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.
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
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