Lanka Orix Insurance brokers record Rs. 500m annual turnover

Lanka Orix Insurance Brokers was set up by its parent company, LOLC with the main intention of providing insurance services to its leased asset portfolio/clientele during the lease period, a spokesman for the company said.

However, the company recognised that there is a growing need in the country for expertise and professionalism when insurance services were required. Hence, the company expanded its services to reach this clientele, which includes the corporate sector as well. The company has been able to achieve great heights, and is ranked among top five insurance brokers in the country, with an annual premium turnover of nearly Rs. 500 million.

He said a state-of-the-art computer system was developed enabling all 19 branches of the company to be linked, and as a result of this linkage, we have been able to provide a superior service to all our customers - The company can confirm cover for any risk on behalf of the 14 registered insurance companies in Sri Lanka, and also has three of these companies issuing certificates within our office, which enables us to hand these to our customers over the counter.

The company also works very closely with foreign reinsurers, reinsurance brokers and especially with Fuji, Fire and Marine Reinsurance Limited of Japan, an associate company of ORIX - Japan, and with these close links the company has access to the global reinsurance market, which enables us to obtain optimum cover.