Commercial Bank partners Continental Insurance for Bancassurance

Friday, 30 November 2012 03:12 -     - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon has expanded it’s offering in bancassurance by entering in to an agreement with Continental Insurance Lanka Ltd., to sell the latter’s General insurance products through the Bank’s islandwide network of branches.

 This will enable Commercial Bank’s customers’ convenient access to a multitude of Continental’s insurance solutions for individuals and corporates.

The agreement envisages that the bank will offer insurance cover based on Continental’s Motor Insurance, Travel Insurance, Private Dwelling Insurance, Fire Insurance and Personal Accident Insurance products.  The Bank’s extensive network of 226 service points enhances the convenience of purchasing insurance products of Continental Insurance and makes the payment of premiums extra convenient and hassle free for the company’s policyholders.

The Memorandum of Understanding pertaining to the bancassurance partnership was formally ratified by Commercial Bank’s Managing Director/CEO Ravi Dias and Continental Insurance Director, Chaminda De Silva.  Continental Insurance Lanka Limited is a member of the Distilleries Group of Sri Lanka (DCSL Group). It has become the fastest growing insurance company in Sri Lanka and has been instrumental in providing innovative insurance products to the market. It currently operates out of 28 branches equipped with the very best in technology. The company offers tailor-made insurance products for both personal and business requirements. The largest private bank in Sri Lanka, Commercial Bank is the only Sri Lankan Bank to be listed two years consecutively in the world’s Top 1000 Banks. The Bank operates a network of 226 service points in Sri Lanka and a network of 546 ATMs, the single largest ATM network operated by a bank in the island. It also operates 17 service points in Bangladesh. The Bank has been adjudged ‘Best Bank in Sri Lanka’ for 14 consecutive years by ‘Global Finance’ Magazine, and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.