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Thursday, 8 March 2012

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Orient Insurance launched

Orient Insurance, Sri Lanka Chief Executive Officer Deepthi Lokuarachchi, Al-Futtaim Group UAE Vice Chairman Omer Al Futtaim, Arab Orient Insurance UAE Senior Managing Director/ Orient Insurance Ltd Sri Lanka Chairman Omer Elamin, Associated Motorways Chairman Len Hurt and Orient Insurance Limited Vice Chairman/Associated Motorways (Pvt) Ltd President, Thilak De Zoysa at the launching of Orient Insurance

Orient Insurance, a fully owned subsidiary of Arab Orient Insurance PCS was officially launched in Sri Lanka Tuesday with an investment of Rs 750 million. Arab Orient Insurance PCS is part of prestigious UAE based Al-Futtaim group. Though the orient insurance was officially launched on Tuesday, the company secured the Insurance Board of Sri Lanka approval to operate in Sri Lanka in October last year and was operational since December 1, 2011. The company will function in the general insurance sector with the insurance classes of motor, marine, property, liability, medical and other sectors that come under the general insurance business.

Arab Orient Insurance UAE, Senior Managing Director and Orient Insurance Ltd Sri Lanka Chairman, Omer Elamin said “Orient Insurance is well-positioned to be a strong player in Sri Lanka's general insurance segment. We are looking at expanding our presence in Sri Lanka and so far we have opened five branches in the Colombo area and another eight in outstations. Another four branches will be opened before the end of March, this year. We believe in upholding our core values of integrity, service and social responsibility and we aim to provide the Sri Lankan market with risk solutions within a professional culture. In addition we will be looking at opportunities in real estate and leisure sectors in Sri Lanka in the coming years.

Associated Motorways is the sister company of Orient Insurance. With over 60 years of experience in the motor industry, AMW's local understanding of the automobile industry and network of outlets will enable Orient Insurance to understand and have an edge in the motor insurance needs for the local market.

 

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