Here are reputable group (employer / corporate) life-insurance providers in Sri Lanka that are widely used and well-regarded — with a short note about why each is commonly chosen. I’ve cited sources so you can check product details and recent company standing.
Top providers (strong candidates for group life cover)
- Ceylinco Life — market leader with large life fund, strong financials and many corporate group plans. Good for size, stability and wide product options. (ceylincolife.com)
- AIA Insurance Lanka (AIA Sri Lanka) — part of the AIA Group (Asia-Pacific), well known for employee/group solutions, bancassurance links and large distribution network. Good for global-standard products and add‑on benefits. (ten.lk)
- Union Assurance — active in corporate/group life and group health; promotes digital/admin conveniences (claims/app integration) and a broad set of optional benefits for employees. (unionassurance.com)
- Softlogic Life Insurance — a major local life insurer with a sizeable market share and corporate solutions; often chosen for competitive pricing and corporate channels. (en.wikipedia.org)
- Janashakthi (Janashakthi Life/Janashakthi Insurance) — longstanding life insurer with corporate offerings and recognized market presence. Good option for employer group policies. (en.wikipedia.org)
- SANASA Life Insurance — local insurer known for cooperative/community reach and group schemes (used by unions, large employee groups). Good for schemes that target broad employee/member coverage. (frontpage.lk)
Where these recommendations come from
- Company product pages, press releases and local news coverage showing group products, partnerships and market position. Use those pages to review product features (sum assured options, death / disability / critical-illness add-ons, exclusions, claim turnaround, digital admin tools). (unionassurance.com)
How to pick the best provider for your organisation (practical checklist)
- Cover & benefits: confirm basic death benefit plus common add-ons you need (TPD, permanent partial disability, critical illness, funeral, spouse/children cover).
- Pricing vs limits: get formal group quotes for the same benefit schedule (per-employee rates by age-band, any minimum participation).
- Underwriting / medicals: check whether the insurer waives medicals for lower sums or has simplified underwriting for groups.
- Claims track record & speed: ask for references or corporate clients and average claim settlement times.
- Administrative tools: look for payroll integration, online member management, e-cards/claim portals and digital enrolment. Union Assurance and others advertise such features. (unionassurance.com)
- Financial strength & regulator status: confirm the insurer is licensed and financially sound (large life fund / CAR are positive signs). Ceylinco, for example, publishes financials and awards. (ceylincolife.com)
Next steps (recommended)
- Request formal group quotes from 3–5 insurers above (or through a reputable broker) using the same benefit schedule and employee census (ages, gender, occupations).
- Ask insurers for sample policy wordings, claim examples, timelines, and a list of current corporate clients.
- Verify licensing and any recent regulator notices (Insurance Regulatory Commission of Sri Lanka) — and confirm solvency/CAR figures if you need deeper financial assurance. For a quick directory of licensed insurers see local industry listings. (ten.lk)
If you want, I can:
- Draft a short benefits/spec sheet you can send to insurers to get comparable quotes; or
- Help prioritise which carriers are likely best for your company size, industry and budget (if you tell me approximate employee count, coverage level per employee, and whether you need add‑ons such as critical illness or disability).