Wednesday, Jun 26, 2019
Finance | Asia-Pacific | Sri Lanka

Insuring the nation


7 years ago

Representatives of the Sri Lanka Insurance (SLI) board receive the Award for World Quality Commitment
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Strong corporate governance and unique technical expertise have made Sri Lanka Insurance Corporation a trusted partner in Sri Lankan's lives

Sri Lanka Insurance Corporation (SLI) is the largest government-owned insurer in Sri Lanka. It has not only stood the test of time, but the test of functionality, as it has been in service for over 50 years and has over 120 branches across the country. Nationally, it has an asset base of over Rs 88bn ($772.5 million). It also has the largest life fund in the insurance industry of Rs 50bn and a strong capitalization of Rs 6bn. In short, it has the most experienced technical base in the country.

Representatives of the Sri Lanka Insurance (SLI) board receive the Award for World Quality Commitment. The event was organized by Business Initiative Directions in Spain, and held on 24 Oct 2011 in Paris. L-R: Piyadasa Kudabalage, Executive Director of SLI; Mohan De Alwis, MD and CEO of SLI; Jose E. Prieto, President and CEO of Business Initiative Directions; Gamini S. Senarath, Chairman of SLI
Sri Lanka Insurance Corporation is committed to many things, among them providing the highest returns while protecting its policyholders through wise investment management. Its dedication and attention to detail has resulted in a number of financial milestones recently, with SLI’s largest claim ever paid – Rs 39.5 bn – and the largest bonus ever declared to its life policy holders – Rs 3 bn.

Additionally, SLI was the first and only insurance company in Sri Lanka to be awarded the ISO 9001:2008 certification; the rating of AAA by RAM; and AA (Ika) from Fitch Ratings London. It’s progress has been recognized with awards including ‘Best Insurance Company of 2010’ at the World Finance Awards in London, and the ‘World Quality Commitment Award 2011’ from Business Initiative Directions.

Said MD and CEO Mohan De Alwis about the company’s future aims: “We would like to be remembered as ‘The Insurer to the Nation’, and for that reason we need to cover as many people as possible in the most simplified ways.”

Without a doubt, thanks to SLI’s experience and determination, it is definitely on the right path.

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