LOLC General Insurance

What LOLC General Insurance does

LOLC General Insurance PLC is a Sri Lanka-based general insurance provider operating through a 40+ branch national network and a digital platform. The company serves two primary customer segments — individual consumers (motor, fire, travel, miscellaneous, special products) and corporate/business clients (fire, liability, engineering, marine, and specialized covers) — and also offers a parallel portfolio of Shariah-compliant Takaful products across the same lines. Its product range spans motor car, commercial vehicle, motorcycle and three-wheeler insurance, home, travel (single and multi-trip), shop, pharmacy, salon, and solar installations, alongside cyber, D&O, marine cargo/hull, and engineering covers.

Revenue is generated through annual insurance premiums across these product lines, with pricing quoted per risk profile rather than published rate cards. Distribution combines physical branch sales, an online quote-request flow, approved partner garages for motor claims, and the LOLC Honours loyalty program integrating over 1,000 merchant partners (supermarkets, hotels, hospitals, restaurants, car washes). Notable technology components include the V Claim virtual claims settlement platform, which enables paperless, signature-less instant claim approvals with direct account credit for motor policyholders.

LOLC General Insurance is a subsidiary of LOLC Holdings PLC, Sri Lanka's largest diversified conglomerate, and is backed by A-rated global reinsurers providing underwriting capacity and financial strength. The company is licensed by the Insurance Regulatory Commission of Sri Lanka (IRCSL) and reported as the 4th largest general insurance provider in Sri Lanka by the Insurance Association of Sri Lanka (IASL) at the end of Q3 2025, supported by 323 employees and a broad multi-channel marketing footprint including social, SEO, branch-level direct sales, and earned media.

Name

LOLC General Insurance

Legal name

LOLC General Insurance PLC

Website

https://lolcgeneral.com

Company type

Private

Operating status

Operating

Headcount range

251–500 employees

Short description

LOLC General Insurance PLC is a Sri Lanka-based general insurance provider offering motor, fire, travel, marine, engineering, and liability coverage plus Shariah-compliant Takaful products to individuals and businesses through a 40+ branch network and digital channels.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

General Liability Insurance (FSAJAMAE)

akta.pro secondary industries

Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Premises/Operations Liability Umbrella / Excess (FSAJANAL), Excess Liability Insurance (FSAJANAC), Product Liability Umbrella / Excess (FSAJANAI)

Keywords

• General insurance products
• Motor insurance coverage
• Takaful insurance solutions
• Commercial insurance coverage
• Travel insurance plans

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices44 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: LOLC General Insurance generates revenue through insurance premiums from motor, fire, travel, miscellaneous, liability, engineering, and marine insurance products for both individual and corporate clients. The company offers both conventional insurance and Shariah-compliant Takaful products.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

LOLC General Insurance PLC provides general insurance products and Shariah-compliant Takaful solutions across Sri Lanka. The company serves individual consumers with motor, fire, miscellaneous, special, and travel insurance, and businesses with corporate fire, liability, engineering, marine, and specialized commercial covers. Distribution is delivered through a 40+ branch network, direct website quote requests, approved partner garages, and a 1,000+ merchant loyalty ecosystem.

Product overview

LOLC General Insurance PLC offers a comprehensive general insurance portfolio as one of Sri Lanka's leading insurance providers. The company provides three main product lines: Individual Solutions (Motor Insurance, Fire Insurance, Special Insurance Products, Miscellaneous Insurance, and Travel Insurance), Corporate Solutions (Fire Insurance, Liability Insurance, Engineering Insurance, Marine Insurance, and various specialized covers), and Takaful (Shariah-compliant alternatives covering Motor, Fire, Special, Miscellaneous, Travel, Liability, and Engineering insurance). Notable products include Motor Car Insurance, Commercial Vehicles Insurance, LOLC Shop Insurance, LOLC Business Insurance (My Solar, My Pharmacy, My Salon), and Travel Insurance (Single Trip and Multi Trip). The company also offers V Claim for instant virtual claims settlement and operates the LOLC Honours loyalty program with over 1,000 partner merchants. LOLC General Insurance is a subsidiary of LOLC Holdings PLC, backed by A-rated global reinsurers.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance (Individual) Comprehensive motor insurance solutions for vehicle owners in Sri Lanka, covering cars, commercial vehicles, motorcycles, and three-wheelers.
• Motor Car Insurance Coverage ensuring that bumps, scrapes or crunches to private cars keep any dents in routine or bank balance to a minimum.
• Commercial Vehicles Insurance Insurance coverage for vehicles used for commercial purposes, regardless of usage type.
• Fire Insurance (Individual) Financial protection for individuals against damage to property, buildings, and contents caused by fire, lightning, and explosions.
• Special Insurance Products (Individual) Specialised insurance solutions tailored to protect individuals and small businesses from everyday risks including shop, home, solar, pharmacy, and salon cover.
• LOLC Shop Insurance Packaged policy designed specifically for small and medium retail businesses.
• LOLC Business Insurance – My Solar Specialised protection for residences with solar energy installations.
• LOLC Home Insurance Home insurance coverage for property owners.
• LOLC Business Insurance – My Pharmacy Business insurance tailored for pharmacy operations.
• LOLC Business Insurance – My Salon Business insurance tailored for salon operations.
• Miscellaneous Insurance (Individual) Protection against personal accidents and burglary in everyday life.
• Personal Accident Insurance Coverage for personal accidents.
• Burglary Insurance Protection against burglary and theft.
• Travel Insurance (Individual) Flexible travel insurance solutions designed to protect individuals and families from unexpected events during domestic or international trips.
• Single Trip Travel Insurance Designed for individuals or families travelling abroad for a one-time journey, offering peace of mind throughout the trip.
• Multi Trip Travel Insurance Designed for frequent travellers who take multiple journeys throughout the year.
• Corporate Fire Insurance Comprehensive fire and property protection solutions designed to safeguard commercial assets, operations, and income streams.
• Corporate Liability Insurance Protects businesses and individuals from legal liabilities arising from third-party claims.
• Engineering Insurance Comprehensive protection against construction and engineering-related risks in Sri Lanka.
• Marine Insurance Coverage for marine cargo transportation challenges and uncertainties.
• Marine Cargo Insurance Insurance coverage for marine cargo shipments.
• Marine Hull Insurance Insurance coverage for marine vessel hulls.
• Takaful Motor Insurance Shariah-compliant motor insurance offering peace of mind and protection for drivers.
• Fire Takaful Insurance Safeguards homes, businesses, and properties against fire-related risks through a cooperative model based on mutual assistance.
• Special Takaful Insurance Shariah-compliant solutions tailored to protect unique and specialised risks across various business sectors.
• Miscellaneous Takaful Shariah-compliant protection plans protecting corporate clients against a wide range of everyday business risks.
• Travel Takaful Islamic-compliant comprehensive protection for leisure or business travel.
• Liability Takaful Insurance Shariah-compliant solution safeguarding businesses and employees from legal liabilities arising from third-party claims.
• Engineering Takaful Insurance Shariah-compliant protection for construction and engineering-related risks in Sri Lanka.
• Cyber Insurance Protection against cyber risks and digital threats for businesses.
• Directors & Officers (D&O) Liability Insurance Coverage for corporate directors and officers against liability claims.
• Workmen's Compensation Insurance Coverage for employee work-related injuries and compensation.
• Electronic All Risk Insurance Coverage for electronic equipment against all risks.
• Contractors All Risk Insurance Coverage for contractors against construction-related risks.
• Property All Risk Insurance Comprehensive property coverage against all risks.

Quantifiable outcome

• No paperwork or signatures required for V Claim motor claims processing
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Cyril Dharmawardana Foundation (CDF Charity)minorStrategic or Co-development Partner · 1 January 2025LOLC General Insurance partnered with the Cyril Dharmawardana Foundation to extend vital support to cancer patients in Sri Lanka, demonstrating corporate social responsibility and community engagement.
• LOLC Holdings PLCcoreOthersParent company and primary shareholder. LOLC General Insurance PLC is a subsidiary of LOLC Holdings PLC, Sri Lanka's largest diversified conglomerate, providing financial strength and corporate governance.
• A-rated Global ReinsurerscoreOthersLOLC General Insurance is backed by A-rated global reinsurers providing financial security and reinsurance capacity for large risks.
• LOLC Honours Partner MerchantsminorChannel Partner/ Reseller/ DistributorOver 1,000 merchant partners across Sri Lanka participate in the LOLC Honours loyalty program, offering discounts and rewards to policyholders at supermarkets, car washes, hotels, hospitals, restaurants, and more.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Allianz Insurance Lanka: Sri Lankan subsidiary of global insurer Allianz offering motor, fire and liability products. Comparable as a larger, internationally backed general insurance competitor with broader brand recognition.
• AIG Insurance Sri Lanka (now part of local operations): International insurer with historical Sri Lankan presence offering commercial lines and specialty covers. Comparable as a broader incumbent operating regionally with overlapping corporate and specialty insurance products.
• Sri Lanka Insurance Corporation (SLIC): State-linked incumbent general insurer in Sri Lanka, historically the market leader across motor, fire and marine lines. A larger established player that overlaps with LOLC General across most product categories.

Direct peers

• HNB Assurance: Sri Lankan general and life insurer offering motor, fire, travel and engineering covers. Comparable as a domestically licensed insurer with similar product breadth and distribution through bancassurance and branches.
• Fairfirst Insurance: Sri Lankan general insurer with strong motor and personal lines presence; comparable as a competitor offering similar motor and household covers, supported by an international insurance group parent.
• Continental Insurance Lanka: General insurance carrier in Sri Lanka covering motor, fire, marine and engineering lines. A domestic non-life peer targeting the same corporate and retail customers as LOLC General.
• Union Assurance: Major Sri Lankan general insurer offering motor, fire, marine and liability products. Competes head-to-head with LOLC General in corporate and retail segments through similar distribution channels and pricing models.
• Ceylinco Insurance: Sri Lanka's largest general insurance carrier and a direct competitor across motor, fire, marine and engineering lines. Comparable as a domestically licensed non-life insurer offering both individual and corporate products in the same market.

Emerging players

• Softlogic Life Insurance: Sri Lankan insurer with growing general insurance capabilities alongside life business. Comparable as a domestic competitor with overlapping distribution and digital initiatives targeting similar retail customers.

Regional players

• Sanasa Insurance Company: Sri Lankan general insurer with cooperative/regional roots offering motor and small-business covers. Comparable as a domestic non-life peer competing for similar individual and SMB customers, particularly in non-Colombo markets.

Market position

Strengths2 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@lolcgeneral?si=liHyCjvbvEdbSX7l
• Facebookfacebook.com/1ABdx9NDkF
• LinkedInlinkedin.com/company/lolc-general-insurance
• Instagraminstagram.com/lolc.general
• TikToktiktok.com/@lolcgeneralinsurance?_t=ZS-8zpXifM1RG4&_r=1

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 LOLC General Insurance