MBSL Insurance opens 50th branch in Polonnaruwa

Insurance companies play a pivotal role in the wealth creation of a nation and MBSL Insurance is in the forefront of the Insurance industry in Sri Lanka. Having recently opened its 50th branch, MBSL is living up to its vision of ‘empowering the less privileged’ in the towns across Sri Lanka, with a strategic vision to open 100 branches by 2012.

The insurance industry in Sri Lanka is currently experiencing a growth momentum and has posted a General Insurance growth of 20.85% and Life Insurance growth of 13%. MBSL Insurance has recorded general issuance growth of 36.4% and life insurance growth of 60% well and above industry level.

MBSL has reached out to the masses to date and with this latest milestone opening reaches out to the discerning people in Polonnaruwa, with tailor-made seasonal insurance packages, providing security to its social sectors, whilst nurturing entrepreneurial spirit, especially among the rural youth.

 “We plan to employ many youth in Polonnaruwa both to the permanent and mainly non-permanent cadre, generating employment to many youth and thus empowering them, in keeping with the ideology of our Insurance company,” MBSL Insurance Managing Director Sydney Gajanayake stated.

The new branch at Polonnaruwa signifies a move to incorporate human resources into the industry and prosper the community and country at large. The insurance industry is lucrative and an attraction to  employees and prospective employees, offering a basic salary structure and incentives schemes, in sales and marketing, finance, technical, risk management, etc.,

More than 500 permanent and non-permanent employment opportunities will be created and absorbed from Polonnaruwa and its precincts, harnessing the knowledge and pulse of the territory, which will add value to the clients in the region. Agriculture and farming is of paramount importance in this area, as it is endowed with a cultural heritage, symbolically being part of the ‘rice basin’, during the reign of the Polonnaruwa kings.

 “MBSL Insurance will also take a fair share in the training of its employees at the modernised MBSL campus, training them to meet the exacting needs of the customers, whilst developing and fine-tuning soft skills and IT skills to enhance efficiency. We will also maintain ethical standards and best practices. The employees will also be made share holders to add value to their stake in the company,” opined Gajanayake.

 “We will offer prosperity and security to the people of Polonnaruwa, whilst connecting them to the industry at large, as we want them to realise that they are part of the larger vision to be part of Sri Lanka’s success story and its dream of being the “miracle of Asia,” emphasised Gajanayake.

MBSL Insurance has made this strategic move to Polonnaruwa after market research and is geared to offer value added services to many of its new clientele, whilst empowering them to be self-sufficient.

MBSL Insurance is headquartered in Colombo and is anchored to its parent company the Merchant Bank of Sri Lanka. Merchant Bank of Sri Lanka is a leading brand name in the Banking Industry and offers corporate advisory and capital market services.

 “MBSL Insurance will enact its strategic plans to empower communities in Sri Lanka and aspires to be a world-class player in a global context. Its major shareholders constitute BOC Group and MAS Group, which are financial giants in their respective industries, and contribute to strengthening MBSL Insurance, so that it has the reliability and sustainability that is of paramount importance for a key player in the industry,” concluded Gajanayake.

MBSL Insurance with its focus on strengthening the industry, coupled with its business vision to “empower the less privileged” by reaching the rural masses and empowering them by affording employment, will prosper the Polonnaruwa community and Sri Lanka at large.