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 No. 675, Dr. Danister de Silva Mawatha (Baseline Road), 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%. With over 2,700 experienced team members working across a network of over 100 branches around the island, Allianz Lanka is now geared to offer greater value and convenience to consumers and businesses across Sri Lanka.
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. Leveraging its global expertise and insights into the local market, and geographical expansion of its branch network, it now seeks to serve individual consumers and Small and Medium Enterprises (SMEs) around the island as well. With an extensive portfolio of solutions suited to cover all the needs of individuals and businesses, the insurer is geared to provide insurance solutions to all Sri Lankans. It continues to pursue an innovation led growth strategy with a focus on digitalization to ensure that its solutions are aligned to changing market realities and evolving consumer preferences.