LOLC General and LOLC Life enter into strategic partnership with Cargills Bank

LOLC General Insurance PLC and LOLC Life Assurance Ltd. recently entered into a strategic partnership agreement with Cargills Bank, the banking arm of the Cargills Group.

‘The partnership focuses on strengthening both entities portfolio through offering a wider customer base, a range of best-in-class insurance solutions comprising of protection and investment, while helping further with the best Insurance advice. As a result of this strategic tie-up, Cargills Bank customers will have the opportunity to experience the products and services offered by both LOLC General Insurance PLC and LOLC Life Assurance Ltd., a press release said.

The release adds: ‘The official agreement signing ceremony was held at the Cargills Bank Head Office. The event was conducted with the participation of the official signatories from each entity; Kithsiri Gunawardena, CEO of LOLC General Insurance, Nadika Opatha, CEO of LOLC Life Assurance and Lasantha Mahendrarajah, AGM – Retail & SME Business, Cargills Bank. The ceremony was also attended by other officials from LOLC Insurance and Cargills Bank.

‘Jointly commenting on the significant tie-up, Kithsiri Gunawardena, CEO of LOLC General Insurance together with Nadika Opatha, CEO of LOLC Life Assurance mentioned “With the launch of this partnership, LOLC General Insurance PLC and LOLC Life Assurance Ltd will be able to leverage on the strong brand presence and reach of Cargills Bank. We are confident that this partnership will reach greater heights since both Cargills Bank and LOLC Insurance companies share a strong commitment for customer value creation and exceptional service. We are truly excited to embark on this journey with one of the oldest conglomerates in the country”

‘Lasantha Mahendrarajah, AGM – Retail & SME Business, Cargills Bank also commented that “Cargills Bank is always committed to exploring the possibilities of creating convenience and value to our customers. We are highly excited with the strategic partnership and looking forward to create a new milestone in the industry”

‘The dynamism which LOLC General and Life brings into the industry is the correct blend of flexible customer service and customized product solutions, in reaching different market segments comprehensively. Recently, LOLC General won the awards for ‘Best General Insurance Company of the Year’ at 3rd Emerging Asia Insurance Awards 2021, Asia’s Best Employer Brand Awards 2021, and was also ranked amongst the Top Nation’s Most Popular Service Providers by LMD. While, LOLC Life secured the ‘Asia’s Best Employer Brand Award 2021’, declared 56 members of their sales team as qualifiers for the Million Dollar Round Table (MDRT) membership including 03 Court of The Table (COT) winners for the year 2021, and was also ranked amongst the Top Nation’s Most Popular Service Providers by LMD.

‘Both the companies are fully owned subsidiaries of the LOLC Group, which is one of Sri Lanka’s largest and most diversified conglomerates with operations in 20 countries including Asia, Middle East and Africa. LOLC General and Life Assurance will continue to explore possibilities to elevate the Insurance needs of the community at large through practical and affordable Insurance solutions in promoting sustainable economic retrieval and affluence.

‘Cargills Bank, as one of the most progressive banks in Sri Lanka, has grown to serve over 175,000 customers through 500+ touch points and 21 branches. With a vision to be Sri Lanka’s most inclusive bank driven by digital enablement, Cargills Bank is rated A+(lka) by Fitch Ratings Lanka and is the financial services arm of the Cargills Group, providing a full range of banking and financial services.’