Sri Lanka Insurance Brokers Association

What Sri Lanka Insurance Brokers Association does

Sri Lanka Insurance Brokers Association (SLIBA) is a private, non-profit professional industry association incorporated and operating in Sri Lanka. Founded in 1987 following the government's liberalization of the insurance industry and the entry of private sector participants, SLIBA functions as the central representative body for registered insurance brokers in Sri Lanka, with membership mandatory for the granting and annual renewal of broker licenses issued by the Insurance Regulatory Commission of Sri Lanka (IRCSL). The association represents approximately 80 member broker companies — including Senaratne Insurance Brokers, Aitken Spence Insurance Brokers, and George Steuart Insurance Brokers — which collectively control roughly 23% of Sri Lanka's general insurance market.

SLIBA's core services encompass regulatory advocacy on behalf of members, training and continuing education through a Knowledge Hub (curated materials on reinsurance concepts, business interruption insurance, and related topics), Broker Assistance Committees offering technical and regulatory guidance, dispute arbitration, enforcement of a code of conduct, and industry networking through events such as SLIBA Night, the Inter-Broker Cricket Tournament, and the annual SLIBA Symposium. The association maintains close institutional relationships with the IRCSL and the Insurance Association of Sri Lanka (IASL), collaborates on consumer awareness campaigns including those in underserved districts like Jaffna, and participates in sector-wide digital initiatives such as the Digital Motor Insurance Card launched with the Sri Lanka Police Department.

SLIBA's revenue model is membership-fee-based, generated through mandatory recurring subscriptions from registered broker companies required for IRCSL licensing. The organization is governed by an annually elected council drawn from member firms; the 2025/26 council is led by President Ainsley Alles of Senaratne Insurance Brokers and Vice President Adel Hashim of Icon Insurance Brokers. Headquartered at Methodist Central Building, Galle Road, Kollupitiya, Colombo 03, SLIBA is undertaking institutional modernization in 2025/26, including formalizing registration with the Registrar of Companies, establishing a permanent secretariat, and launching four advisory sub-committees.

Name

Sri Lanka Insurance Brokers Association

Legal name

Sri Lanka Insurance Brokers Association

Website

https://sliba.lk

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

1–10 employees

Short description

Sri Lanka Insurance Brokers Association (SLIBA) is the mandatory, central professional association for Sri Lanka's registered insurance brokers. Founded in 1987, it represents ~80 broker firms controlling ~23% of the general insurance market and provides regulatory advocacy, training, and networking funded by membership fees.

Ownership category

akta.pro rank

Product category

Insurance Industry Association

NAICS

Business Associations (813910), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Services-Membership Organizations (8600), Insurance Agents, Brokers & Service (6411)

akta.pro industry

PRIMARYFSAEADAK

Insurance Program Administration & MGA/MGU Services

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Insurance Brokerage & Risk Advisory

SECONDARYFSAOAHAA

Treaty Reinsurance Brokerage

Financial & Insurance/Reinsurance/Reinsurance Brokerage & Intermediation

Keywords

• Insurance broker association
• Professional industry body
• Broker training programs
• Insurance industry advocacy
• Regulatory liaison services

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership fees: SLIBA generates revenue through mandatory membership fees from insurance broker companies. Membership in SLIBA is required for obtaining and renewing licenses from the Insurance Regulatory Commission of Sri Lanka (IRCSL).

Distribution channels1 record

Marketing channels8 records

Core offering

SLIBA is the central professional association for all registered insurance brokers in Sri Lanka. It provides membership services, training and education, regulatory advocacy, code of conduct enforcement, dispute arbitration, and a Knowledge Hub with insurance education resources. Membership in SLIBA is mandatory for the granting and annual renewal of broker licenses issued by the Insurance Regulatory Commission of Sri Lanka (IRCSL).

Product overview

SLIBA is a professional association rather than a product company. It operates a website portal serving as the central hub for member communications, digital applications, and resource distribution. The association provides services including a Knowledge Hub with insurance education materials and Broker Assistance Committees offering technical and regulatory support to member insurance brokers.

Differentiator

Problem solved

Functional benefit

Products and services

• SLIBA Membership Mandatory professional association membership for insurance broker companies in Sri Lanka. Required for the granting and annual renewal of broker licenses issued by the Insurance Regulatory Commission of Sri Lanka (IRCSL). Membership includes professional recognition, regulatory advocacy, training and education, code of conduct enforcement, dispute arbitration, and access to industry networking events.
• Knowledge Hub Curated educational resources for SLIBA members, including Reinsurance Concepts & Practices presentations and Business Interruption Insurance guides. Available to member insurance brokers for continuing education and technical knowledge enhancement.
• Broker Assistance Committees

Quantifiable outcome

• 57 registered insurance brokers represented (approximately 23% of general insurance market)

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Sri Lanka Police DepartmentcoreStrategic or Co-development Partner · 1 January 2026The IASL together with its 13 General Insurance member companies will grant over 500 tablets to the Police Department to support the Accident Management System rollout. SLIBA participates in this Digital Motor Insurance Card initiative that enables Police officers to verify motor insurance coverage digitally.
• Lloyd's IndiaminorStrategic or Co-development Partner · 1 September 2025SLIBA met with Mr. Shankar Garigiparthy, Regional Manager – Africa, India & Middle East, Lloyd's India, for discussions on opportunities, collaborations, and the evolving reinsurance landscape. This represents potential future partnership development for reinsurance knowledge sharing and market access.
• Insurance Regulatory Commission of Sri Lanka (IRCSL)coreStrategic or Co-development PartnerIRCSL is the governing and regulating body for the insurance industry in Sri Lanka. SLIBA works closely with IRCSL for broker licensing, regulatory compliance, industry development initiatives, and consumer protection. The partnership is essential as SLIBA membership is mandatory for IRCSL license granting and renewal.
• Insurance Association of Sri Lanka (IASL)coreStrategic or Co-development PartnerSLIBA collaborates with IASL on industry initiatives such as the Insurance Awareness Program in the Northern district and the Digital Motor Insurance Card launch. Together with IRCSL, these three bodies work on public awareness campaigns, industry standards, and digital transformation initiatives.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Lloyd's of London: Global specialty insurance and reinsurance market. SLIBA engaged with Lloyd's India in September 2025, making Lloyd's a relevant benchmark for the international reinsurance knowledge SLIBA is now fostering.
• British Insurance Brokers' Association (BIBA): UK's leading insurance broker association, vastly larger in scale but serving the same purpose of representing brokers to regulators and insurers. Relevant when assessing institutional maturity and member service models.
• Council of Insurance Agents & Brokers (CIAB): US trade association for top commercial insurance brokers and agents. Provides member services, advocacy, and research — directly comparable to SLIBA but at much larger scale and scope.

Direct peers

• Bangladesh Insurance Brokers Association: National body representing insurance brokers in Bangladesh, with similar South Asian operating context and regulatory interface. Closest comparable in market dynamics to SLIBA.
• Federation of Insurance Brokers (FIB) — Singapore: National association of insurance brokers in Singapore, similar in mandate of professional standards, training, and regulatory advocacy. Useful regional comp for SLIBA's institutional role.
• Insurance Association of Sri Lanka (IASL): Domestic industry association representing insurance companies in Sri Lanka. Sister organization to SLIBA with overlapping regulatory partnerships (IRCSL) and joint initiatives such as the Insurance Awareness Program.
• National Insurance Brokers Association (NIBA) Australia: Peak body for Australian insurance brokers, handling standards, advocacy, and education. A relevant cross-market comp for SLIBA's member-services and regulatory engagement model.
• Insurance Brokers Association of India (IBAI): National-level association of licensed insurance brokers in India, structurally analogous to SLIBA in representing and self-regulating the broker community. Closest comparable in scale and mandate within South Asia.
• Sri Lanka Insurance Institute (SLII): Professional institute promoting insurance education and qualifications in Sri Lanka. Adjacent to SLIBA's Knowledge Hub and training mission, with overlapping membership in the local insurance community.

Others

• Insurance Regulatory Commission of Sri Lanka (IRCSL): Statutory regulator of Sri Lanka's insurance industry. While not a peer (it is SLIBA's regulator and partner), it is the most consequential counterparty for SLIBA's licensing and franchise, included here for ecosystem context.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/sliba-sri-lanka-insurance-brokers-association

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Sri Lanka Insurance Brokers Association