LOLC Life and Pan Asia Bank Celebrate 11-Year Bancassurance Partnership

LOLC Life Assurance and Pan Asia Banking Corporation PLC have celebrated 11 years of their bancassurance partnership at “Sparkle of Excellence”, an event recognising outstanding performance during 2025.

Established in 2015, the partnership has expanded to cover 47 Pan Asia Bank branches, enabling customers across Sri Lanka to access life insurance solutions through the bank’s network.

The celebration brought together senior executives, sales leaders, branch representatives and high-performing teams who have contributed to the partnership’s growth and development. The event recognised their achievements and the role they play in delivering insurance services to customers.

Pan Asia Bank Director and Chief Executive Officer Naleen Edirisinghe highlighted the importance of the longstanding relationship and reaffirmed the bank’s commitment to exploring further opportunities for collaboration.

Kithsiri Gunawardena, Director of LOLC Life Assurance and Chairman of LOLC General Insurance, emphasised the importance of trust, mutual respect and cooperation in sustaining the partnership. He also underscored the organisations’ shared commitment to improving customer convenience and service delivery.

As the partnership enters its twelfth year, both organisations aim to strengthen their bancassurance channel and expand opportunities to serve customers across the country.

Bancassurance combines banking and insurance services, allowing customers to explore life insurance options through an established banking relationship. The model can make insurance more accessible by connecting protection solutions with customers’ broader financial needs.

However, effective bancassurance depends on more than the reach of a branch network. Clear communication about policy benefits, exclusions, premiums and claims procedures remains essential to helping customers make informed decisions. Accessible and reliable service throughout the policy lifecycle is equally important.

Against this backdrop, “Sparkle of Excellence” celebrated the people behind the partnership while recognising the progress made since 2015. With both organisations looking ahead, the collaboration is positioned to build on its established foundation and continue developing customer-focused insurance services.