George Steuart Insurance Brokers Pvt Ltd.

What George Steuart Insurance Brokers Pvt Ltd. does

George Steuart Insurance Brokers (Pvt) Ltd. (GSIB) is an independent insurance broker domiciled in Sri Lanka and operating as a wholly owned subsidiary of the George Steuart Group. Founded in the 1850s, the company positions itself as one of the oldest insurance intermediaries in the region, with 30 employees across a Colombo head office and branch offices in Katunayake and Kandy. Its business is organized into three product pillars: Personal Lines (vehicle, home, medical, personal accident, life, and travel insurance for individuals), Corporate Lines (portfolio management, risk reviews, placements, advisory, and claims handling for large corporate clients), and Reinsurance (treaty, facultative, and retrocessional solutions across property, life, liability, cyber, aviation, marine, energy, and specialty risks), supported by value-added services including 24/7 helplines and fast-tracked claims settlement.

GSIB generates revenue exclusively through commissions paid by insurance carriers on business placed, with no direct fees charged to clients. Its go-to-market is broker-led and relationship-driven, leveraging access to all registered insurers in Sri Lanka and a network of international reinsurance partners to deliver globally benchmarked terms. The technology stack is described as a 'sophisticated state-of-the-art IT system,' with no further technical detail disclosed; customer-facing digital channels include an online payment portal and quote/contact forms on gsinsurance.lk. The company is licensed by the Insurance Regulatory Commission of Sri Lanka (IRCSL) and is a member of the Sri Lanka Insurance Brokers Association (SLIBA). No financial performance metrics, headcount growth, or revenue figures are disclosed in available source material.

Name

George Steuart Insurance Brokers Pvt Ltd.

Legal name

George Steuart Insurance Brokers (Pvt) Ltd.

Website

https://gsinsurance.lk

Company type

Private

Founded year

1850

Operating status

Operating

Headcount range

11–50 employees

Short description

George Steuart Insurance Brokers (Pvt) Ltd. is an independent Sri Lankan insurance broker, founded in the 1850s, offering personal, corporate, and reinsurance brokerage services through three offices under a commission-based model.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

akta.pro secondary industries

Retail (Personal Lines) Insurance Brokerage (FSAEADAA), Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ), Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD)

Keywords

• Insurance brokerage
• Corporate risk management
• Reinsurance broking
• Personal lines insurance
• Insurance intermediary

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commission: Commission-based revenue model where insurance companies pay GSIB fees based on business placed with them. Services are provided at no cost to clients.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

George Steuart Insurance Brokers (GSIB) is an independent insurance intermediary operating in Sri Lanka since the 1850s. The company brokers insurance and reinsurance placements across three pillars: Personal Lines (vehicle, home, medical, personal accident, life, travel), Corporate Lines (portfolio management, risk reviews, contract placements, claims management, advisory), and Reinsurance Services (treaty, facultative, and retrocessional solutions across property, life, liability, cyber, aviation, marine, energy, and specialty risks). Revenue is generated through commissions paid by insurance companies based on business placed; services are provided at no direct cost to clients.

Product overview

George Steuart Insurance Brokers (GSIB) operates as an independent insurance broker offering a unified platform of insurance products and services for both individuals and corporate clients in Sri Lanka. The product portfolio is organized into three main pillars: Personal Lines (covering Vehicle, Home, Medical, Personal Accident, Life, and Travel insurance), Corporate Lines (providing insurance portfolio management, risk reviews, placements, innovations, claims handling, and advisory services), and Reinsurance Services (offering treaty, facultative, and retrocessional solutions across multiple risk sectors). Value-added services including 24/7 helplines, dedicated service teams, and fast-tracked claims settlement complement the core insurance offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Vehicle Insurance

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

Five partnerships are on record, tiered core.

• GS Group (George Steuart Group)coreStrategic or Co-development PartnerParent company and group entity. George Steuart Insurance Brokers is a wholly owned subsidiary of the George Steuart Group. The company website links to georgesteuart.lk for the parent organization.
• Insurance Regulatory Commission of Sri Lanka (IRCSL)coreOthersRegulatory body that licenses GSIB to provide reinsurance and risk management services. GSIB is registered to operate in Sri Lanka by IRCSL.
• Sri Lanka Insurance Brokers Association (SLIBA)coreOthersIndustry association membership body. GSIB is a member of SLIBA.
• Global Reinsurance Partners NetworkcoreStrategic or Co-development PartnerGSIB connects Sri Lanka to global reinsurance markets through strong relationships with leading international reinsurers and a trusted global network of strategic partners. Provides reinsurance capacity, expertise, and insight for treaty, facultative, and retrocessional solutions across property, life, liability, cyber, aviation, marine, energy, and specialty risks.
• Global Insurance Partners (All Registered Insurers)coreChannel Partner/ Reseller/ DistributorGSIB has access to all underwriters in Sri Lanka and many overseas through its global network. The company represents all underwriters in Sri Lanka and many overseas, ensuring clients receive competitive, globally-benchmarked terms within a framework of security and professionalism.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Arthur J. Gallagher & Co. Large global insurance brokerage and risk management services firm. Overlaps with GSIB in commercial and specialty lines intermediation, and competes for multinational corporate accounts operating in Sri Lanka.
• Willis Towers Watson (WTW): Global advisory and broking firm with insurance brokerage and reinsurance capabilities. Targets the same large-corporate and reinsurance segments as GSIB but with multinational reach and broader risk-advisory offerings.
• Howden Group Holdings: International insurance broking group with growing Asia Pacific footprint. Comparable as a broker arranging commercial and specialty coverage for corporate clients, though with much wider geographic distribution than GSIB.
• Aon plc: Global insurance and reinsurance broker serving corporate clients worldwide. Comparable in offering corporate risk transfer and reinsurance intermediation, with substantially deeper international reinsurance market access than GSIB.
• Lockton Companies: Largest privately held global insurance broker, focused on commercial and specialty risks. Comparable to GSIB's corporate broking model but with significantly greater scale, geographic spread, and specialty expertise.
• Marsh (Marsh & McLennan): Global insurance broker and risk advisor with presence across Asia Pacific. Competes with GSIB for large corporate and reinsurance placements but operates at vastly greater scale and with a much broader service portfolio.

Others

• Ceylinco Insurance PLC: Major Sri Lankan insurance carrier across general and life lines. Operates as a principal in the local market that GSIB places business with, but also sells through its own agency channel, making it an adjacent rather than direct peer.
• Sri Lanka Insurance PLC: One of the largest state-linked insurance carriers in Sri Lanka. Adjacent to GSIB as a carrier partner and a competitor for direct policy sales, though structurally distinct as an underwriter rather than a broker.
• HNB Assurance PLC: Listed Sri Lankan insurer providing life and general insurance. Functions as a carrier in GSIB's placement universe and an adjacent channel competitor through its tied bancassurance network with HNB.
• Allianz Insurance Lanka Limited: Sri Lankan insurer and GSIB carrier partner. Not a direct competitor; rather a principal whose policies GSIB places, but adjacent given its role in the same local insurance distribution value chain.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/gsinsurancebrokers

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 George Steuart Insurance Brokers Pvt Ltd.