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Allianz
Life Insurance, a wholly owned subsidiary of global
insurance giant Allianz SE announced plans to make early
inroads in to the lucrative local life insurance market
in a bid to be placed among the top five insurance providers
in Sri Lanka.
Allianz received their license to operate life insurance
products on July 1 from the Insurance Board of Sri Lanka
and since their inception on the tenth of October this
year have sold 500 life policies.
Allianz Asia-Pacific, Middle East and North Africa Executive
Vice President, Heinz Dollberg explained the parent
company’s objectives at the press conference yesterday,
“We have always been in the top five ranks among
insurance companies whenever we operate in Asia and
Allianz Lanka has within three years obtained the fifth
rank despite heavy competition and an unexplored retail
market. We expect the same success from life.”
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