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Tuesday, 8 May 2012

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Pioneer Life Insurance in USA:

MetLife Alico to enter Sri Lanka

One of the leading American Insurance companies, MetLife Alico is looking at tenting the Sri Lankan insurance market. The Agency Manager MetLife in the United Arab Emirates, Suren Swaminathan said that the economic climate is ideal for a company of this magnitude to extend their foot print to Sri Lanka.

“Metlife Alico is presently located in India, Pakistan and Bangladesh, and since the penetration of the Sri Lankan insurance industry is very low it gives tremendous opportunities for yet another player to enter the market,” he added.


Suren Swaminathan

MetLife Alico is an affiliate of MetLife, Inc., a leading global provider of insurance and employee benefit programmes.

Through its subsidiaries and affiliates, MetLife serves more than 90 million customers around the world.

MetLife Alico, a pioneer of life insurance in the UAE, has been helping the business community with their insurance needs since 1962.

MetLife Alico’s regional hub serving the Middle East is located at Dubai International Financial Centre.

The Gulf head office is located in Sharjah.

He further said, he is currently working out an agreement with the American based player who is very keen to enter Sri Lanka.

Meanwhile, two of Asia’s reputed food chains ‘Hot Breads’ and ‘Wangs’ will be opening their outlets in Sri Lanka by the end of 2012.

Swaminathan who is the franchise holder of these two brands in the United Arab Emirates said both companies would be investing around Rs. 500 million in total for these ventures.

Hot Breads, is a unique bakery and cafe, located in Southern India.

HotBreads has earned a name as one of the finest baking companies in USA, UK, France, Canada, UAE, Kuwait, India, Nepal, Bangladesh, Botswana and Ghana.

Wangs, a Chinese food outlet chain serving authentic Chinese cuisine and has branches in Asia, including India, Pakistan and Bangladesh. Foodie, professor, restaurateur and entrepreneur M. Mahadevan originally founded Oriental Cuisines Private Limited (OCPL) in May 1994 under the name of Chaitanya Gourmet Splendour Private Limited. It was later renamed Oriental Cuisines Private Limited in March 1997.

He said that he is planning to open both these outlets at the same venue for easier logistics.

“I am hoping to open in Wattala and then branch out to Rajagiriya by the end of this year. Hope moving to the South and Kandy as well by early 2013.”

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