Sri Lanka Insurance Corporation General

What Sri Lanka Insurance Corporation General does

Sri Lanka Insurance Corporation General Limited (SLICGL) is the state-owned general insurance arm of the Government of Sri Lanka and the country's largest general insurer, holding a 20.2% market share and a Gross Written Premium of Rs. 30.3 billion in 2025. The company sells motor, home, health, accident, and travel insurance to Sri Lankan individuals, families, corporate clients, and inbound tourists through a hybrid distribution model combining a 3,000+ officer field sales network, an online self-serve customer portal, dedicated health claims (Medi EZClaim) and motor payment (MotorPay) portals, and airport-point-of-entry counters for tourist insurance.

SLICGL's product portfolio includes Motor Third Party insurance, Home Protect Lite (five tiered plans from LKR 1,900 to LKR 5,300 annually, covering LKR 1–5 million sum insured), Medi Plus and Medi 60 medical insurance with multi-issuer hospital network access, Jana Rekuma personal accident cover, and Adventure Plus tourist insurance priced at US$8 per person for 30 days. A central technology investment is Beechat, the company's generative AI-powered trilingual (Sinhala/Tamil/English) customer assistant launched in 2026 as a customer-service differentiator, alongside the SLIC General Customer Portal supporting policy purchases, renewals, payments, and online claim submission via NIC and registered mobile number login.

Revenue is generated primarily through general insurance premiums — both one-time and recurring in nature — across motor, home, health, travel, and accident lines. SLICGL also settled Rs. 12.3 billion in claims in 2025, including post-Cyclone Ditwah payouts. The company is headquartered at No 21, Vauxhall Street, Colombo 02, with operations exclusively domestic to Sri Lanka under Government of Sri Lanka ownership.

Name

Sri Lanka Insurance Corporation General

Legal name

Sri Lanka Insurance Corporation General Limited

Website

https://slicgeneral.lk

Company type

Private

Founded year

1962

Operating status

Operating

Short description

Sri Lanka Insurance Corporation General Limited (SLICGL) is Sri Lanka's largest state-owned general insurer, holding 20.2% market share and offering motor, home, health, accident, and tourist insurance to individuals, families, corporates, and inbound travelers across Sri Lanka.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114), Insurance Carriers and Related Activities (524)

SIC

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

akta.pro primary industry

Personal Auto Insurance (FSAJAMAA)

akta.pro secondary industries

Motor Vehicle Liability Insurance (FSAJAMAC), Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

Keywords

• General insurance
• Motor insurance
• Health insurance
• Travel insurance
• Home insurance

Headquarters

HQ city

Colombo 02

HQ country

Sri Lanka

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. General Insurance Premiums: SLICGL generates revenue primarily through收取一般保险保费，包括机动车辆保险、住宅保险、医疗/人寿保险、旅游保险和意外保险。保费可以是一次性（大多数保险产品）或定期续保（健康保险等）形式收取。
2. Gross Written Premium: The company reported Gross Written Premium of Rs. 30.3 billion in 2025, representing total premiums collected before reinsurance deductions. This is the primary revenue metric for the insurance business.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Sri Lanka Insurance Corporation General Limited is a state-owned general insurance provider offering motor, home, health, travel, accident, and tourist insurance products to individual consumers in Sri Lanka. The company distributes these insurance products through a nationwide sales network of over 3,000 officers, a self-serve digital customer portal, and partnerships such as airport counters for tourist insurance. Its portfolio includes named products such as Motor Third Party, Home Protect Lite, Medi Plus, Medi 60, Jana Rekuma, Adventure Plus, and Travel Insurance.

Product overview

Sri Lanka Insurance Corporation General operates as a multi-product general insurance provider offering a portfolio of insurance solutions. The core product portfolio includes motor insurance (Motor Third Party), home insurance (Home Protect Lite), health/medical insurance (Medi Plus, Medi 60), travel insurance, accident cover (Jana Rekuma), and tourist insurance (Adventure Plus). The company has recently expanded into AI-powered customer service with Beechat, its generative AI-powered trilingual insurance assistant. The customer portal provides online access for policy management, claims processing (via Medi EzClaim health claims portal), and premium payments for both motor and non-motor products.

Differentiator

Problem solved

Functional benefit

Products and services

• Adventure Plus (Tourist Insurance) Comprehensive tourist insurance covering medical emergencies, accidents, hospitalization, and adventure activities for international travelers visiting Sri Lanka. Coverage is for individuals aged 6 months to 70 years, available in Personal, Family, and Group policy variants, and priced at US$8 per person for 30 days.
• Motor Third Party Insurance Essential motor vehicle protection providing comprehensive third-party coverage for Sri Lankan vehicle owners. Payments can be made online via the MotorPay system using vehicle number and NIC number validation.
• Home Protect Lite Home insurance providing protection for homes and belongings against fire, lightning, natural disasters, burglary, and other risks. Five tier plans are available ranging from LKR 1 Mn sum insured at LKR 1,900/year to LKR 5 Mn sum insured at LKR 5,300/year, all-inclusive of tax, with a 10% or Rs. 5,000 deductible per claim.
• Travel Insurance Extended travel insurance offering additional benefits for worry-free journeys. Listed with a 'Coming Soon' status on the customer portal.
• Jana Rekuma (Personal Accident Insurance) Reliable personal accident cover providing valuable benefits at an affordable premium for individuals seeking protection against accidental injury.
• Medi Plus (Medical Insurance) Practical medical insurance providing hospitalization benefits for private and government hospitals with approved hospital access. Coverage for adults aged 18-60 years (cover ceasing at age 69) and children aged 180 days to 17 years (cover ceasing at age 21). Includes day care surgery, organ donor expenses, and selected maternity benefits.
• Medi 60 (Medical Insurance) Medical insurance product referenced in the health claims portal, designed for healthcare coverage needs of customers accessing the Medi EZClaim portal for surgical and hospitalization expense claims.
• Beechat (AI Insurance Assistant) Generative AI-powered customer service assistant providing 24/7 access to policy information, claim status updates, and insurance support in Sinhala, Tamil, and English for Sri Lankan insurance customers.

Quantifiable outcome

• Gross Written Premium of Rs. 30.3 billion in 2025
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Ran FMminorGTM or Marketing Partner · 18 May 2026SLICGL collaborated with Ran FM to conduct a nationwide road safety awareness campaign on 18 May in Borella as part of National Road Safety Week 2026. The initiative educated motorists, pedestrians, school children, and public transport users on responsible road behaviour and accident prevention.
• Sri Lanka Tourism Development AuthoritycoreStrategic or Co-development Partner · 24 March 2026SLICGL launched Adventure Plus tourist insurance plan in partnership with the Sri Lanka Tourism Development Authority. The plan is specifically designed for tourists visiting Sri Lanka, covering medical emergencies, accidents, and evacuation during adventure activities. This initiative aims to position Sri Lanka as a responsible adventure tourism destination.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Ceylinco Insurance PLC: Ceylinco Insurance is one of Sri Lanka's largest private general insurers, offering motor, fire, marine, health and other P&C lines through a similar multi-channel distribution model; it competes head-to-head with SLICGL for individual, SME and corporate general insurance customers in Sri Lanka.
• Union Assurance PLC: Union Assurance is a Sri Lankan insurer offering general insurance lines including motor, fire, marine and personal accident, with a comparable multi-channel distribution strategy; it is a direct competitor to SLICGL in the general insurance market with similar product breadth.
• Janashakthi Insurance PLC: Janashakthi Insurance is a Sri Lankan general insurer offering motor, fire, marine, health and travel coverage; it competes with SLICGL across the same personal and commercial lines in the domestic market.
• HNB Assurance PLC: HNB Assurance is a Sri Lankan composite insurer providing both life and general insurance products, including motor and health lines with an established bancassurance channel through HNB; it competes directly with SLICGL in motor third-party, health and personal accident segments.
• LOLC General Insurance Limited: LOLC General Insurance is part of the LOLC Group and offers motor, fire, marine and personal accident lines to Sri Lankan customers; it competes with SLICGL in the general insurance market with a strong network across the country.
• AIA Insurance Lanka Limited: AIA Insurance Lanka is the local arm of the global AIA group, offering life and general insurance lines including motor and health; it competes with SLICGL in personal health and accident lines while bringing an international parent's underwriting and product expertise.
• Fairfirst Insurance (Sri Lanka): Fairfirst is a Sri Lankan general insurer with Allianz backing, providing motor, health, property and travel coverage; it competes directly with SLICGL in retail and SME general insurance with strong digital and agent distribution.

Broad incumbents

• Allianz Insurance Lanka Limited: Allianz Insurance Lanka is the local subsidiary of the global Allianz Group, offering a broad portfolio of general insurance products including motor, property, engineering and liability; it operates as a larger incumbent with worldwide reinsurance capabilities, overlapping with SLICGL across multiple general insurance lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

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 Sri Lanka Insurance Corporation General