Arpico Insurance

What Arpico Insurance does

Arpico Insurance PLC is a Sri Lankan life insurance company incorporated in 2011 and headquartered in the Colombo metropolitan area. It operates as a subsidiary of Richard Pieris & Company PLC, a diversified local conglomerate with approximately 90 years of operating history, roughly 50 subsidiaries, and 30,000 employees. Arpico Insurance is regulated by the Insurance Regulatory Commission of Sri Lanka and is listed on the Colombo Stock Exchange.

The company offers a portfolio of ten life, health, retirement, and investment products, including the Arpico Endowment Plan, Term Assurance Plan, Education Plan, Group Assurance Plan, Loan Protection Plan, Relief Plan, Retirement Plan, HealthCare, Investment Bond, and Trust Plan. Distribution is conducted through 50+ branches across Sri Lanka, a direct agent sales force, and self-serve digital channels including an online payment portal. The company holds a reinsurance partnership with Munich Re and supports a claims process documented in its operational workflow.

The business model is built on recurring premium income from individual and corporate policyholders, with cross-selling across the Richard Pieris ecosystem providing ancillary customer acquisition. The company has positioned itself as a growth-oriented mid-tier domestic insurer, having been recognized by Global Banking & Finance Review and Global Brands Magazine for growth, trust, and innovation between 2017 and 2020. Leadership is headed by CEO Jayalal Hewawasam and Chairman Ramal Jasinghe, both with 25+ years of insurance experience from prior roles at Allianz Life Insurance Sri Lanka and Asian Alliance Insurance respectively.

Name

Arpico Insurance

Legal name

Arpico Insurance PLC

Website

https://arpicoinsurance.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Arpico Insurance PLC is a Sri Lankan life insurer offering ten endowment, term, retirement, health, and investment products to individual and corporate policyholders through 50+ branches, agents, and digital channels, operating as a subsidiary of Richard Pieris & Company PLC.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Annuities & Investment-Linked Insurance Solutions (Retail) (FSAAAAAM)

akta.pro secondary industries

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH), Group Universal Life (GUL) (FSAIADAC)

Keywords

• Life insurance products
• Endowment savings plans
• Retirement income plans
• Health insurance coverage
• Group assurance schemes

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: Arpico Insurance generates revenue through collection of insurance premiums from various life insurance products including Endowment, Term Assurance, Education Plans, Group Assurance, Loan Protection, Retirement Plans, HealthCare, Investment Bond, and Trust Plan products.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Arpico Insurance PLC sells long-term life insurance and savings products to individual consumers and employer groups in Sri Lanka. Its portfolio includes endowment, term assurance, education, retirement, health, investment bond, trust, loan protection, relief, and group assurance plans, marketed as "Insurance for The Living" with living-benefit riders and an inflation-adjusted sum assured that grows 2.5% annually. Policies are distributed through a nationwide branch network, insurance agents, and online premium payment channels.

Product overview

Arpico Insurance is a Sri Lankan life insurance company offering a comprehensive portfolio of individual and group insurance products. The product lineup centers around core life insurance offerings including the Endowment Plan, Term Assurance Plan, Education Plan, Retirement Plan, and Group Assurance Plan, supplemented by specialized protection products such as the Loan Protection Plan and Relief Plan. The company also provides health coverage through Arpico HealthCare and investment products including the Investment Bond and Trust Plan. These products are designed to serve various life stages and needs—from school fees planning and mortgage protection to retirement income and healthcare coverage—with optional riders and living benefits that can be added to base plans.

Differentiator

Problem solved

Functional benefit

Products and services

• Arpico Endowment Plan Life insurance endowment plan offering living and death benefits where the sum assured increases by 2.5% annually to accommodate inflation while the original premium remains fixed; can serve as a flexible fund for emergencies, education, or retirement. Targeted at individual policyholders seeking combined protection and savings.
• Arpico Term Assurance Plan Cost-effective term assurance plan providing sum assured payment upon death during the policy term, with an optional Super Health Care Benefit rider. Targeted at individual consumers seeking affordable pure life cover.
• Arpico Education Plan School fees plan designed to provide monthly financial support for children's education costs in case of unforeseen circumstances affecting the policyholder. Targeted at parents seeking dedicated education funding for their children.
• Arpico Group Assurance Plan Group insurance plan covering employees of common employers, members of societies, or professionals in common groups, with optional disability benefits. Targeted at employers and organizations providing employee benefits.
• Arpico Loan Protection Plan Mortgage protection plan ensuring loan balances are paid to financial institutions upon death, freeing policyholder assets like houses and buildings from mortgage obligations. Targeted at individual borrowers with outstanding loans.
• Arpico Relief Plan Protection plan meeting the needs of policyholders and their loved ones without conventional recurring premium payments, providing benefits throughout the original policy term. Targeted at individuals seeking premium-relief life cover.
• Arpico Retirement Plan Retirement plan providing monthly pension for fixed periods of 10, 15, or 20 years, with death benefits to nominees and premium waiver upon death or total permanent disability. Targeted at individuals planning retirement income.
• Arpico HealthCare Comprehensive health insurance policy with cashless hospitalization, critical illness cover for 40 illnesses, cancer cover, surgery cover, telemedicine, pharmacy benefits, and loyalty rewards. Targeted at individuals and families seeking health coverage.
• Arpico Investment Bond Investment plan with guaranteed interest at maturity and combined life/death cover, offering natural and accidental death benefits based on age brackets. Targeted at individuals seeking investment-linked insurance.
• Arpico Trust Plan Single premium plan offering guaranteed maturity value exceeding 100% of premium with substantial life cover exceeding the maturity value, with optional additional term protection. Targeted at individuals seeking single-premium life cover with savings.
• Privilege Customer Insurance Scheme Customer insurance scheme offered as a privilege plan within Arpico Insurance's product portfolio, providing insurance benefits to qualifying customers. Targeted at Arpico Insurance's customer base.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Richard Pieris & Company PLCcoreOthersParent company and ultimate holding entity. Richard Pieris & Company PLC is one of the largest and most successful diversified business conglomerates in Sri Lanka with a history of almost 90 years, 50 subsidiary companies and 30,000 employees. Arpico Insurance PLC is a subsidiary of this conglomerate.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Market position

Strengths5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arpico Insurance