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| Friday, 14 May 2004 |
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Delmege Insurance and AON Global clinch JKH Insurance Delmege Insurance Brokers (Pvt) Limited (DIB), a subsidiary of the Delmege Group, with AON Global has been awarded the contract to service the entirety of the John Keells Groups' insurance portfolio. "This is a stepping stone for the insurance brokering industry, where a diversified Group such as JKH has understood the value of an insurance broker. Over 90% of the Global Fortune 500 Companies use an insurance broker. Our function is to understand a company's present and future risk and provide a suitable solution, of which insurance is only a part of it" said Deputy Chairman DIB Niranjan Mendis, after signing the agreement which was attended by the CEO, AON Global Neil Mathews and Group Finance Director, JKH Ronnie Pieris. "As a result of the arrangement DIB and AON Global will handle the insurance of all 77 Companies within the John Keells Group - Sri Lanka, Maldives and India", Mathews said. He said that hitherto John Keells whose investments are diverse, include sectors such as transport, plantations, leisure, information and technology. had their insurance handled internally. However, from April 1, a decision had been taken to outsource a competent intermediary to service the entirety of their insurance portfolio. "Subsequent to a stringent bidding process, DIB in conjunction with AON Global will serve as insurance brokers and consultants to the John Keells Group" Mathews said. DIB /AON would be required to provide certain specialised services such as risk management, loss control and business continuity plans whilst guaranteeing speedy settlement of claims. The Delmege Group has been involved in the insurance business for over 50 years, with Delmege Insurance Brokers (Pvt) Limited, being incorporated in March 1994 to handle retail and wholesale insurance business. "Within a six years we have become the No. 1 broker which position we have been holding since", said Siyasena, Executive Director, DIB who added the focus of the Company was the corporate sector for general and life insurance. Delmege Insurance Brokers (Pvt) Limited, became the exclusive correspondent for AON in February 2001 with a Head Office in the heart of Colombo and a Branch Office in the Central Province. The Reinsurance businesses handled by DIB are mostly through the AON offices worldwide. The AON Group is a premier insurance brokerage and consulting Company and serves clients through more than 550 owned offices in 100 countries. Its revenue totals around US$ 4 Billion and is the second largest Reinsurance Broker in the world. "Due to our exclusive arrangement, we have managed to serve major Global businesses," he said. |
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