Sri Lankas largest private insurer, Ceylinco Insurance Co. is looking overseas with plans to add a few branches to its existing operations.
Talks are under way to open up branches in Burma, Pakistan and Uganda in the coming months, Chairman Deshamanya, Lalith Kotelawala told journalists. rn
rnThe company currently has operations in Nepal (joint venture with Sagarmatha Insurance), Bangladesh (through Agrani Insurance), Mauritius (with Stella Insurance) and a representative office in the Maldives. rn
rnKotelawala said the firms General division has a 24 percent market share in the local market, largely due to its policy of coming out with customer friendly insurance products. rn
rnGeneral insurance presently accounts for just over 7 percent of Sri Lankas total insurance market. rn
rnCeylinco Generals VIP policy (Vehicle Insurance Policy) was recently re-launched to offer on-the-spot cash in the event of an accident.rn
rnThe firm has over 75 automobile agents on call, who will pay up to Rs. 20,0