Eagle Insurance transforms into Aviva NDB

Eagle Insurance has transformed into Aviva NDB Insurance creating a milestone in the history of insurance in Sri Lanka.

The transformation revitalizes the Company with the combined strengths of its major shareholders, Aviva and NDB coming strongly into focus.

The farsighted strategy is designed to benefit customers with the worldwide expertise of Aviva and the financial power of NDB and its commitment to play a pivotal role in insurance.

Managing Director, Deepal Sooriyaarachchi said: "This vital step is an integral part of Aviva Group's vision of becoming 'One Aviva' to deliver a cohesive customer experience across the globe as the fifth-largest insurance group in the world, serving 50 million in 28 countries. More importantly for customers here, the transformation embodies NDB's continued commitment to insurance as one of the largest financial conglomerates in the country."

Emphasizing that Eagle's customers will continue to enjoy the professionalism, prudence, good governance, transparency and corporate responsibility that have been the cornerstones since the company's inception in 1988, Deepal said: The transformation does not change the close relationship we have with our valued clients as their insurer. Our clients can now look forward to a series of globally aligned, more innovative products and services on the wake of this historic transformation".

Since February 2006, Aviva and NDB, have been the main shareholders of Eagle with 51% and 41.15% holding respectively.

Chief Executive Officer of NDB Bank, Eran Wickramaratne said: "As the fastest growing, highest capitalized Sri Lankan commercial bank, NDB Bank enjoys a wide network and strong ties with customers and our name epitomizes Sri Lankan values as a world class Sri Lankan bank. We are therefore confident that we will instill greater customer trust towards Aviva NDB.

We have a diversity of resources, offering a wide-ranging portfolio of financial solutions that maintain the highest standards of competence and probity and this will be further enhanced by our focus on insurance with this transformation."

The Chairman of Aviva NDB, Bill Lisle spoke of how in the current era of globalization, global brands provide significant value that builds a higher degree of customer confidence.

"Aviva has set out to achieve the ambitious vision of becoming 'One Aviva' by converting over 50 different brands across the world into one unified global brand under one identity and value system.

We did this even when there was a global recession and our commitment and vision became a benchmark that has earned us admiration globally and rich dividends at the same time."

He said: "Sri Lanka with a focused development outlook is an important Asian market for Aviva and we are confident that this transformation would result in tangible improvements in every way.

The new strategies envisaged are designed to impact favourably on the transformed company.

The first of a series of many value added services that Aviva, as a global brand is poised to offer customers in Sri Lanka is the concept of insurance advisors becoming 'Wealth Planners' with skills to satisfy both Life and General insurance needs and in the near future Asset Management needs as well."