Q: How has Allianz Lanka evolved to be one of the fastest growing insurance service providers in Sri Lanka?

A: Allianz Lanka, a wholly owned subsidiary of Allianz SE Germany, initiated operations in 2005 through a greenfield approach. Employing a strong organic growth strategy, the company established a solid foundation in Sri Lanka.

In 2018, a substantial investment by the group led to the acquisition of a leading insurance company, propelling Allianz Lanka to a position among the top three insurers in the country.

Ranga Dias
Chief Distribution Officer

Q: As a German brand operating in Sri Lanka, what is your assessment of the country’s economic landscape and its impact on your sector?

A: The demand for insurance has risen since COVID-19 and due to natural catastrophe risks. Despite a challenging economic environment, the insurance sector recorded a subdued overall gross written premium (GWP) growth of 10.5 percent in 2022, resulting in increased profitability.

In 2023 however, the general insurance sector was negatively affected by a declining GDP, import restrictions, reduced disposable income and broader socioeconomic challenges.

Q: Could you share your organisation’s brand philosophy?

A: Allianz aligns its brand philosophy with global values of resilience, preparation and positive impact, positioning itself as a trusted partner dedicated to securing lives, shaping a better future and providing high quality solutions in Sri Lanka.

Our global purpose – ‘we secure your future’ – is endorsed with a promise of ‘confidence in tomorrow.’ Our expertise, coupled with the passion of our employees, helps customers stay prepared for life’s surprises. As a globally trusted insurer, we act as a steadfast companion, supporting customers in tough times with passion and persistence.

Actively engaging in global initiatives and local activations, we address pressing issues such as equality, safety, sustainability and numerous CSR projects, passionately showcasing our commitment to making a tangible impact.

Q: How has Allianz adapted to the local market?

A: As a leading insurance brand with a global presence for over 133 years in more than 70 countries, Allianz has the adaptability and experience to adapt to any market.

Allianz Lanka has tailored its diverse products and services to meet local customer needs. From basic retail products to complex risks, we provide support with technical and service excellence, backed by our reinsurance arm Allianz Re.

Q: In what way is the renowned German emphasis on quality and excellence reflected in your portfolio?

A: Due to operating in a financially volatile environment amid credit rating downgrades in Sri Lanka, some reinsurers have withdrawn or are hesitant to offer terms.

Despite this, Allianz remains strong, increasing its capacity for Sri Lanka with backing from Allianz SE, which maintains robust credit ratings – ‘AA’ from S&P, ‘Aa2’ from Moody’s and ‘A+’ from AM Best. This gives our customers peace of mind to secure their lives and assets at any given time.

Q: How does your organisation embody the professionalism, work ethic and reliability synonymous with German-origin entities?

A: We adhere to our global renewal agenda with four pillars: technical excellence, customer centricity, digital by default and inclusive meritocracy. This propels continuous improvement in our standards and fosters customer trust.

Q: Could you shed light on how Allianz capitalises on technological advancements?

A: Technological advancement is crucial to become the top insurer in Sri Lanka. We’ve heavily invested in developing our digital platforms through global exposure and R&D, providing our customers and partners with seamless end-to-end service.

Q: What are your organisation’s plans going forward?

A: Allianz views the Asia-Pacific region as the growth engine. As the economy stabilises and the insurance market evolves, Allianz remains open to investment and expansion in Sri Lanka.

Telephone: 2303300 | Email: info@allianz.lk | Website: www.allianz.lk