Arpico Company

Arpico Company: A Comprehensive Overview

1. Company Overview

Founding Date and Background

Arpico Company, formally known as Arpico Insurance PLC, was established in 2011. It emerged as a significant player in Sri Lanka's insurance sector, offering a diverse range of products including health, life insurance, and investment plans.

Parent Company/Owership Structure

Arpico Insurance PLC is a subsidiary of Richard Pieris & Company PLC, one of Sri Lanka's largest and most successful diversified business conglomerates. With a history spanning nearly 90 years, Richard Pieris & Company oversees a vast network of 50 subsidiary companies and employs around 30,000 staff members.

Headquarters Location

The headquarters of Arpico Insurance PLC is located at No. 55/20, Vauxhall Lane, Colombo 02, Sri Lanka. This strategic location places it at the heart of the nation's commercial activities.

Global Business Scope

Arpico Insurance PLC primarily focuses on the Sri Lankan market but is actively expanding its geographical footprint. The company has established partnerships with global industry giants, such as Munich Re, to enhance its service offerings and reach.

Main Regulatory Bodies

The company operates under the regulation of the Insurance Regulatory Commission of Sri Lanka (IRCSL), which oversees the insurance sector to ensure compliance with national laws and standards.

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2. Company History and Development

Key Milestones

Since its inception in 2011, Arpico Insurance has achieved several milestones, including the launch of various innovative insurance products tailored to meet the needs of its customers.

Business Expansion Journey

Arpico Insurance has consistently expanded its product portfolio, which now includes endowment plans, term assurance plans, and health insurance, among others. The company has also embraced digital transformation, offering online payment facilities and a mobile app for customer convenience.

Customer Base Growth

Over the years, Arpico Insurance has cultivated a diverse customer base, ranging from individual policyholders to corporate clients. Its commitment to integrity and professionalism has fostered trust among its clients, contributing to steady growth in its market share.

Platform Development History

The company has developed a user-friendly online platform that allows customers to access services such as policy quotations and payments. Although it currently lacks an online quote facility, customers can obtain quotations by visiting physical branches across Sri Lanka.

Important Awards or Recognitions Received

Arpico Insurance has received numerous accolades, including being recognized as the "Most Successful Life Insurance Company in Sri Lanka" for 2018 and the "Most Trusted Life Insurance Brand in Sri Lanka" for 2019 by Global Brands Magazine. Additionally, it was awarded the "Best Life Insurance Company for Innovation in Sri Lanka" in 2020 by Global Banking & Finance Review.

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3. Trading Services Offered

Forex Trading Options

While Arpico Insurance primarily focuses on insurance and investment products, it does not explicitly offer forex trading services. However, its investment arm, Arpico Ataraxia Asset Management, provides various investment funds that may include exposure to global markets.

Stock Trading Options

Arpico Finance Company PLC, another entity within the Arpico umbrella, engages in financial services, including stock trading. It operates within the Colombo Stock Exchange, providing clients with access to a range of stock options.

CFD Trading Products

Details regarding specific Contracts for Difference (CFD) trading products are not prominently featured within the Arpico offerings. However, the investment management services may provide indirect exposure to such products through managed funds.

Other Financial Instruments

Arpico Ataraxia Asset Management offers various financial instruments, including unit trusts, bonds, and equity funds. These products are designed to cater to different investment strategies and risk appetites.

Special Services or Unique Advantages

Arpico Insurance distinguishes itself through its commitment to customer service and innovative product offerings. The company is recognized for its focus on "insurance for the living," emphasizing the importance of providing comprehensive coverage that supports policyholders throughout their lives.

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4. Regulatory and Legal Background

Detailed Regulatory Information

Arpico Insurance PLC is regulated by the following bodies:

• Insurance Regulatory Commission of Sri Lanka (IRCSL)
• Central Bank of Sri Lanka (for financial regulations)

Legal Entity Structure by Region

Arpico operates primarily in Sri Lanka, with its legal entity structure focusing on compliance with local laws and regulations governing the insurance sector.

Client Fund Protection Measures

As a regulated entity, Arpico Insurance adheres to strict guidelines to protect client funds, including maintaining adequate reserves and ensuring transparent accounting practices.

Countries/Regions Served

While Arpico Insurance primarily serves the Sri Lankan market, its investment management arm may cater to clients looking for exposure to international markets through diversified investment products.

Compliance History

Arpico Insurance has maintained a strong compliance record, consistently meeting regulatory requirements set forth by the IRCSL and other relevant authorities. This commitment to compliance has bolstered its reputation in the industry.

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5. Competitive Landscape

3-5 Main Competitors

Arpico Insurance faces competition from several key players in the Sri Lankan insurance market, including:

• Sri Lanka Insurance Corporation
• Allianz Insurance Lanka Ltd.
• HNB Assurance PLC
• Janashakthi Insurance PLC

Positioning in the Industry

Arpico Insurance is positioned as one of the leading insurance providers in Sri Lanka, known for its innovative products and strong customer service. Its affiliation with Richard Pieris & Company enhances its credibility and market presence.

Market Differentiation Factors

Arpico's differentiation lies in its commitment to innovation and customer-centric services. The company's focus on providing comprehensive insurance solutions and its strong ethical foundation have helped it build a loyal customer base.

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In conclusion, Arpico Company stands as a significant entity in the Sri Lankan insurance and financial services landscape. With a rich history, a diverse range of products, and a commitment to customer satisfaction, it continues to thrive in a competitive market. For more detailed information on specific services or to explore investment opportunities, learn more.