Sunil Siyasena appointed as CEO of MBSL Insurance

Wednesday, 20 August 2014 01:00 - - {{hitsCtrl.values.hits}}

Sunil Siyasena, a veteran in the Insurance Industry has been appointed as the CEO of MBSL Insurance Company Ltd., recently. Siyasena carries a wealth of experience both locally and internationally. Uniqueness of Siyasena’s career is that he has had the privilege in serving both Insurance and Broking Sectors throughout his career spanning over 40 years which will immensely help him in his new position.

Currently he is an Executive Committee Member of the Insurance Association of Sri Lanka representing MBSL Insurance Co. and he also been the President of the Sri Lanka Insurance Brokers Association from 2007 to 2009. A further landmark of his career is that he has represented AON Benfield in Sri Lanka the largest insurance/reinsurance broker in the world for well over a decade as the Specified Officer. An Associate of the Chartered Insurance Institute of London, Siyasena has held senior positions at Delmege Insurance Brokers Ltd., Whittal Boustead, National Company for Cooperative Insurance (UAE), Union Assurance Ltd. and National Insurance Corporation. He was also the President of the Sri Lanka Insurance Institute in 2004. On his appointment as the new CEO, Siyasena said that “MBSL Insurance is poised to grow as a leading Insurer by 2016 through a strategy of enhancing the core business with the expected support from our corporate parents Merchant Bank of Sri Lanka Plc., (MBSL) and Bank of Ceylon. He further stated that the prime focus will be to address customers at all levels of the society through an enhanced product portfolio and a wide network of customer service centers. “We have already undertaken drastic internal changes to boost our customer services to superior standards. High customer satisfaction, good governance and a dedicated and motivated staff are the three key elements of our strategic thrust,” says Siyasena. MBSL Insurance Company Ltd., is licensed by the Insurance Board of Sri Lanka (IBSL) and was incorporated on 24 September 2004 under the Companies Act No. 17 of 1982 and duly registered under the Companies Act No. 07 of 2007. The main shareholder of MBSL Insurance is Merchant Bank of Sri Lanka Plc., (MBSL) with a strategic stake of 78.02% and MBSL is a subsidiary of the banking giant Bank of Ceylon.