LOLC Life Assurance, LOLC General Insurance clinch Asia’s Best Employer Brand Awards 2021

LOLC Life Assurance Ltd. and LOLC General Insurance Ltd., two of the fast growing insurance companies in Sri Lanka, were recognised for its profound commitment to its staff at the recent Asia’s Best Employer Brand Awards 2021 organised by World HRD Congress in partnership with CMO Asia. 

Asia’s Best Employer Brand Awards 2021 is the 12th Edition of the event and this year’s event was hosted virtually from Taj Lands End Hotel, Mumbai due to the COVID-19 restrictions. 

More than 100 brands from over 20 countries in Asia compete for this coveted award each year. This year, LOLC Life and LOLC General Insurance were two of the six Sri Lankan companies that emerged as winners under stringent competition criteria.

Speaking on the achievement, LOLC Life Assurance Chief Executive Officer Nadika Opatha said: “As a company that has been in existence for less than 10 years, we are indeed honoured to have been selected for this prestigious award. Last year was a challenging year not just in Sri Lanka but the world over, yet the engagement that we had with our own staff and with our customers have really proven strong in a world body recognising our efforts. Employee success and wellbeing are key priorities at LOLC Life Assurance as it is for the entire LOLC Group. There were many engagement programs conducted, not only to our own staff but to our community as well. Most importantly I take this opportunity to thank our staff who worked tirelessly at getting this recognition. This award is a true testament that our efforts in Human Resources management is progressing in the right direction and we are truly honoured by this recognition. We will continue with our efforts to uplift the lives of our people – our most important and strongest asset of all.”

LOLC General Insurance CEO Kithsiri Gunawardena commented: “We are honoured and delighted to receive this prestigious award. Attracting, grooming and retaining talent is a key focus area and our human resource strategy has worked well for us over the years, making LOLC General Insurance one of the most desirable places to work with opportunities for personal and professional development. Recently introduced people practices has resulted in greater employee engagement and the service to our customers has improved tremendously, which has resulted in greater performances and reaching many milestones in this short period of time. We are also extremely proud to be the only two Sri Lankan Insurance companies to be recognised this year at the Asia’s Best Employer Brand Awards and the youngest Sri Lankan insurance company to have been recognised in this category through the years.”

The performance-based culture at LOLC Life and LOLC General continues with substantial budgetary allocation each year for Human Resource training and development purposes. A significant investment is being directed towards e-learning programmes so that staff can engage in learning at their own convenience. Both companies are committed to promoting an optimal work-life balance with focused training and rewards schemes being organised throughout the year for staff to improve quality, productivity and persistency. 

LOLC General Insurance and LOLC Life Assurance are fully owned subsidiaries of the LOLC Group – one of the largest and most diversified conglomerates in Sri Lanka with international presence. LOLC Life and LOLC General Insurance envisages to aggressively expand its nation-wide reach by establishing over 100 dedicated service points, penetrating into new regions during this financial year. 

During 2021, LOLC Insurance opened over 40 new branches. The two insurance companies look forward to spread its wings to strategically selected overseas markets as well. Both entities have already acquired the license to operate in Cambodia and the operations have already commenced.