Leading Sri Lankan insurer Co-operative Insurance Company PLC (CICPLC) entered an insurance agreement with Bank of Ceylon (BOC), the country’s leading state-owned bank, on October 27, 2022, to maximise its service offerings to customers with banking requirements.
Through this agreement, customers looking for financial services now have the ability to benefit from insurance facilities from Co-operative Insurance PLC, for loans and leasing facilities obtained through Bank of Ceylon.
“Entering this agreement as the main insurer to provide insurance facilities to the customers of Bank of Ceylon, a financial institution that has provided reliable banking facilities to Sri Lankans for over 83 years, is a privilege and great accomplishment to us at Co-operative Insurance Company PLC,” noted CICPLC Honorary Chairman Susil Weerasekera.
There is no doubt that Sri Lankans will benefit from this corporate milestone, equipped with a great advantage in pursuing their banking and insurance needs with two trusted and reputable organisations.
CICPLC Managing Director Udaya Kumara added that “it gives us great joy knowing that Bank of Ceylon customers can now benefit from the lowest, unmatched insurance premiums in the island for their assets such as cars and houses, when they too are facing the challenges with the economic climate.”
The Bank of Ceylon is a leading state-owned financial institution with the largest branch network in the country’s banking industry. Co-operative Insurance PLC, having successfully identified the plight of the common man, has the third largest service network in the country’s insurance industry. The synergy between these two organisations truly unveils a victory for customers from both companies.
In 1999, Co-operative Insurance Company PLC entered Sri Lanka’s insurance industry, pioneering in making insurance services more accessible to the masses by expanding to rural communities, disrupting an industry which previously had a strong presence only in urban areas. Today, the company marks its highest growth rate in the local insurance industry within a short timeframe, and is still renowned as a leading Sri Lankan insurance company.