Sanasa General Insurance and RDB officials at the event

Sanasa General Insurance recently entered into a significant partnership with the Regional Development Bank (RDB) by signing a Memorandum of Understanding (MoU). 

The MoU was signed on August14, in Colombo at an event graced by the presence of Sanasa General Insurance Chairman, Tishan Subasinghe and RDB Chairman, W.A.D.S. Gunasinghe and several others. The MOU facilitates a strategic collaboration aimed at providing comprehensive insurance solutions to the RDB Bank, its employees and customers. Under the MoU, Sanasa General Insurance will offer motor insurance to the motor vehicles of RDB Bank and its employees and customers.

Additionally, the partnership extends to providing insurance coverage for non-motor assets, ensuring that the bank’s staff and customers have access to a wide range of insurance services. The collaboration also includes the provision of other types of insurance facilities such as title insurance and medical/surgical insurance under the general insurance scheme.

“We are thrilled to partner with the RDB to offer a comprehensive range of insurance solutions tailoured to meet the needs of their employees and customers. This reflects our commitment to delivering top-tier insurance products that provide protection and peace of mind. We believe that this partnership will bring about substantial benefits to both Sanasa General Insurance and RDB Bank and communities we serve,” said Subasinghe. 

As a prominent player in the industry, Sanasa General Insurance demonstrated remarkable growth in the second quarter of this year (2024), achieving significant milestones in both gross written premium (GWP) and market share. The company reported a substantial 105 percent increase in GWP compared to the same period in 2023, whereas their market share rose from 1.23 percent to 2.41percent.