State-owned Sri Lanka Insurance Life (SLICL), has declared the highest ever bonus in the Sri Lankan industry to its policyholders, amounting to SLR11.2bn($36m) for the year 2023.
Since 2006, the company has been declaring the highest life insurance bonuses y-o-y in the industry, with the total amount declared till date amounting to SLR104bn. SLICL was able to increase its asset base to SLR221bn and the life fund to SLR180.8bn.
Customer-centricity has been the strategic pillar of SLIC’s business drive and the company is determined to look at identifying new market segments and understanding the needs of its customers to develop affordable and suitable products. ‘Wealth Plus’, a short-term investment plan with long-term protection now enhanced with flexible payment term options, was launched in 2023 for greater customer convenience.
SLIC Group CEO Mr Chandana Aluthgama said that SLICL with a legacy of 60 years has always stood with its customers and kept its promise. “Despite various challenges, we have remained steadfast in our mission to prioritise the well-being of our customers. The company’s prudent management strategies and positive approach towards the growth of the business has earned us great results for the year 2023,” he said.