Sanasa General Insurance Co.

What Sanasa General Insurance Co. does

Sanasa General Insurance Co. is a Sri Lankan general insurance carrier headquartered in Colombo that underwrites motor, health, fire, travel, engineering, liability, agricultural, and other commercial and personal lines for individuals, families, rural communities, SMEs, and large corporates. The company is a wholly-owned subsidiary of Sanasa Life Insurance Company PLC, having been segregated from the former combined insurer in 2019, and traces its institutional roots to Dr. P.A. Kiriwandeniya's cooperative movement founded in 1989.

The company operates a hybrid distribution model anchored by 80+ branches and a uniquely extensive community network of 8,000+ Sanasa cooperative societies reaching over one million members, supplemented by direct agents, an online self-serve portal, and a WhatsApp-based customer service channel. Its product portfolio spans comprehensive motor insurance (motorcycles, cars, three-wheelers, dual-purpose vehicles, motor coaches, lorries, land vehicles), fire and burglary insurance, personal accident and family protection products (including women-focused Uththamavee and Child Protection), travel insurance with tiered Bronze-to-Diamond plans, and business lines such as corporate medical insurance (up to LKR 1M per person per year), engineering insurance, hotelier insurance, title insurance, and Workmen's Compensation and Public Liability. SGIC has been a pioneer in Sri Lankan microinsurance and agricultural insurance, offering Weather Index Insurance and indemnity crop products to farmers.

On the technology side, SGIC migrated its core operations to Oracle Cloud Infrastructure in 2025 through a strategic partnership with DMS Software Technologies, and operates farmer-focused digital platforms for crop, claims, and market price management. Revenue is generated through recurring insurance premiums on a subscription-style annualized model with no publicly listed pricing, supplemented by cross-segment expansion via the cooperative society distribution network.

Name

Sanasa General Insurance Co.

Legal name

Sanasa General Insurance Company Ltd.

Website

https://sgic.lk

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Sanasa General Insurance is a Sri Lankan general insurer and wholly-owned subsidiary of Sanasa Life Insurance Company PLC, underwriting motor, fire, health, travel, engineering, liability, agricultural, and microinsurance products for individuals, SMEs, corporates, and rural cooperative members across 80+ branches and 8,000+ Sanasa societies.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Insurance Carriers and Related Activities (524), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

General Liability Insurance (FSAJAMAE)

akta.pro secondary industries

Large Commercial Package (National Accounts) (FSAJAFAC), Standalone Umbrella Liability (FSAJANAE)

Keywords

• General insurance
• Motor insurance
• Microinsurance
• Agricultural insurance
• Commercial insurance

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. General Insurance Premiums: SGIC underwrites all classes of General Insurance including motor, health, fire, travel, engineering, liability, and agricultural insurance. Revenue is generated through insurance premiums collected from policyholders, with both annual and short-term coverage options.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Sanasa General Insurance Co. underwrites general insurance products across all major classes including motor, fire, health, travel, engineering, liability, and agricultural insurance. The company serves both individuals/families and businesses through a portfolio of standalone insurance policies distributed via a 80+ branch network and 8,000+ Sanasa cooperative societies across Sri Lanka.

Product overview

Sanasa General Insurance Co. offers a comprehensive portfolio of general insurance products structured across two main categories: personal/family insurance and business/corporate insurance. The personal insurance portfolio includes Motor Insurance (with sub-products for motorcycles, cars, three-wheelers, dual-purpose vehicles, motor coaches, lorries, and land vehicles), Fire Insurance (including Sureki Piyasa for dwelling houses), Burglary Insurance, Solar Panel Insurance, Personal Accident Insurance, Travel Insurance (SGIC Travel Care with Bronze to Diamond plans), Uththamavee Insurance (women-focused), and Child Protection Insurance. The business insurance portfolio includes Motor Insurance variants, Fire Insurance, Solar Panel Insurance, Hotelier Insurance, Medical Insurance (Corporate Health with up to 1M coverage), Engineering Insurance (covering electronic equipment, contractor's all risk, erection all risk, machinery breakdown, contractor's plant and machinery, and boiler), Liability Insurance (Workmen's Compensation and Public Liability), and Title Insurance. The company operates on Oracle Cloud Infrastructure following a recent migration, with an online payment portal and claims management system supporting their digital transformation.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Comprehensive and third-party coverage for motorcycles, cars, three-wheelers, dual-purpose vehicles, motor coaches, lorries, and land vehicles with hassle-free claims, offered to both individuals and businesses.
• Fire Insurance Financial protection for business premises and private dwelling houses against losses or damages caused by fire, lightning, malicious damage, and natural perils, including the Sureki Piyasa home variant.
• Burglary Insurance Protects premises and property against financial loss or damage caused by forcible and violent entry or exit by burglary or attempted theft, for both residential and commercial customers.
• Solar Panel Insurance Financial protection for solar panels against losses or damages caused by fire, lightning, or related perils, for residential and business owners.
• Personal Accident Insurance Compensation for death or bodily injury caused by violent, accidental, external, and visible injuries including accidental death, permanent total/partial disability, and temporary disabilities, for individuals and families.
• Travel Insurance SGIC Travel Care offering comprehensive coverage for medical emergencies, personal accidents, trip cancellations, and lost luggage with worldwide coverage options (Bronze, Silver, Gold, Platinum, Diamond plans), for individual travelers and corporate travel programs.
• Uththamavee Insurance Protection insurance tailored for women providing health and financial security including permanent disability coverage, critical illness cover, hospitalization benefits, and scholarship awards.
• Child Protection Insurance Financial protection and support for child's education, health, and well-being including daily hospital allowances, scholarship awards, and coverage for parent's accidental death or disability.
• Hotelier Insurance Comprehensive protection for hotel properties and assets against fire, lightning, and liability risks including coverage for natural disasters, burglary, and accidental damage.
• Medical Insurance Corporate health insurance with customizable plans covering hospitalization, surgeries, specialized treatments, with coverage up to 1 Million per person per year including 24 critical illnesses.
• Engineering Insurance Collection of insurance products protecting contractors, project owners, and businesses including electronic equipment, contractor's all risk, erection all risk, machinery breakdown, contractor's plant and machinery, and boiler insurance.
• Liability Insurance Protection against legal expenses, compensation claims, and financial losses including Workmen's Compensation and Public Liability coverage, for businesses and employers.
• Title Insurance Single premium solution protecting landowners or lenders against financial loss arising from defects in property ownership (title), defending ownership rights and covering legal expenses.

Quantifiable outcome

• 80+ branches island-wide providing accessibility
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

Three partnerships are on record, tiered major and core.

• GMOA (Government Medical Officers Association)majorStrategic or Co-development Partner · 10 August 2025GMOA and Sanasa Insurance have renewed their strategic partnership for the third consecutive year, providing tailored insurance solutions for medical professionals and healthcare workers.
• DMS Software TechnologiescoreTechnology or Integration · 6 August 2025DMS Software Technologies serves as a strategic partner for SGIC's deployment on Oracle Cloud Infrastructure. This partnership enables the company's digital transformation initiatives, providing enterprise-grade cloud operations for their insurance systems.
• OraclecoreTechnology or Integration · 6 August 2025Oracle Cloud Infrastructure powers SGIC's core insurance operations, enabling scalable and reliable digital services for the company's insurance platform.

Scale indicators6 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Union Assurance PLC: Sri Lankan composite insurer (life + general) with nationwide branches and digital channels; competes directly with SGIC in motor, fire and SME commercial lines.
• HNB Assurance PLC: Sri Lankan insurer with both life and general insurance products, distributed via the HNB banking network; competes with SGIC in personal accident, motor and SME segments.
• Ceylinco Insurance PLC: One of Sri Lanka's largest composite insurers, offering motor, fire, marine and other general insurance lines with nationwide branch and broker distribution — directly comparable multi-line general insurance competitor in the same market.
• Janashakthi Insurance PLC: Sri Lankan composite insurer providing motor, fire, marine and other general insurance through branch and digital channels; directly comparable mid-tier competitor in the same local market.

Emerging players

• MicroEnsure (now MicroInsurance Centre / Baobab Insurance): Specialist in microinsurance design and distribution for underserved customers in emerging markets; thematically comparable to SGIC's microinsurance and Weather Index / Crop Insurance focus on rural Sri Lankan smallholders.
• Co-operative Insurance Company (Kenya) Ltd: Cooperative-movement-rooted insurer in Kenya serving rural and underserved populations — comparable business model leveraging cooperative/microfinance channels for community-based insurance distribution.

Broad incumbents

• Tata AIG General Insurance: Large Indian general insurer offering motor, health, liability and commercial lines; comparable multi-line non-life carrier competing in South Asia with a focus on motor and SME commercial segments.
• Sri Lanka Insurance Corporation (SLIC): State-owned composite insurer and market leader in Sri Lanka offering motor, fire, life and general insurance; broader portfolio and balance sheet than SGIC, but directly competes for the same general insurance customers.
• AIA Insurance Lanka PLC: Sri Lankan subsidiary of global insurer AIA offering life and general insurance products; broader multinational backing and brand recognition makes it a strong incumbent competing for similar customers.

Regional players

• NIC Asia Insurance: Nepalese composite insurer offering life and non-life products through banking and agent channels — comparable mid-tier South Asian insurer in a similar emerging-market geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/sanasageneral
• LinkedInlinkedin.com/company/sanasa-general-insurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 Sanasa General Insurance Co.