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Hayleys AIG transferred its life portfolio to Sri Lanka Insurance (SLI) recently. CEO Hayleys AIG Mike Blakeway said that from last year they stopped writing new life polices, as they wanted to focus attention to develop general insurance due to internal strategic reasons.

"Our priority was to find a suitable custodian for our life portfolio amounting to about 1,000 policies considering our long-term commitment to the policyholders. The decision to select SLI was based on its financial strength and its ability to meet its future policyholder obligations compared to its competitors", he said.

"As one of the largest foreign owned insurers in the country we have a long-term commitment to Sri Lanka.

Therefore we are actively pursuing an expansion strategy for general insurance and have even increased the capitalisation of our business to fund its growth to ensure the long-term strength of the company", he said.

CEO and Director SLI Damian Fernando said that they would get the services enjoyed by the customers of SLI. Due to SLI's extensive infrastructure and technical knowledge that has been developed over the last 40 years he was confident of exceeding expectation levels of the new policyholders in product innovation and service. He said at present SLI manages the largest Life Assurance Fund in the country and is the only rated insurer AA-(sri) with over 90 branches islandwide and an extensive agent network.

The life fund at present is valued at approximately Rs 30 billion permitting SLI to offer its existing and new policyholders unparalleled stability, exposure to new and innovative products and a level of service that cannot be afforded by its competitors.

www.ceylincoproperties.com

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