SLI upholds position as market leader in General Insurance category

Sri Lanka Insurance upholds its leadership position again as the market leader of the General Insurance sector for the year 2021 reaffirming the supremacy of the state insurance giant. The flagship brand “Sri Lanka Insurance Motor Plus” also continued its tradition of leadership being the leader of the motor insurance market.

In the year 2021 Sri Lanka Insurance General reported 5.4% growth in premium to reach a total value of Rs. 21.2 billion amidst the stagnant market conditions.

Sri Lanka Insurance commands a market share of 21.73% leading the General Insurance market. The non-motor insurance segment recorded a phenomenal growth of 15% achieving a GWP of Rs. 9.5 billion while the Motor Insurance segment achieved a GWP of Rs. 11.6 billion leading the motor insurance segment.

Sri Lanka Insurance General was awarded the “Most Valuable General Insurance Brand” in the Brand Finance report on Sri Lanka’s Most Valuable Brands 2021 edition proving its prowess to be awarded the prestigious title for the 4th consecutive year.

Sri Lanka Insurance Motor Plus redefined the motor insurance experience introducing multiple innovative motor insurance products to unique insurance needs of the market. Motor Plus Ladies Only, Motor Plus Tuk, Motor Plus Rider and Motor Plus Commercial are among the exclusive insurance solutions embraced by motor insurance customers in the market. The re-engineered motor claim settlement process facilitates fast-track and contactless claim settlements to customers.

Sri Lanka Insurance “Medi 60” another innovative insurance solution, designed especially for senior citizens of Sri Lanka was launched in celebration of the 60th anniversary. The medical insurance covers an array of health insurance needs and no medical test is needed to be eligible to obtain the insurance. The ‘Medi 60’ Health Cover enables senior citizens to reimburse medical charges, including hospital & surgery costs and medicinal expenses.