SLI to embark on new journey with segregation of its insurance business

Chairman of Sri Lanka Insurance, President Counsel Ronald C Perera stated in his New Year message that Sri Lanka Insurance would embark on a new journey in 2024 with all preparations made for the segregation of the company as Sri Lanka Insurance Life and Sri Lanka Insurance General.” The Chairman reiterated that it is a regulatory requirement and this change would bring positive changes and a positive growth to both the Life Insurance and General Insurance categories.

‘The dedication and hard work of all employees of Sri Lanka Insurance has contributed to the financial success and numerous accomplishments of the organisation in the past year. It is because of the employees who are the foundation of the company that Sri Lanka Insurance has withstood many challenges it has seen,” he said.

Sri Lanka Insurance possesses the largest asset base and the Life Fund solidifying its position as the strongest and largest insurance provider of Sri Lanka. The year marked the significant achievement of Sri Lanka Insurance being able to declare a SLR. 10.4 billion Life Insurance Bonus for 2022 to its policyholders. This is the 1st time in the Life Insurance industry that an organization has declared a Bonus over SLR 10 billion. Since 2006, SLIC has consistently declared the highest Life Insurance bonus each year, amounting to an unmatched total of SLR. 92.8 billion. Furthermore, SLIC concluded the year successfully recording a Rs. 21 Billion GWP in Life Insurance and Rs. 23.4 Billion GWP in General Insurance business.

Chief Executive Officer of Sri Lanka Insurance, Chandana L. Aluthgama stated, “As we embark` on a new journey as Sri Lanka Insurance Life and Sri Lanka Insurance General, the business drive for both Life and General categories in 2024 will be ‘Customer centricity through focused specialisation’. This theme underscores the very core of SLIC’s mission to place its customers at the heart of everything we do.”