SANASA Life Insurance, renowned for incomparable service rendered to society, is emerging as a strong assurance company with a significant customer base and a globally recognized brand in micro assurance.

The SICL story began in the 1989’s with a survey done by  the Forum of Development headed by  Dr. P.A.Kiriwandeniya.  The study examined how villagers were managing risks in their lives and how they organized themselves as voluntary organizations to address the biggest risk in their lives, death.  The exercise revealed the critical need for a risk management mechanism for the rural population and also the potential of the Funeral Aid Societies (FAS) to cater to this need. After studying the risks and the way the villagers are organized, Forum on Development introduced a locally designed insurance scheme through the FAS and cooperative societies. The insurance scheme so designed was named “Ahethuka Wipath Awaranaya” (risk coverage against unforeseen perils). The scheme was inaugurated in October 1991 with a participatory membership of 182 members of SANASA societies and FAS. With the passage of time, the number of participants increased rapidly and SANASA made the arrangements to obtain the license to operate a life insurance business in 2003 under the name SICL and to operate General Insurance in 2005. In 2019, the company was rearranged under two affiliations as SANASA Life Insurance and SANASA General Insurance, under the direction of the Insurance Board of Sri Lanka.

The customized insurance products of SANASA insurance target the needs of the customers from the lower and middle-income sectors in Sri Lanka, while the general insurance programme takes care of the operational risks of the banking, with multiple insurance products.

SICL provides clients with excellent service on all occasions and at all stages to mitigate the risk for the purpose of improving their living conditions and securing economic development.  With the branching off as SANASA Life Insurance and SANASA General Insurance, the ultimate purpose of the organization is to align the organizational motives with customer needs and achieve greater levels of excellence in serving the growing client base.

The establishment of the SANASA Life Insurance Company stands as a significant turning point of the history of rural development as it enabled the insurance industry to deepen its risk management to previously uncatered customer segments.

Website Link: www.sicl.lk