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.
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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