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Sri Lanka Insurance creates history:

SLIC bonus Rs 3 b

Poised to capture N-E opportunities:

An interim bonus of Rs. 3 billion has been declared by Sri Lanka Insurance Corporation Limited (SLIC) creating history in the insurance industry.

This is the single largest bonus issued by an insurance company for its participating policyholders for 2009. SLIC has become a benchmark in the country’s insurance industry and an active player in the centre stages of post war development of the country, said SLIC Chairman Pradeep G.S. Kariyawasam.

The SLIC is aligned to meet its vision and mission to uplift State sector standards and well poised to capture opportunities in the North and the East. With its innovation, diversification and customer friendly products SLIC is reaching greater heights in the industry. It continues to invest in staff training and development to be an institution of strength and stability, he said. SLIC has a life fund valued at over Rs 39 billion - largest life fund in the industry and asset base of Rs 65 billion with an aim to become the leader in the insurance industry.

It has the strength, capacity, capability and competence, said SLIC Managing Director Dr. Nalaka Godahewa.

The shift in the focus of the corporation towards meeting customer and national priorities is the base for innovation. SLIC would become the benchmark for effective management fulfilling the insurance needs of the nation, he said.

Insurance should penetrate every sector as it is an indication of economic development. The ultimate objective is to make insurance available to every citizen. With prudent investment management, Government protection and private sector service standard, the SLIC is well positioned to regain confidence of its customers. It is important to note that 2009 interim bonus supersedes the bonus for 2008 by as much as 40 percent, Dr. Godahewa said.

“We strive towards achieving greater economic success in this post war era. It is pertinent that the insurance industry plays its designated role by creating awareness of the need for insurance, for long-term sustainability of enterprises and livelihoods. As SLIC we have taken on this challenge and intensified our efforts to increase awareness of the criticality of insurance as a fundamental need and are pursuing a strategy aimed at increasing penetration of insurance,” he said.

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