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Welcome To Allianz Lanka

Allianz Insurance Lanka Ltd. and Allianz Life Insurance Lanka Ltd., known together as Allianz Lanka, are fully- owned subsidiaries of Allianz SE, a world leader in integrated financial services, headquartered in Munich, Germany.

Allianz Insurance Lanka Limited received registration as an insurer from the Insurance Board of Sri Lanka (IBSL) in September 2004, to practice Non-Life insurance business. Underwriting operations commenced in January 2005. Allianz Life Insurance Lanka Limited received its license from IBSL in July 2008 to set up Life insurance businesses in Sri Lanka.

At Allianz Lanka, we follow our parent company in our clear focus on profitability, consistent underwriting policy, and business strategies. The global strength and solid capitalisation of the Allianz Group, coupled with local expertise and business know-how, have been Allianz Lanka’s powerful formula for success. This has given Allianz Lanka the edge in providing the best and most innovative insurance solutions to our customers.

Since inception, we have made giant strides in the Sri Lanka insurance industry, with our topline growing by more than thirty eight times during the past ten years. Allianz Life Insurance Lanka Ltd. Too, has grown by more than 200 times in just seven years of operations, to become a leading Life insurance company in Sri Lanka. The Company has a network of 55 branches in all provinces of Sri Lanka.

The many ‘firsts’ achieved by Allianz Lanka have re-defined industry benchmarks. Among these, we are:

  • the first Non Life insurance company to achieve Rs. 1 billion in premium income within the first five years of operations
  • the first Non Life insurance company to record an underwriting profit in the second year of operations
  • the first Life insurance company to make Rs. 100 million gross written premium within the first year of operations
  • the first insurer to comply with the statutory requirement of having two separate legal entities for Life and Non Life business

Insuring high- value infrastructure projects and buildings around the island

We insure several major infrastructure projects and buildings in Sri Lanka, oil exploration in the Mannar basin, the Arugam Bay bridge, Sri Lanka’s first wind power project, the construction of certain power plants, more than a few infrastructure road projects including the Southern Highway, several water treatment plants and pipe laying projects, as well as the construction of many high- rise buildings such as Altair, JKH Residential Properties, and numerous resort constructions in the Maldives.


THE ALLIANZ GROUP

Regions and countries of operation

Our parent, the Allianz Group operates as an international insurer on five continents. It has deep roots in Western, Northern and Southern Europe, Central and Eastern Europe as well as the Asia Pacific. It also has a presence in several areas of America and Africa.

Our network of Allianz offices in more than 70 countries, not forgetting the selected partnerships in other locations, enables us to service over 85 million customers in more than 160 countries around the world.

You can get more information on our activities in the Asia Pacific region and in Central and Eastern Europe by visiting
http://www.agcs.allianz.com/


Global insurance operations

Globally, Allianz is the leader in Property and Casualty insurance, and ranks among the top five insurers worldwide in Life/Health insurance. Our extensive portfolio of Property, Casualty and Life/Health products are designed with both private as well as corporate customers in mind.


Insuring high- value infrastructure projects and buildings

Allianz provides insurance to no less than half the Fortune 500 companies, and some of the world’s largest infrastructure projects and architecturally sophisticated buildings. This includes the Hong Kong Airport and the Channel Tunnel between the UK and France.

In Asia alone, Allianz insures Malaysia’s Petronas twin towers, one of the world’s tallest buildings, the MRT (Mass Rapid Transport) in Singapore and Bangkok, the Hong Kong, Bangkok and Kuala Lumpur international airports, Palm Island, the world’s largest artificial island in Dubai, as well as numerous atolls in the Maldives, including Kurumba, Baros and Full Moon.


Consolidating our leadership position

Allianz SE is among the world’s Top Ten insurance companies in terms of revenue, world leader in credit insurance, and Europe’s largest insurer by way of market capitalization which as of May 2014, stood at 67.9 bn euros for the first half in 2015.

The Group has one of the world’s strongest solvency ratios – 181% in 2014 – and boasts one of the world’s best credit ratings among international insurers. Allianz SE is also among the world’s largest asset managers, with third-party assets under management of over euros 1.313 billion as at end- 2014. Allianz achieved an operating profit of 10.4 billion euros, a growth of 3.3%, and total revenues of approximately $ 122.3 billion euros – a growth of 10.4% in 2014.

Allianz maintains stability and dominance in the market with excellent financial strength ratings given by premier global rating agencies. In 2014, the Group’s strong ratings were re-confirmed by ratings agencies Standard & Poor’s AA – Stable outlook, Moody’s Aa3 – Stable outlook, A.M. Best A+ – Stable outlook.

Allianz SE has been named the World’s Most Ethical Insurer by the Ethisphere institute, the thinktank that recognises companies that promote internal ethical business standards and practices and shape future industry standards by introducing best practices. Allianz created history in 2006 by becoming the first company on the Dow Jones Euro Stoxx 50 index to change its corporate form to a new European legal form, Societas Europaea (SE).


Leaders in Sustainability

As a long-term risk manager and investor, sustainability for Allianz is an integral part of business. The excellence of our corporate social sustainability performance has been recognised since 2000 by RobecoSAM (link), which analyses a company’s performance according to specific categories, with top ranking positions over the past years. This year too, Allianz was named one of the sustainability leaders in the insurance sector, earning special recognition in the areas of Financial Inclusion, Risk Detection, Principles for Sustainable Insurance, Brand Management and Stakeholder Engagement. In the assessment of the 2014 Dow Jones Sustainability Index, RobecoSAM awarded Allianz with the Silver Class Sustainability Award 2015.


Understanding Market Risk

Our resilient business model, solid capital base and sustainable profitability, position us to manage and understand market risks and make the most of the opportunities. These are the building blocks to our success and the strength of our community.

Allianz has a strong risk culture, which means managing our business to deal with today’s specific issues as well as the risks we will be exposed to over the next decade or more. We are conscious of the types of business we underwrite, and in insurance, we think long-term because we are underwriting long-term risks.


A PREMIUM BRAND

The Allianz Brand

An exceptional package of global and local corporate social responsibility initiatives buy into the Allianz brand experience. Allianz ranked 78 among the World’s Most Valuable Brands in the Forbes Lists in 2014, and occupied 27th position in the Global 2000 leading public companies. At the annual “Best Global Brands” ranking for 2014, brand consultancy firm Interbrand set the Allianz brand value at US$7.7 billion, a 15% increase from 2013. This places Allianz in 55th position among the world’s top 100 brands, up eight spots from last year’s ranking, and puts the Allianz brand on par with other top global brands such as Google, Samsung and Nike.


HISTORICAL OVERVIEW CELEBRATING 125 YEARS

Allianz SE celebrates 125 years in business this year. The conglomerate began business In Germany in 1890 as a transport and accident insurer, during the aftermath of the Industrial Revolution and the onset of the Technology Revolution. At this time, the winds of economic, political and social change sweeping through Europe, brought in their wake rapid economic growth and modernisation, from which Germany emerged as the new leader of European industry. The nation built and expanded its trading networks and roadways, and became an important rail hub for Europe for long distance transportation of goods. This brought on an increased need for managing transportation risks, an opportunity which director of Munich Reinsurance Company Carl Thieme and Munich banker Wilhelm Finck were quick to take advantage of. They founded Allianz in the summer of 1889, and the Company was given the license to commence commercial trading on February 5, 1890.

Many changes that have had a tremendous impact on the company’s growth and progress have taken place since, changes reflected in the societal frameworks of countries as well as in the needs of customers.

In step with the times

Allianz has grown today into a multinational financial services company and a leader in the industry, with an extensive portfolio of insurance and asset management products and services.

The success of Allianz’s growth and development down the ages and our recognition today as a globally active financial
services provider, is due to our responsiveness, power to innovate and far-reaching ability to reconcile economic development with the challenges that accompany growth and prosperity.

Allianz believes in involving ourselves with the issues of the times. With rapidly advancing economies came the concerns of the environment impact of this growth. Megatrends such as demographic development and climate change and their effects that shape the world today were addressed by the Group. We have searched for long-term and sustainable solutions that can only be developed with concerned partners.


Reducing our environmental impact

Adverse weather impacts like temperature, precipitation, wind speed and sun hours can result in financial losses across different industries due to lowered sales or production.

Allianz was the world’s first corporate to establish a ESG Board in 2012 – a committee at board level tasked with ensuring that ecological and social issues are considered in decisions made throughout the organisation.

The Company has made many innovative contributions towards climate change and reducing greenhouse gas emissions by investing in renewable energies, ensuring climate neutrality in business operations, and designing green products. More than 150 green solutions are designed to cover all business segments and help protect the environment. Today, Allianz owns 48 wind and 7 solar parks which produce enough energy to supply the requirements of a city the size of Milan, Italy.

Allianz Risk Transfer Weather Solutions (ART) proactively tackles the challenges of climate change and provides creative and tailor-made weather insurance solutions.

Many governments started to adapt their energy strategies in favour of renewable energy. Allianz followed suit and in 2005, Allianz Capital Partners added renewable energy investments to their portfolio.

An increase in the frequency and severity of data breaches and IT glitches that pose threats to businesses prompted the launch of Allianz Cyber Protect, which enables companies to protect themselves against potential financial and reputational losses.

Whether it is an expedition to the North Pole or a flight through space, Allianz is at your side when you explore new worlds. In 2014, Allianz SpaceCo insured 21 space launches which covered eight different types of launch vehicles from around the world.


OUR PEOPLE

Valuing our greatest asset

Empowering our people by developing them personally and professionally is just as important to us as providing a premier service to our customers. We believe a happy employee is essential to the longevity of our business. Our human resources strategy and initiatives focus on being the employer of choice for the best talents around the world. Globally, over 50 nationalities are represented in executive positions around the world and 34% management positions are held by women. Our aim of being a great company to work for was realized in our high ranking among the world’s 100 Best Companies to Work For by the Fortune 2013 magazine.

Allianz has more than 147,000 employees worldwide today. We engage our people because we understand that this leads to a strong leadership culture and better business performance. The annual Allianz Engagement Survey (AES) has been designed to promote a high-performance culture and measures how responsive the Company is to employees’ ideas and opinions. Allianz scores in this index improve substantially every year.


WHAT DOES ALLIANZ LANKA HAVE TO OFFER YOU?

In a nutshell,

  • The strength of our re-insurer, Allianz S.E., which is well above the market average and has a credit rating of “AA” assessed by premier rating agencies
  • Professional insurance with top range business know-how and underwriting expertise in all lines of insurance
  • New and improved international products
  • Responsive customer service before, during and after purchase
  • Risk management services of global standard
  • An internationally trained and experienced core team with local knowledge
  • Improved front-office and back- office processes
  • State-of-the-art technology designed to enhance your service experience
  • A long-term commitment to the market and our customers

Our Vision

  • To be the first choice insurer for customers
  • To be the preferred employer for staff in the insurance industry
  • To be the number one insurer for creating shareholder value

Our Mission

As a responsible, customer- focused market leader, we will strive to understand the insurance needs of our consumers and translate this into affordable products that deliver value for money.


Guiding Principle

The customer is our most valuable asset and everything we do is aimed at either winning a customer or retaining a customer.


OUR CUSTOMERS

Business Focus

At Allianz, our guiding principles are customer service and client satisfaction. All our efforts are directed towards understanding the culture, social environment and individual insurance requirements of our customers to enable us to cater to your wide and varied needs and to position ourselves as a leading corporate and retail insurance company.

Loyalty is the key to our continuity, and word of mouth is our strongest media of expression. Serving our customers from the heart by putting them at the heart of everything we do and working to continually improve the quality of service, we build relationships based on trust.


OUR PRODUCTS

Meeting our customers’ needs

Allianz offers a widely diversified portfolio of Life and Non Life products under strong and well-known brands. Allianz anticipates future requirements and designs insurance solutions that will meet our customers’ needs. We provide a full range of protection, saving and investment products that cover a complete customer life cycle, from birth to retirement, designed to help people move on and up in life and business.

We strive to be your trusted partner every step of the way. By incorporating sustainable and responsible business practices into our products and services, we not only aim to meet the needs of our customers into the future, but also support our corporate strategy of achieving profitable and sustainable growth.


Allianz cares about what matters to you

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