Commenting on this new business venture, Chairman Richard Peiris Group, British Scientist /Engineer, Swiss based industrialist and Visionary entrepreneur Dr. Sena Yaddehige said that “group is very optimistic to explore the post war opportunities via well thought out diversification plan. The launch of Arpico Insurance is one such occasion. We are already in stock broking and financial asset management. Thus Insurance is a natural extension to further increase the bouquet of financial services offered by the group”. Plans are also underway to enter into the Leasing and Finance sectors within the forthcoming financial year to be a major force in financial services market in Sri Lanka. Richard Peiris Group posted an all-time high profit from operations during the last financial year with an impressive Rs. 3.4 billion and a post tax profit of 2.2Billionin 2010/11 with an estimated group turnover to reach Rs. 32 billion, a landmark achievement to celebrate the 80th anniversary of the group that speaks volumes for its stability and performance.

He further added, we have ambitious plans to increase our retail foot print with the consolidation of unique and unmatched hypermarket concept in addition to our long term ground work to expand in to health, leisure and education sectors.

Mr. Ravi Liyanage, Group Director Operations, Richard Peiris & Co. PLC said that “Arpico” is a household brand today to leverage it’s strengths and values in line with our overall objective of redefining the Life Insurance category, we intend to give the category a new meaning through its unique positioning, inspiring prospects to look at ‘Life Insurance’ in a positive manner. The brand proposition - ‘Insurance for the Living’, unlike any other insurers, will offer benefits so that one can enjoy life whilst living and continue to provide for those who live there after. Therefore the brand proposition ‘Insurance for the Living’ denotes the power of positive thinking that will and can change the attitude towards insurance and clearly differentiate Arpico Insurance from it’s competition.

We were driven by the insight that the hustle and bustle of modern living often over shadows the little moments that are meant to be cherished. We are reassuring our commitment to serve our customers life-long and help them treasure the little joys that make life worth living today by securing one’s future and that of their loved ones. This exclusive market space will help Arpico Insurance to create a distinct identity for itself in a category that thrives on negativity of life.”

“We will offer life insurance initially before venturing into other classes of insurance. The portfolio of our products is geared to meet and fulfill any life insurance needs prevailing in the market. As we move forward you may see the launch of several innovative products in the life space.



The icon “tree of life” visual identity symbolizes the wisdom, protection, strength and stability of the Richard Peiris Group which is in the backdrop of the brand. The stretched out tree, is a very powerful symbol to represent the group’s 80 years of deep rooted heritage, continuous growth and diversification because tree is the only living thing that continues to grow throughout its life-time. The colour scheme of the entire logo is a mixture of blue, signifying strength and stability with orange depicting warmth, energy, expansiveness, loyalty and confidence. White is universally accepted as representing purity- thus establishing the company’s integrity. “To make it contemporary and for visual appeal we have introduced a stylized tree” he said.

The initial distribution thrust will be focused on the Western Zone due to the fact that it generates a significant portion of the GDP of the country and swift expansion in to the other areas of the island base on its potential will follow through. Plans are also underway to extend services to “Arpico Retail Customers “where foot fall exceeds 650,000 on a monthly basis. Since life insurance is often sold and not bought one of the key success factors for any life insurance company would be its sales force and sales management. Company has a unique approach already mapped out with “key result areas for measurement with its optimum frequency”. Performance management being an integral part of a sales led business model company has also strengthen it’s training and development function to address probable performance gaps.

Arpico Insurance is proud to be associated with Munich Re the No 01 reinsurer, in the world to share its risk towards the business. Munich Re with its global presence over 30 countries and with premium income of € 46Bn (2010) shares its expertise with Arpico Insurance risk portfolio and is a testimony of prudent financial management irrespective of being a new entrant to the market.

Services of an ICT led, fully integrated financial services model is in place to manage all interfaces of the business which includes Customer Relationship Management too to provide an unmatched customer service to policyholders capturing all policyholder touch points.

Completion of a fully fledged business model to commence operation within just two and half months of obtaining license from the Insurance Board of Sri Lanka shows the determination, dedication and commitment of 13th ranked conglomerate , Richard Pieris and Company to provide financial security to the Sri Lankan public in a new market space.