Orient Insurance further expands island-wide operations

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12Oct2016

Orient Insurance further expands island-wide operations

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Orient Insurance Ltd., as part of its expansion strategy, has re-located its branches in Kandy and Kurunegala to spacious new locations to facilitate greater convenience to its customers. Orient has also opened five new outlets at AMW locations in the key towns of Jaffna, Ampara, Wattala, Panadura, and Mt. Lavinia, thereby increasing Orient’s total network to 29 locations island wide.

Commenting on the expansion trajectory, Orient Insurance Chief Executive Officer Tanuj Edward commented, “This growth momentum is directly in line with our vision to be the premier General Insurer of Choice in Sri Lanka.” He further added, “Orient Insurance has made its mark as one of the fastest growing General Insurance companies in Sri Lanka. As a fully owned subsidiary of Orient Insurance PJSC, Dubai we are proud to introduce the best practices of the Group to Sri Lanka and offer innovative and dynamic Insurance solutions, along with integrity and unmatched service.”

Elaborating further he commented, “We are backed by the gigantic financial strength of the Group which speaks volumes about our stature and stability. We cater to the diverse protection needs of the Sri Lankan market and are excited about the plans and strategies we have in place in offering unique insurance solutions to provide peace of mind to our valued clientele.”

Speaking on the occasion, Orient Group President Omer Elamin commented, “Orient Insurance Sri Lanka brings with it the rich heritage of over 35 years of insurance experience of Orient Insurance, UAE and over 85 years of corporate experience of Al Futtaim Group. Bolstered by this international experience and expertise backed by Orient UAE’s support and strong ratings, Orient Insurance Sri Lanka is well positioned to be a major player in the market.”

Orient Insurance PJSC, Dubai considered as one of the most stable insurance companies in the region is part of one of the largest business houses in the Middle East, the Al-Futtaim Group. Orient Insurance, Dubai has secured the prestigious ratings of A (Excellent) from AM Best and A (Strong) from S & P, the highest combined ratings of any listed company in the region. The company also gained accreditation of ISO 9001 Quality Management and won many awards including UAE Insurer of the Year from MENA Insurance Review and the General Insurer of the Year from Insurex.

During 2015, the Orient Group wrote a total gross premium of $ 636 million (Rs. 92 billion) and achieved a net profit of $ 74 mill (Rs. 11 billion). Total investments amounted to $ 897 million (Rs. 130 billion) as at 31 Dec 2015. Orient Sri Lanka is backed by this phenomenal strength of the Group. The strategic partnership with the well-known automotive group, AMW, the market leader in the motor industry of Sri Lanka for more than 65 years, and the exclusive agents for Nissan, Suzuki, Renault, and Maruti brands provides a strong support for Orient Sri Lanka. .

Orient Sri Lanka commenced operations in 2011 as a General Insurer and is backed by global re-insurers with the highest ratings and the financial strength of the Orient Group based in Dubai. Over a short period of time, the company has achieved an impressive portfolio of clients and caters to the diverse insurance needs of some of the biggest manufacturing and trading groups in Sri Lanka. The strategic partnership with AMW Group and AMW Capital Leasing & Finance PLC, two fully owned subsidiaries of the Al-Futtaim Group, allows customers great ease in obtaining all their motor insurance solutions under one roof.

Orient Sri Lanka is committed to adding value to Sri Lankan customers by offering innovative products in Motor, Property, Engineering, Travel, Medical, Casualty, and Marine sectors. The passionate and experienced team of insurance professionals of Orient is focused on developing customised solutions to cater to the requirements of the local market and offer the best insurance products available in the market.

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