Saturday, April 1, 2023

Sri Lanka Insurance inaugurates business operations for 2023

Embracing transformation for a better and brighter New Year

The Sri Lanka Insurance inauguration of business operations, for the year 2023, took place on 2nd January, at the Sri Lanka Insurance Head Office. Participants included the Chairman, corporate management, and staff of SLIC.

Even though the main event was reserved for a limited number of participants, all branches and staff joined the event via live stream. The inauguration of business operations commenced with religious observations, which included the four main faiths.

The past year saw Sri Lanka Insurance celebrate 60 years of service as the largest and strongest state insurer. The organisation remains at the helm of the insurance sector and has helped maintain industry-wide stability and equity, even during testing times. In fact, SLIC’s exceptional performance during periods of global crisis shows why it pays to be prepared. The organisation will continue to undertake strategic financial and fiscal risk management, supported by big data and a technologically driven Integrated Risk Management plan. By aligning the organisation’s business practices with the country’s development goals, Sri Lanka Insurance continues to go beyond the call of duty to contribute to economic progress, development, and growth.

SLIC ended the year on a high note, with multiple milestones and successes that advance the organisation’s overall mission, empowering its partners, people, and providers. By leading the way with innovations centred around technology and data, Sri Lanka Insurance has simplified insurance, making it more transparent, personalised, and accessible. The organisation is also at the forefront of sustainable investing, which promises excellent opportunities and impressive dividends in the years ahead.

Speaking about highlights from the past year and the promising future that’s been planned, Chairman Ronald C Perera, PC stated. “The year we leave behind was as memorable as it is historically significant. For over 6 decades Sri Lanka Insurance has been a guardian to the nation and its people, renowned as a beacon of strength and stability. We continue this proud tradition, leading the way not just on an economic front, but also in terms of environmental and social criteria.

Chairman Ronald C Perera, PC and Chief Executive Officer, Chandana L. Aluthgama addressing the gathering.

As an oragnisation we are stronger than ever with the largest life fund and asset base in the Sri Lankan insurance industry. Even during challenging times, we were able to award the highest ever Life Insurance bonus payment of Rs.9.8 Billion to our policyholders. We are delighted to conclude a successful year with over Rs. 20.7 Billion GWP in Life Insurance and Rs. 20.5 Billion in General Insurance business. We were also able to secure awards as the most loved Insurance brand and most valued General Insurance brand for the 5th consecutive year. This is in addition to a number of other awards and accolades we received during the year by incorporating progressive principles, sustainable values, and prudent business practices.

Sri Lanka Insurance has continued to lead the way, as a harbinger of progress and a bastion of strength. Caring for the well-being of our people is a priority for us and this earned us a CIMA Satyn Women Friendly Workplace Award, complemented by an Insurance, Finance, and Investment sector award at the ‘Great HR Quiz’. The organisation is technically robust and has been awarded the ISO 9001:2015 quality standard and Carbon Footprint Certification complying with ISO 14064-1:2018. Sri Lanka Insurance has also been extremely active on a social front, with CSR initiatives, including the construction of two isolation units at the Paediatric Ward and the donation of essential medicine to Apeksha Cancer Hospital under ‘Call to Donate’ and the gifting of free Life Insurance coverage to parents of children born on World Children’s Day”.

Chief Executive Officer, Mr. Chandana L. Aluthgama contributed to the event with an insightful and hopeful message, saying, “2022 was a challenging year, but we overcame these challenges together. The work we have done has a deep impact on the people and communities we serve. Making life better for all Sri Lankans. The organisation’s outlook, growth, and performance remain excellent. With a series of achievements including the launch of several new products all of which have performed beyond expectations. Like Medi 60 – Senior Citizen Medical Insurance. Motor Plus ‘Pinnacle’, ‘Medi Plus’ Health Insurance Plan, Janarekuma – Individual Personal Accident Cover, Drive 60 – Senior Citizen Motor Insurance and School Fee Protector.

Our mission is to exceed these achievements in 2023. By focusing on a superior customer experience, technological innovation, and socially inclusive culture we will continue to work towards our mission, adding value to the nation and protecting the lives of all Sri Lankans.”

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