will replace the previous system of reimbursement of medical bills after settlement by customer at the discharge. Hospital admittance can now be done by merely producing the SLIC – Medilink card and calling a Medilink representative on 0117 400 600, 0112 393 960, 0777 268 786, 0777 268 787, 0777 699 361.

This would be a great convenience for the policyholders as it’s extremely difficult for most of them  to settle huge hospital bills when they are being discharged from a hospital even though it maybe reimbursed later.

Sri Lanka Insurance, with over five decades of service to the nation, is the island’s largest and strongest insurer. It recently declared a Life Insurance Bonus of Rs. 6.8 billion, the largest in the industry to date and can claim an Assets Base of Rs. 190 billion, again the largest in the insurance industry. The company has a network of over 120 branches and plans to expand it further during this year to provide even better services to its customer base.

It is the first insurance company in the country to have been assigned a global rating for financial stability, AA+ (lka) from Fitch Ratings, London which is an assurance of the company’s long-term financial sustainability. The company has also been awarded ISO 9001:2015 certification for correct governing and operational procedures in line with accepted global standards.

Medilink is a leading provider of medical support and consultancy services to clients across the world. This strategic tie-up between these two organisations is expected to benefit both parties and ultimately, the health policyholders of SLIC.

Seen are some interesting moments from the Happiness Carnival

The first ‘Happiness Carnival’ organised recently by Sri Lanka Insurance at the Viharamaha Devi Park, Colombo was a resounding success with over 3,000 children attending the event with their parents. The carnival was conducted to celebrate the declaration by SLIC of a Life Insurance Bonus of Rs. 6.8 billion.

The carnival was opened by Chairman Hemaka Amarasuriya who was accompanied by Director Nilu Wijedasa, Chief Executive Officer Chandana Aluthgama and Chief Officer – Life Suresh Paranavithana. Addressing the gathering, Chairman Mr. Amarasuriya described the Life Bonus as the largest to be declared in the history of the country’s insurance industry.

“In achieving this milestone, we surpassed our own record of Rs. 6.2 billion declared as Life Insurance Bonus in 2017. It was the prudent management strategies which we had employed which enabled us to achieve these heights,” he said.

Some of the most popular activities at the carnival were mini bowling, balloon darts, bumper balls, water slide, merry-go-round, paddling boats, bungee runs and bouncers. The virtual reality game zone and magic show proved to be extremely popular among both children and adults. Art and dance competitions were also a part of the event. Certificates were presented to all the children who took part in the art competitions while winners of the dance competitions and raffle draws received prizes.

There were several educational and informative seminars on topics such as road safety and beauty culture which were enjoyed by the adults. The carnival was open to both policyholders and non-policyholders of SLIC and entrance as well as all attractions were free.

The first Happiness Carnival would be followed by several more to be organised in various parts of the country.

Assures assistance in accelerating businesses development and long-term sustainability

Hon. State Minister of National Policies and Economic Affairs Dr. Harsha de Silva paid a visit to Sri Lanka Insurance recently to meet with the corporate management to discuss the strategic way forward for the National Insurance giant.

He was preview to a microscopic view of the corporate strategies in process alignment to deliver excellence in customer convenience while creating value for its stakeholders. He actively participated in the discussions with the Senior Management on the strategic direction for Sri Lanka Insurance.

The Minister said, The Way Forward for Sri Lanka Insurance should be bold and built on an innovation-driven vision, ushering in best practices from the global insurance industry. This calls for sacrifices at all levels of the company. A strategy that puts the customer first and looking beyond short-term financial targets to create sustainable and profitable change were emphasised. He further pledged that during his tenure as the State Minister for Sri Lanka Insurance that he will support the organisation to move ahead, maintaining and enhancing the company’s standards, while keeping it away from bureaucratic processes.

Sri Lanka Insurance, with over five decades of service to the nation, is the island’s largest and strongest insurer. Its Assets Base, at Rs. 190 billion, and its Life Insurance Fund, at Rs. 98.5 billion, are the largest in the industry. With over 120 branches located across the island, the company has the largest and most experienced technical knowledge base in the country’s insurance sector.

It is the first insurance company in the country to have been assigned a global rating for financial stability, AA+ (lka) from Fitch Ratings, London which is an assurance of the company’s long-term financial sustainability. The company has also been awarded ISO 9001:2015 certification for correct governing and operational procedures in line with accepted global standards.

Sri Lanka Insurance today announced the changing of its corporate identity to coincide with the organization’s three-year plan to improve processes and introduce products and features that address the needs of the modern consumer. The insurance giant is living to its title of being the ‘Most Loved Insurance Brand’ in the island as declared by the 2018 Brands Annual, by ensuring a reliable but modern approach, ensuring the maximum convenience for customers.

Sri Lanka Insurance’s new corporate logo is fresh and modern, highlighting the brand’s position as a strong dynamic leader who is relevant and focused on adapting to the changing needs of customers.

Sri Lanka Insurance is moving forward and adapting to times of change; the company is well-versed with the changing habits of its customers and keeping up with game-changing new technologies and products that include a total Life solution that caters to every stage of a person’s life cycle with ten Life Insurance policies to choose from. The company has also launched the only diabetic policy called Comprehensive D+, which gives a growing diabetic population in the country a sense of relief. Other additions to the Life basket include the Rs.10 million Cashless Medical Card which allows customers to make payments with their Cashless Medical Card, without having the hassle or the worry of having to pay upfront across all hospitals in the island.

Sri Lanka Insurance has also expanded and revamped its Retirement Scheme ensuring pensioners get the highest returns on their pension plans.

As the country’s leading motor insurer, Sri Lanka Insurance Motor Plus enables its customer base to enjoy the benefits of their lifestyle and loyalty rewards scheme that offers benefits across varied shopping segments. Other motor insurance paybacks include 24-hour roadside assistance and peace of mind knowing your assessment would be done by a professional with an extensive knowledge in claim assessments. With the relaunch, all processes will be speedier and customers can enjoy claims up to Rs.75,000 or below within 3 hours of an accident. Sri Lanka Insurance settles over Rs.80 million in claims on a daily basis and is the largest player in the motor insurance sector.

Showcasing strength and stability with the recently affirmed AA+ (lka) rating from Fitch Rating, Sri Lanka Insurance is led by a dynamic group of individuals, from the appointment of industry specialists to its corporate management team, to a team of over 2,500 members that have extensive knowledge in every aspect of insurance and are spread over a 148 branch network across the island, which is set to expand further, ensuring convenience to the customer.

It has also invested significantly to improve IT infrastructure so that processes can be made more efficient.

Established in 1962, Sri Lanka Insurance Corporation is the largest government-owned insurance company in Sri Lanka, with a managed asset base of over Rs. 193 billion and a Life fund of over Rs. 100 billion, the largest in the local insurance industry. The company is also the first and only local insurer to secure Fitch Ratings AA+ (lka) rating for its long-term financial stability and strong capital position.

August 1. 2018: Sri Lanka Insurance today announced the changing of its corporate identity to coincide with the organisation’s plan to improve processes and introduce products and features that address the needs of the modern consumer. The insurance giant is living up to its title of being the ‘Most Loved Insurance Brand’ in the island as declared by the 2018 Brands Annual, by ensuring a reliable but modern approach, ensuring the maximum convenience for customers.

The 2500-strong employee base of Sri Lanka Insurance will join forces today to carry out an awareness campaign which would reach all corners of the island. They will be joined by the over 6,000 agents of the company to carry the message about the importance of insurance through the length and breadth of Sri Lanka.