Sri Lanka Insurance pays off Rs. 11 m in claim settlement to Jafferjee Bros

Thursday, 21 October 2010 01:56 -     - {{hitsCtrl.values.hits}}

Sri Lanka Insurance, the State-owned insurance giant, once again demonstrated its ability and absolute commitment of keeping its promise to customers, by honouring claim settlement amounting to Rs.11 million under Marine Cargo Insurance Policy for exports to Jafferjee Brothers.

Jafferjee Brothers has been a very loyal customer of Sri Lanka Insurance for more than 40 years obtaining factories and cargo comprehensive insurances.  

This claim was a result of an accidental damage to a container of export tea in bags while shipping to Russia in the Mediterranean Sea close to Egypt. Sri Lanka Insurance followed accurate claim assessing procedures, by a team of Russian Surveyors represented by W.K. Webster and Company of London, to ensure that the customer receives a just and fair settlement.

Correct governance procedures, strong reinsurance arrangements and an asset base of over Rs. 71 billion endorses Sri Lanka Insurance as the strongest insurer in the country today.   

Sri Lanka Insurance is the largest Government-owned composite insurance provider in Sri Lanka and is the only insurance company to be awarded AAA by RAM Ratings which affirms the corporation’s long-term claim paying ability.

SLIC is also the first insurance company to receive an independent rating of AA-(lka) from the global rating agency FitchRatings (London), which also affirms the corporation’s long term financial sustainability.

It is the first and only insurance company to have been awarded the ISO 9001:2008 certification and thereby becomes the only insurance company in Sri Lanka to be thus endorsed by an international quality rating organisation.

Sri Lanka Insurance was honoured to be chosen as the ‘Best Insurance Company of the Year 2010 – Sri Lanka’ at the World Finance Awards in London competing and winning against the best in the insurance industry in Sri Lanka.