Seylan Bank ties up with LOLC Insurance for bancassurance

Thursday, 6 June 2013 01:44 - - {{hitsCtrl.values.hits}}

Seylan Bank recently tied up with LOLC Insurance Co. to offer its customers across Sri Lanka, a wide range of insurance products. As part of this strategic tie-up, Seylan Bank branches around the country will host a representative from LOLC Insurance, who will attend to the insurance needs of the bank’s customers.

Seylan Bank’s General Manager/CEO Kapila Ariyaratne said: “Seylan Bank always strives to give its customers, the best of convenience and the most value for money. As we celebrate 25 years of banking excellence this year, we are indeed happy to join hands with LOLC and further enhance the portfolio of services available to our customers through our branch network. They will now have the convenience of attending to their banking as well as insurance needs, all under one roof, thereby making their visit to Seylan Bank more convenient and rewarding.”

The products on offer include both Life and General insurance designed to offer a wide cover of insurance protection for the customer. In the Life insurance category are products with more emphasis on protection. ‘LOLC Guaranteed’ is a simple endowment product with a guaranteed sum assured for a minimum premium, while ‘LOLC+10’ is where the basic sum assured increases by 10% every year.

All these long-term policies have additional comprehensive riders for the insured, spouse and child. Among the short term life covers are ‘Divi Saviya’ and ‘Isuru Sahana’ which target loans, leases and the SME sector. In the General Insurance category are products which cover Fire, Title and Marine.

LOLC’s Group MD and Chairman LOLC Insurance Co. Kapila Jayawardena said: “We are happy to join forces with Seylan Bank and share the excellence of our products with as many Sri Lankans as possible. This will no doubt be an easy task, given Seylan Bank’s constantly growing customer base, coupled with its wide reaching presence across the entire country.”

“Seylan Bank has over the years developed excellent capabilities in Bancassurance and the tie-up with LOLC, with its strong branch network over the island, will take this line of business to a much higher level,” Jayawardena affirmed.

“This is just the beginning of Bancassurance with Seylan Bank. We are expanding this service area and will continue to improve the options open to our customers who are looking to fulfil their insurance needs,” Ariyaratne affirmed.

Quoted on the Colombo Stock Exchange and with a stellar performance in recent years, Seylan Bank recently turned 25 years, and strides ahead in its drive to touch the lives of thousands of Sri Lankans from all walks of life. Its 149 outlets, which consist of 112 branches and 37 extension offices in an island-wide real-time connected network, supported by 154 ATMs, are fully geared to deliver the bank’s exciting and wide ranging portfolio of products and services to its thousands of satisfied customers all over Sri Lanka.