This shift comes following the successful acquisition of a life insurance license from the Insurance Regulatory Commission of Sri Lanka (IRCSL), marking a new chapter for the company.
The development is further strengthened by the appointment of insurance pioneer and industry veteran - Nimal Balawardhane, as Executive Director, CEO and Principal Officer for SIB.
With nearly two [02] decades of experience in the industry, Mr Balawardhane’s leadership signals the company’s commitment to establishing a credible and competitive presence in the life insurance brokering space.
Since its inception in 2008, SIB has built a strong reputation in the general insurance sector, managing corporate portfolios in marine, motor, and property insurance.
The company has also served as the internal insurance arm of the DSI Samson Group, while steadily growing its external clientele.
With the addition of life insurance to its offering, SIB is now positioned to offer a total solution, encompassing both general and life insurance solutions.
For Sri Lanka’s business sector - where managing employee benefits and long-term financial security is increasingly vital - this marks a timely and strategic evolution.
“This significant milestone helps us to focus on a 360-degree service portfolio under SIB, enabling us to provide total insurance brokering solutions for the group as well as our external customers,” stated Mr. Balawardhane.
SIB’s expansion into life insurance reflects broader market trends, including the rising need for integrated insurance solutions that cater to shifting workforce demographics and changing risk landscapes.
It also underscores regulatory confidence in the company’s operational maturity and governance standards.
As Samson Insurance Brokers enters this new chapter, the company will focus on leveraging its internal expertise, longstanding partnerships, and the strategic leadership of Mr. Balawardhane to build a credible and competitive life insurance brokering practice with island-wide relevance.
Captions - Executive Director/Principal Officer, SIB, Nimal Balawardhane.