About Us

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Welcome To SANASA Insurance Company (Pvt) Ltd.

Sanasa Insurance Company Limited is a service support organization, established to serve members of Sanasa societies and other community based organizations in Sri Lanka.

The term Sanasa is the Sinhala acronym for a Thrift, Credit and Cooperative Society. It is also used to denote the entire movement of 8400 TCCS covering about three million beneficiaries (society members and members of their families) to the extent of 15% of the total population in the country. Sanasa Insurance Company operates insurance business in all areas in Sri Lanka including the Northern and Eastern provinces that are cleared now from war situations. In harness with a cooperative network of large number of Sanasa Societies located across Sri Lanka, SICL has greater potential & capacity to look after the risk management aspects of the rural masses of Sri Lanka. Hence it mainly focuses on providing micro insurance services to members of Sanasa societies and other CBOs that are located mainly in the rural sector.


The process of formation of the SICL took place in 1989, when a NGO called 'Forum on Development' (FOD) conducted a survey to identify the more popular voluntary organizations in the area of Warakapola in the Kegalle district. It was a project designed to promote development skills of voluntary organizations. The main findings to be covered in the study were how villagers were organized into voluntary organizations and how funds were built and administrated to help people in need. It was revealed in the survey that Funeral Aid Societies (FAS) were most popular and active organizations at the village level with a high degree of participation due to their need based approach of providing assistance, when there is a family calamity such as death of the breadwinner or the caretaker of children and elderly persons. It was further revealed, that FAS were strong with well built funds.

In the light of this information, representatives of FAS were motivated by FOD to design and implement an insurance scheme of their own. The insurance scheme designed by them was named "Ahethuka Wipath Awaranaya" (risk coverage against unfortunate perils). Benefits under the scheme included death cover and disability caused by road accidents, occupational hazards, falling from heights and trees, poisoning, fire and lighting, floods and snakes bites, which were considered as common perils faced by the poor.

The scheme was inaugurated in October 1991 with a participatory membership of 182 persons. The organization that was established for conducting the scheme was known as "All Lanka Mutual Organizations" (ALMAO). After 2 year's operation, ALMAO became a registered society and was declared as a Specially Authorized Society by the Ministry of Trade and Commerce under the Societies Ordinance. In 1996 the micro insurance division of the SANASA Federation of Thrift and Credit Societies was amalgamated with ALMAO and as a result, insurance activities of ALMAO expanded rapidly. Consequently, the management of ALMAO decided to strengthen the structure of the organization and to obtain the legal status of a recognized insurer. As there were no provisions in the insurance law to register a Mutual Organization, arrangements were made to set up a registered company to obtain a license to transact insurance business for the SANASA movement. The license was granted by the Insurance Board of Sri Lanka (IBSL) established under the Regulation of Insurance Industry Act N0. 42 of 2000.

Initially the SICL was established to operate only the business of Life Insurance. Before long it had to expand its business operations to the field of General Insurance since its main objective was to introduce micro insurance products with multiple benefits related to both Life and General Insurance portfolios.

Board of Directors

Dr. P A Kiriwandeniya Chairman

The Leader of the Sanasa Movement and the Chairman of the Sanasa Insurance Company Ltd. He is an internationally recognized thinker and an institution builder in the cooperative sector.

Mr. P.A.P. Bandara Director

Mr. Bandara is a pioneer director of SICL & re-appointed to the board in 2012. He is a retired Government servant and currently serves as the president of Warakapola Sanasa Zone.

Mr. K.G. Wijerathne Director

Mr. Wijerathne is an attorney-at-law by profession having over Fifteen years practice. He was also the Director of SANASA Federation. Matale District Co-operative council and the president of Pahalawewa SANASA Society and currently serves as a director to the SANASA Travels (Pvt) Ltd. He has over 30 years of experience in the SANASA Movement. He was appointed to the board of SICL in 2006.

Mr. R.A. MahindaratneDirector

Mr. Mahindaratne is in Government service and he was appointed to the board in 2007. Mr. Mahindaratne has over 35 years of experience in the Sanasa Movement and currently holds the position of president of the Meegahawatta Sanasa Society.