Eagle becomes Aviva NDB Insurance

Eagle Insurance has transformed into AVIVA NDB Insurance creating a milestone in the history of insurance in Sri Lanka.

The transformation revitalizes the Company with the combined strengths of its major shareholders, Aviva and NDB coming strongly into focus.

The strategy is designed to benefit customers with the worldwide expertise of Aviva and the financial power of NDB and its commitment to play a pivotal role in insurance.

Managing Director Deepal Sooriyaarachchi said: "This vital step is an integral part of Aviva Group's vision of becoming 'One Aviva' to deliver a cohesive customer experience across the globe as the fifth-largest insurance group in the world, serving 50 million in 28 countries.

For customers here, the transformation embodies NDB's continued commitment to insurance - as one of the largest financial conglomerates in the country."

Emphasizing that Eagle's customers will continue to enjoy the professionalism, prudence, good governance, transparency and corporate responsibility that have been the cornerstones since the company's inception in 1988, Deepal said: "The transformation does not change the close relationship we have with our valued clients as their insurer. Our clients can now look forward to a series of globally aligned, more innovative products and services on the wake of this historic transformation - thanks to Aviva's benchmark standards, insights and expertise.

Since February 2006, Aviva and NDB, have been the main shareholders of Eagle with 51 percent and 41.15 percent holding respectively.

Chief Executive Officer of NDB Bank Eran Wickramaratne said: "As the fastest growing, highest capitalized Sri Lankan commercial bank, NDB Bank enjoys a wide network and strong ties with customers and our name epitomizes Sri Lankan values as a world class Sri Lankan bank. We are therefore confident that we will instill greater customer trust towards AVIVA NDB. We have a diversity of resources, offering a wide-ranging portfolio of financial solutions that maintain the highest standards of competence and probity and this will be further enhanced by our focus on insurance with this transformation."