Arpico Insurance off to a strong start in 2020

Monday, 24 February 2020 00:00 - - {{hitsCtrl.values.hits}}

Arpico Insurance Chairman Viville Perera (right) in a conversation with acting CEO Harsha De Alwis at a branch opening

With an ambitious plan to be a leading insurance provider in the country, Arpico Insurance PLC which is a fully-owned subsidiary of one of Sri Lanka’s largest blue-chip conglomerates, Richard Pieris & Company PLC, kick-started this year with six branch openings and achieved highest recorded sales.

In the two months alone, the company established its presence in Batticaloa, Kalmunai, Ampara, Hanwella, Baddegama, and Embilipitiya as part of its rigorous branch expansion strategy. In January, the insurance provider recorded the highest ever sales figure for a month excluding its Group Life revenue, exhibiting over 100% growth in new business for the month in comparison to January last year.

Having forayed into the insurance industry in 2011 with the visionary leadership of the group’s Chairman Dr. Sena Yaddehige, Arpico Insurance PLC has embarked on a highly progressive action plan to be the most trusted life insurance brand today. It received the license by the Insurance Board of Sri Lanka to operate as a Life Insurer and posted a GWP of Rs. 100 million in the same year it began operations.

The company continues to strengthen its portfolio and presently offers a range of plans such as endowment, term assurance, education, investment, retirement, group assurance, loan protection, relief amongst others.

“We are immensely proud of our progress in the recent years to be one of Sri Lanka’s fastest growing and most trusted insurance companies today backed by the strength and support of our parent group which has an outstanding reputation championing the hearts of the Sri Lankan community for over eight decades. We thank our customers, employees and stakeholders for helping us get this far. We are confident to reach greater heights in the insurance industry,” said Arpico Insurance PLC Acting CEO Harsha De Alwis.

Arpico Insurance PLC was named as the ‘Most Trusted Life Insurance Brand in Sri Lanka’ for 2019 and ‘Most Successful Life Insurance Company in Sri Lanka’ for 2018 by Global Brands Magazine, and was bestowed the hallmark certification for ‘Special Recognition for Risk Management Strategy of the Year’ at Asia Insurance Awards 2019 held by the Indian Chamber of Commerce (ICC). The insurance provider was also awarded the ‘Fastest Growing Life Insurance Company in Sri Lanka’ in 2017 as well as 2018 by Global Banking & Finance Review Awards.

The company felicitated high performers during the half of 2019 by recognising and awarding them in a glamorous event held last month which was attended by its senior management and directors from its parent group. The top 75 performers in all categories of sales were rewarded with a fully-paid tour to Malaysia.

Established in 2011, Arpico Insurance PLC has evolved to be a leading insurance provider in Sri Lanka in less than a decade, surpassing many others in the industry. Backed by the philosophy and values of its parent group Richard Pieris and Company PLC, it aims to be the most trusted and innovative solutions provider for life insurance needs.