MBSLFinance
The MBSL Insurance Company Limited is a fully owned subsidiary of the Merchant Bank of Sri Lanka (MBSL) and specializes in Life Insurance and General Insurance.
With its head office located at No. 122 Kew Road, Colombo 2, MBSL Insurance Limited began licensed operation of its Life Insurance business from April 2005 and subsequently branched out to doing General Insurance in August of the same year.
We take great pleasure in introducing MBSL Insurance Company Limited which is owned by the Merchant Bank of Sri Lanka (MBSL) 78% Shareholder. The MBSL group is 72.14% owned by the Bank of Ceylon. Hence MBSL insurance is fully engaged in securing insurance protection to all assets of government organizations and large private sector corporates.
Our valued customers are assured that the commitment to customer service and expertise will be consistent with MBSL's unparalleled reputation in professionalism and commitment to provide customers with the highest level of specialization in designated industry and product practices.
MBSL insurance is led by a team of professionals with years of foreign and local expertise who will provide you with the best protection and efficient services at all times.
The Company’s reinsurance for Life Insurance is primarily placed with Hannover Re of Germany - the third largest reinsurer in the world - ensuring effective risk management.
Reinsurance of General Insurance is spread across five reinsurance companies i.e. General Insurance Corporation of India, Best Reinsurance, Malaysia, Trust International, Bahrain , Labuan Reinsurance, Malaysia, Arab Reinsurance Company, Lebanon.
Financial Stability
MBSL Insurance derives its financial stability from its parent corporate entity Merchant Bank of Sri Lanka, which in turn is strengthened by being under the patronage of the country’s largest bank– the Bank of Ceylon (BOC).
The Merchant Bank of Sri Lanka offers corporate advisory and capital market services among others and was ranked third in the productivity profile of the Lanka Monthly Digest (LMD) where productivity is measured on the basis of profit per employee. In 2008, the bank’s turnover surpassed Rs. 1 billion, a considerable increase from the previous year’s turnover of Rs. 873 million.
Boasting of an asset base valued at Rs. 484 billion and successfully running for seven decades, BOC has one of the largest, island-wide network with over 700 service points and a worldwide network consisting of over 600 foreign correspondences. It’s also the leader in NRFC accounts holding 30% of the market share and 7.5 million customer accounts.
