People’s Insurance: Steering insurance industry to new heights

People’s Insurance PLC, a leading insurer with seven years of sound insurance portfolio, recently announced the relaunch of its insurance brand. Backed by its stalwart parent companies – the People’s Bank and the People’s Leasing Finance PLC – the People’s Insurance has shown tremendous growth over the years providing innovative solutions to the nation, built on a solid foundation of utmost trust and care. 

People’s Insurance Chairman Jehan P. Amarathunga addressing the distinguished guests at the relaunch of the brand’s new logo

People’s Insurance PLC (formerly known as People’s Insurance Ltd.) was inaugurated in 2010 as a non-life insurer specialised in delivering a host of lifestyle and business insurance products led by motor insurance. Showing a promising growth in the initial year of operation, People’s Insurance recorded a premium revenue of Rs. 933 million. During the first quarter of 2011 the company recorded an annual premium income of Rs. 1 billion, becoming the fastest non-life insurer to achieve a feat of this scale. And within the same year, the company’s total assets exceeded Rs. 2.5 billion. In 2016, People’s Insurance Ltd. became People’s Insurance PLC, ensued by its investment portfolio showing a significant growth by exceeding Rs. 5 billion.

As a multi-award winning insurer, People’s Insurance has clinched the ‘Industry Gold Award’ and ‘Top National Honours’ for its very first annual report in 2013 at the prestigious annual report competition ‘LACP 2012 Vision Awards’ held in Florida, USA. Furthermore, the company also bagged ‘Insurance Companies Compliance Award’ at the Chartered Accountants’ Annual Report Awards 2013 organised by the Institute of Chartered Accountants of Sri Lanka. 

Commenting on the occasion, People’s Insurance PLC Chairman Jehan P. Amaratunga noted, “We commenced our business seven years back and today we have emerged one of the most profitable insurers in the country with consecutive underwriting profits during last five years. We are a part of the country’s largest financial group, consisting of People’s Bank and People’s Leasing & Finance PLC and are backed by strong international reinsurers (rated above the minimum standards set by the IBSL). Armed with the ‘strength of the state sector’ and the ‘efficiency of the private sector’, you can be assured that our new promise is delivered to you.”

People’s Insurance PLC Chief Executive Officer Deepal Abeysekara expressed his views stressing that People’s Insurance is in the forefront of non-life insurance industry. “We are well known among our insured public for our prudent underwriting and efficiency of service. Our successful journey reached a culmination in 2016 when our company was positioned among the biggest stakeholders in the insurance sector after recording an investment portfolio which surpassed Rs. 5 billion. Inimitable strength, stability and sustainability have placed us in the industry as the most trusted insurance company in Sri Lanka. Customers are our greatest assets, and we will continue to serve them with greatest care by being a part of their success story in life as well as in the corporate world.”

Sharing his views, Technical Consultant of People’s Insurance PLC Nimal Perera noted, “Prior to assuming the current role, I was serving as the Chief Operating Officer from 2010 up until 2016. I have witnessed the company’s steady and substantial growth in terms of assets and revenue for the last seven years. Our versatile insurance schemes are strongly backed by a 24 hour dedicated call centre, offering speedy underwriting and settlement of claims. Adopting industry’s best practices, innovation and cutting edge technology, we intend to serve our customers for many more years.” 

Chairman Jehan P. Amaratunga relaunching the brand’s new logo along with Peoples Insurance CEO Deepal Abeysekera

Serving with a network of over 100 window offices at Peoples Leasing & Finance and Peoples Bank branch network across the island, People’s Insurance deliver a host of packages under Lifestyle and Business categories. With its Lifestyle insurance, the company covers a wide spectrum of risks including dwelling fire, home insurance, personal accident, healthcare and motor vehicle insurance. Moreover, its Business category offers diverse solutions including commercial fire, burglary insurance, machinery/electronic equipment insurance, contractors all risk insurance, workmen’s compensation insurance, marine (cargo) insurance and Goods in Transit insurance. 

The services of People’s Insurance are backed by a fully-fledged Call Centre furnished with state-of-the-art equipment. Highly skilled, friendly and courteous staff at the 24 hour call centre is committed to providing immediate response to queries and claims. With a vision to build lasting trust based on strength, stability, and sustainability – People’s Insurance PLC continues to serve its customers with trusted excellence as a long-standing proven leader in the insurance industry.