Sri Lanka Insurance declares Rs. 4 b as bonus to Life policyholders

Thursday, 5 July 2012 01:56 -     - {{hitsCtrl.values.hits}}

Sri Lanka Insurance, the nation’s flagship State insurer, declared a Rs. 4 billion in Life insurance bonus for its policyholders this year, endorsing 50 years of trust placed in the company by the Sri Lankan people.

The declaration comes breaking the company’s own record of the highest bonus declared in the industry last year of Rs. 3.4 billion.

Explaining how the company was able to achieve this success, Sri Lanka Insurance Managing Director/CEO Mohan de Alwis said: “It is yet another achievement of Sri Lanka Insurance to able to declare the highest Life insurance bonuses year-on-year unbeaten to date. We are the largest Life insurance fund in the industry of Rs. 56 billion and through prudent investments made from this fund with the aim of yielding the highest returns for our customers has made it possible for us to declare a bonus of Rs. 4 billion to our participating life policyholders this year.”

He said Sri Lanka Insurance firmly believes that every individual should invest in Life insurance as it provides a dependable fallback plan which safeguards families and equips them to deal with the results of unforeseen disasters, hence the company has an intricately woven policy system which enables customers to select from a wide range of options which can be adapted according to their individual requirements.

Sri Lanka Insurance has also been in the fore front of taking the message of insurance to the masses of Sri Lanka, using the strengths of its 125 fully networked branches and through the recent strategic partnerships that the company entered in to with banking and telecommunication providers.

Sri Lanka Insurance, the largest Government-owned composite insurance provider in Sri Lanka, is the first insurance company to have been assigned a global rating for financial stability AA (lka) from Fitch Ratings, London, which is an assurance of the company’s long-term financial sustainability.

Sri Lanka Insurance is the only insurer who was awarded RAM Ratings AAA for its ‘long term claim paying ability,’ which further affirms the corporation’s capacity to meet financial obligations to policyholders.

The company has also been awarded ISO 9001:2000 certification for correct governing and operational procedures in line with accepted global standards which is further endorsed by the recent international awards the company has claimed, including the World Quality Commitment Gold Award in 2011 in Paris, the Platinum Award 2012 in New York and a World Finance Award in London as the Best Insurer of the Year 2010 in Sri Lanka.