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| Sunday, 8 December 2002 |
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| News Business Features Editorial
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Indian life insurance giant in Sri Lanka Life Insurance Corporation of India (LIC), one of the largest life insurers in the world, was incorporated in Sri Lanka as a joint venture with Bartleet and Company Ltd. LIC (Lanka) Ltd has already set up its office in Colombo and is now in the process of being registered with the regulators and preparing for the establishment of the company in Colombo, LIC (Lanka) Chief Executive Officer R. Gopinath said. He said the Sri Lankan market holds great potential as only seven to eight per cent of the market has been covered so far. He added that the company will focus on the quality of people it recruits. A training academy will be set up in the same building and Indian trainers will also conduct programs. Gopinath has over 17 years managerial experience in LIC and is a well-known trainer himself. LIC settled 865.5 million claims last year (27 claims per second). It services 128.1 million life insurance policies, the largest in the world by a life insurer according to the company, and has over 792,000 agents. The Bartleet Group was established in Sri Lanka over 100 years ago. It started with tea broking and has now diversified to many other sectors including financial services, stockbroking and information technology. |
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| Editorial | Security Produced by Lake House |
