Business Overview

As a composite insurer and fund manager, Eagle Insurance offers a wide portfolio of life, general and fund management solutions for individual and corporate customers. In 2006 the Company's consolidated revenue increased by 13% to 4,813 million rupees. Overall gross written premium income for the year registered a growth of 14% to 4,618 million rupees. We are ranked the 3rd largest life insurer with a 20% market share and the 5th largest general insurer with a 5% market share in terms of total gross written premium.

We have 543 employees and a sales force of more than 2,400 in business units across 27 locations. Deepal Sooriyaarachchi is our Managing Director. Employee support is secured through HR initiation. We also secure the support of our 2,400-strong Agency Force to implement regionwide CSR initiatives.

We have earned a commendable reputation for our prudent and professional management and have also demonstrated a high level of social responsibility and good governance in all our endeavours. 

We adhered to an effective compliance framework to ensure all business activities are conducted in accordance with applicable laws, regulations and other statutory requirements.

Managing CSR in our business

The main areas of focus of our CSR programme in 2006 were safety and education. These were carefully selected with the aim of improving the general well-being of our society. Safety was selected as a corporate responsibility platform, due to its alignment with the company’s involvement in risk management.

CSR is an integral part of life at Eagle Insurance and all employees are made aware of the need to add value to the company’s endeavours to uplift the community. This is effectively achieved through emphasising CSR projects within in-house publications and employee welfare events. Employee support is secured through HR initiation. We also secure the support of our 2,400-strong Agency Force to implement regionwide CSR initiatives.

We ensure the long-term continuity of our ventures by setting aside 1% of the preceding three year profits. We also extend this by setting up trust funds.

Our CSR-nominated manager is Amal Perera, Head of Marketing & Planning, who readily receives the support of our Managing Director and the Executive Committee to spearhead and identify CSR projects and events in accordance with the broad governance framework. Our marketing department is mainly responsible for identifying, implementing and managing our CSR initiatives, utilising funds which are allocated at the beginning of the year. We continuously assess and identify opportunities for new CSR platforms as per the evolving societal dynamics. Eagle's sports club is also used as a mechanism to initiate and implement CSR endeavours such as blood donation campaigns and tsunami relief work.