Sri Lanka Insurance awarded ‘Best in Sri Lanka’ title
Sri Lanka Insurance shone at the recently held world finance
Insurance Awards when the company bagged the most prestigious coveted
award as the Best Insurance Company competing with the best in the
Insurance Industry in Sri Lanka.
Sri Lanka Insurance Managing Director Mohan de Alwis receiving
the award |
The World Finance Awards is organized by World Finance Magazine, a
leading financial magazine, published by World News Media operating from
its Headquarters in London, which reports on capital markets, risk
management, trading, technology, corporate governance issues and
regional markets including Asia, Latin America and EMEA.
The World Finance Awards identify industry leaders, individuals,
teams and organizations that benchmark achievements and best practices
in the financial and business world. The World Finance awards panel
scrutinizes the nominees under a stringent criterion which also includes
among many others, a company’s constant skill for innovation,
originality and quality of product, as well as proof of market
development and excellence in client representation.
Receiving the award Managing Director of Sri Lanka Insurance Mohan de
Alwis said; It is a privilege and an honour to have been chosen as the
best insurance company in Sri Lanka for 2012. It is a real tribute to
our company and all its stake holders, more importantly for our staff
and customers. It’s significant that we have received this award of
excellence as we celebrate our 50th anniversary.
De Alwis further stressed while quantitative performance denotes the
stability and strength of an organization, the fundamentals of openness,
honesty, transparency, integrity and accountability must be within the
culture. We make our financial performance available for public scrutiny
and are cognizant that the ethos of a strong and reliable insurance
provider must be backed by products and services that are true to the
delivery promise.
This means that we have to constantly improve our service levels,
because being a very competitive industry, to gain market share, we must
make service excellence our competitive edge.”
Sri Lanka Insurance claims the position of the largest and strongest
composite insurance provider in Sri Lanka. SLIC is backed with very
strong re-insurance arrangements, a highly experienced technical
knowledge base and the wide network across the country.
Speaking on the Company’s diversification of the investment portfolio
in to other sectors, Piyadasa Kudabalage, Executive Director (SLI) said
that the company has leveraged on strong brand equity and high liquidity
base to embark on strategic diversification over the last few years.,
Kudabalage said, “Since 2008, SLI has diversified its portfolio into
investments into healthcare, hospitality, manufacturing, construction
and trading. In 2010, the company made inroads to Sri Lanka’s consumer
market through the 100 percent acquisition of Litro Gas Terminal Lanka,
formerly known as Shell Terminal Lanka. As part of the diversification
process, a five-star hotel Hyatt Regency Colombo is in the process of
being constructed and the management of the hotel is outsourced to the
world renowned hotel management chain Hyatt Regencies Worldwide.
SLI continues to etch its values and principles even further by
pushing unprecedented boundaries to gain rankings, ratings and standards
that are firsts for the insurance industry. It is the first insurance
company in Sri Lanka to gain an AAA rating from RAM Ratings (Lanka) and
the first to attain a highest global rating of BB- and domestic rating
AA(lka) from the global rating agency Fitch Ratings. Encouraging the
permeation of best practices and international standards, SLI is also
the first insurer to gain ISO 9001:2008 certifications. |