Small Insurance Agency Seeking Loan in Colombo, Sri Lanka
IRCSL-certified insurance broker led by industry veteran seeks investment to supplement shortage of net capital.
| Established | 1-5 year(s) |
| Employees | 2 - 5 |
| Legal Entity | Private Limited Company |
| Reported Sales | USD 26 thousand |
| Run Rate Sales | USD 26 thousand |
| EBITDA Margin | Nil |
| Industries | Insurance Agencies |
| Locations | Colombo |
| Local Time | 11:05 PM Asia / Colombo |
| Listed By | Business Owner / Director |
| Status | Active |
Seeking Loan
USD
6.6 thousand
for
13.0%
annual interest,
1
year
(Native Currency: LKR 2,000,000)
Reason: Shortage of net capital requirement. The business requires funding to maintain its net capital of LK...
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Collateral Available: USD 0
Includes physical assets worth
USD
23 thousand
Name, Phone, Email
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Business Name
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User Verification
Business Overview
- Insurance broker offering a wide variety of insurance products.
- The company generates revenue through annual commission on annual premiums paid from insurers, with varying commission rates for different insurance products.
- Notably, the company receives a 30% commission for motor insurance products, 20% for non-motor, and 10% for health insurance.
- Company sells 65% of its policies to individuals and 35% to corporate and businesses, showcasing a balanced client base.
- Certified and licensed by the Insurance Regulatory Commission of Sri Lanka (IRCSL) to whom we send our financial reports every quarter.
- The owner has 27 years of experience in the insurance industry.
- The company generates revenue through annual commission on annual premiums paid from insurers, with varying commission rates for different insurance products.
- Notably, the company receives a 30% commission for motor insurance products, 20% for non-motor, and 10% for health insurance.
- Company sells 65% of its policies to individuals and 35% to corporate and businesses, showcasing a balanced client base.
- Certified and licensed by the Insurance Regulatory Commission of Sri Lanka (IRCSL) to whom we send our financial reports every quarter.
- The owner has 27 years of experience in the insurance industry.
Products & Services Overview
We sell the following insurance products:- Motor insurance.
- Non-motor insurance.
- General insurance.
- Life insurance.
- Travel insurance.
- Property insurance.
Motor is the top selling in terms of absolute sales, other top-selling categories are property insurance, and travel insurance.
- 65% of the policies are sold to individuals.
- 35% of the policies are sold to corporate and businesses.
Assets Overview
The tangible assets include the property, plant, and equipment worth LKR 7 million.
Facilities Overview
We use a home office setup in the owner's house in the western part of Colombo, Sri Lanka.
Capitalization Overview
- The business has no bank loans or external debts.- The company has one 1 shareholder owning 100% of the company.
Recent Activity
-
Earlier than 15 daysCEO, Healthcare Insurance & Risk Management, Pune, Corporate Investor / Buyer connected with the Business
-
Earlier than 15 daysProgramming Head, Broadcast Media, Gurgaon, Individual Investor / Buyer connected with the Business
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