Allianz Insurance Lanka Limited (Allianz Lanka), one of Sri Lanka’s leading insurers, announced that, following the acquisition of Janashakthi General Insurance in February 2018, it has now successfully completed the amalgamation process between itself and Janashakthi General Insurance Limited.
The new entity will henceforth operate as Allianz Insurance Lanka Limited. The Company has relocated its head office to Dr. Danister de Silva Mawatha, Colombo – 09.
The company had acquired Janashakthi General Insurance Limited for a sum of Rs. 16.4 billion, which, at the time, represented one of the largest investments into Sri Lanka, demonstrating Allianz’s confidence in the market.The resulting expansion changed Allianz’s market presence in Sri Lanka and accelerated the company’s growth, giving it a market share of approximately 20%.
Over the years, Allianz Lanka has come to be known for its tailor-made insurance solutions for corporate clients and large scale projects in Sri Lanka
Commenting on the successful amalgamation, Surekha Alles, Managing Director, Allianz Insurance Lanka, said, “with the completion of this amalgamation process, Allianz Insurance Lanka stands on a strong foundation as it begins a new chapter in its journey. The newly formed business is perfectly positioned to drive continued innovation and excellence for our customers and to seize upon growth opportunities in the country.”
Allianz Insurance Lanka Limited, a fully owned subsidiary of Allianz SE, has been operating in Sri Lanka since 2005. The financial strength and solid capitalisation of the Allianz Group, coupled with Allianz Lanka’s local expertise and business know-how, has been the company’s powerful formula for success.
The Allianz Group is one of the world’s leading insurers and asset managers with more than 88 million retail and corporate customers. It is the world’s number 1 motor insurer with over 100 years of experience and the global leader in travel insurance, assistance services and personal services. It also ranks among the top 5 insurers in the world in life, health and industrial insurance.
It has been ranked as the most transparent major insurance company in the world and amongst the 10 most transparent multinational companies worldwide by Transparency International.
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