Eagle Sri Lanka’s
No. 1 in “Good Corporate Governance Disclosures” -January 2007
Eagle was recognized for its commitment to ethics
and total transparency and was awarded 1st place in
“Good Corporate Governance Disclosures”
in Sri Lanka. Eagle’s Annual Report was also
adjudged runner-up in the Insurance Companies Sector.
The Awards were presented by the Institute of Chartered
Accountants of Sri Lanka.
At the awards presentation Yohan Perera, President
- Institute of Chartered Accountants of Sri Lanka
stated that “It takes not only prestige and
commitment to participate in this event but more importantly
it is a challenge and noteworthy achievement to be
a recipient of an award.” He continued by commenting
that “If sustainable economic growth is the
goal, good corporate governance is essential. Corporate governance is about actions and behaviours - actions and behaviours that need to be taken by the enterprises, and must be supported by professional accountants and all those involved in the development and disclosure of financial information. Good corporate governance
hinges on a number of elements such as principles,
values, laws, rules, regulations and institutions’.
he added.
"We are extremely pleased to receive this most prestigious and esteemed award" stated Mr. Deepal Sooriyaarachchi, Managing Director Eagle Insurance. "It is a testimony and a reflection of what our company stands for, our transparency and ethical stand in society." he continued.
This Year Eagle walked away with a host of coveted awards. Eagle was awarded number one in Sri Lanka in "Customer Relations" and was ranked "among the "Ten Best Corporate Citizens of Sri Lanka" for the third successive year. Both Awards were presented by the Ceylon Chamber of Commerce
Eagle was also recently ranked Asia's number 1 for CSR in the industry by Asian Insurance Review, in light of Eagle's policy of 'CSR without fanfare'
"We are proud of our significant achievements both locally and internationally but we will not rest on our laurels and as part of global group we will strive to constantly improve ourselves and our standards of service and performance to continue meeting international levels of excellence" said Managing Director Mr. Deepal Sooriyaarachchi.
Eagle
number one in Customer Relations in Sri Lanka
Ranked among the 10 Best Corporate Citizens for the
3rd consecutive year -November 2006
Eagle was recognized for its commitment to ethics
and total transparency and was awarded 1st place in
“Good Corporate Governance Disclosures”
in Sri Lanka. Eagle’s Annual Report was also
adjudged runner-up in the Insurance Companies Sector.
The Awards were presented by the Institute of Chartered
Accountants of Sri Lanka.
At the awards presentation Yohan Perera, President
- Institute of Chartered Accountants of Sri Lanka
stated that “It takes not only prestige and
commitment to participate in this event but more importantly
it is a challenge and noteworthy achievement to be
a recipient of an award.” He continued by commenting
that “If sustainable economic growth is the
goal, good corporate governance is essential. Corporate
governance is about actions and behaviours - actions
and behaviours that need to be taken by the enterprises,
and must be supported by professional accountants
and all those involved in the development and disclosure
of financial information. Good corporate governance
hinges on a number of elements such as principles,
values, laws, rules, regulations and institutions’.
he added.
"We are extremely pleased to receive this most prestigious and esteemed award" stated Mr. Deepal Sooriyaarachchi, Managing Director Eagle Insurance. "It is a testimony and a reflection of what our company stands for, our transparency and ethical stand in society." he continued.
This Year Eagle walked away with a host of coveted awards. Eagle was awarded number one in Sri Lanka in "Customer Relations" and was ranked "among the "Ten Best Corporate Citizens of Sri Lanka" for the third successive year. Both Awards were presented by the Ceylon Chamber of Commerce
Eagle was also recently ranked Asia's number 1 for CSR in the industry by Asian Insurance Review, in light of Eagle's policy of 'CSR without fanfare'
Policy, TravelSafe, which is also available online where one can literally get a travel policy online, at the click of a button.
To enhance customer relations Eagle initiates numerous value-addition for its customers. For example the bi-annual 'Life Magazine' is sent to a large number of premium customers, and is a tri-lingual magazine with a wide range of topics varying from health & fitness, and child development to interior décor. Eagle's 'Wingspread' a safety newsletter for corporate customers, highlights the latest safety tips etc. Eagle also conducts business seminars on topics such as positive-thinking and entrepreneurship to which customers are always welcome participants.
Eagle has also launched bancassurance products providing customers with an investment choice enabling them to invest where they want to, with a choice of four funds; this range is currently made available through Eagle's bancassurance partners NDB bank and Standard Chartered Bank.
With regard to CSR, Eagle pioneered and practiced CSR, long before it became the buzzword it is today. 1% of annual-profits of the previous 3 years are set aside for all its CSR endeavors. Eagle's CSR initiatives are designed to benefit all stakeholders; employees, customers and society. Being "ethical and socially responsible" is a fundamental core-value of the company, which Eagle champions ardently.
"CSR is part of the value-system which our corporate culture pivots on and is our way-of-life. It goes beyond business objectives to create a continuous impact on society." said Mr. Sooriyaarachchi. "It is the driving-force behind all our activities ensuring sincerity and absence of undue publicity vis-à-vis CSR expenditure, inspiring a value-system that uplifts our nation" he added
Eagle's grass-root, school development endeavours spanning over 12-years are devoid of media-hype, as is training of intermediary's staff and Eagle Sports Club activities such as blood donation campaigns and tsunami-relief-work. The Asia Insurance Review stated that "Eagle is a company with down-to-earth values which invests heavily in CSR but refuses to court undue press attention for the work."
Eagle isn't merely a commercial-establishment engaging in CSR, but an entity driving the nation forward through a value-system. Eagle's CSR-endeavors are designed to be relevant to each stage of a person's life-cycle, driving the nation forward as a whole.
Caring, the very essence of the Eagle brand is embodied in its tag-line "Come under our wing" and Eagle's innovative CSR initiatives and significant investments made to ensure long-term continuity, is a reflection of this caring.
Eagle's strategy on Corporate Social Responsibility is in line with Aviva's and commenting on Eagle's achievements Mr. Grant Barrans, the Chairman Eagle Insurance, stated "We are delighted with Eagle's most recent achievements in Corporate Social Responsibility. At Aviva, CSR is part of our core-values."
For CSR sans fanfare, Eagle recognized as Asia's number one - 10 August 2006
Eagle Insurance emerged as
the best Asian insurance company in CSR at the 10th
Asian Insurance Industry Awards 2006. The Asia Insurance
Industry Awards was held for the 10th consecutive
year at a glittering ceremony at the Empire Theatre,
Empire Hotel and Country Club in Brunei and was attended
by the biggest names in Asia’s Insurance Industry.
The panel of 22 judges were drawn from regulators
and industry leaders from the Asian and global markets.
The Editor-in-Chief of Asia Insurance Review in a
letter to Eagle Insurance states that the standards
and the response in terms of entries were so high
that the judges had a difficult task in evaluating
the winners.
The special issue of Asia Insurance Review states
that Eagle is a company with down-to-earth values
which invests heavily in CSR but refuses to court
undue press attention for the work.
“CSR is part of the value-system which our corporate
culture pivots on and is our way-of-life. It goes
beyond business objectives to create a continuous
impact on society.” said Mr. Deepal Sooriyaarachchi
– Managing Director, Eagle Insurance. “It
is the driving-force behind all our activities ensuring
sincerity and absence of undue publicity vis-à-vis
CSR expenditure, inspiring a value-system that uplifts
our nation” he added
Eagle CSR is not mere tactical image-enhancement.
No publicity was sought for the 3-month premium payment-holidays
for over 2000 tsunami affected policyholders. Eagle’s
grass-root, school development endeavours spanning
over 12-years are devoid of media-hype, as is training
of intermediary’s staff and Eagle Sports Club
activities such as blood donation campaigns and tsunami-relief-work.
“Eagle pioneered and practiced CSR, long before
it became the buzzword it is today. 1% of annual-profits
of the previous 3 years are set aside for all its
CSR endeavors.” said Mr. Sooriyaarachchi. “Eagle’s
CSR initiatives are designed to benefit all stakeholders;
employees, customers and society. Being “ethical
and socially responsible” is a fundamental core-value
of the company, which Eagle champions ardently.”
he continued.
Eagle isn’t merely a commercial-establishment
engaging in CSR, but an entity driving the nation
forward through a value-system.” stated Mr.
Amal Perera – Head of Marketing & Planning.
“Eagle’s CSR-endeavors are designed to
be relevant to each stage of a person’s life-cycle,
driving the nation forward as a whole. “he added.
•
Promoting early-childhood
intellectual development through Gurupubuduwa
seminars.
Encouraging educational excellence
through ‘Eagle Higher Educational Scholarships’.
•
Providing direction to positively
guide young adults by educating teenagers, parents
and teachers.
•
Developing adults by teaching positive-thinking
through seminars and sponsorships of TV &
Radio programmes.
•
Offering placement-opportunities
to university students.
•
Developing entrepreneurial skills.
•
Sponsoring “National Civilian
Bravery Awards”.
•
Recognizing excellence in arts
- “Eagle Excellence Awards”.
•
Fostering safety-in-the-workplace
– “National Safety Award”, (the
only national award evolved by an insurance company)
leading to corporate & national productivity.
"Caring, the very essence of the Eagle brand is embodied in its tag-line "Come under our wing" and Eagle's innovative CSR initiatives and significant investments made to ensure long-term continuity, is a reflection of this caring." continued Mr. Perera.
The company has been hailed as one of the "10 Best Corporate Citizens in Sri-Lanka" by the Ceylon Chamber of Commerce for two successive years, and was the only insurer to ever win this prestigious award. Eagle was also awarded first-runner-up for "Overall Best Corporate Governance Disclosure" as well as third-runner-up for "Overall Best Corporate Social Responsibility Reporting" by the Institute of Chartered Accountants of Sri-Lanka
"We are not satisfied with resting on our laurels, and together with the effort and commitment of every member of the Eagle Family, we will strive untiringly to continue delivering beyond-expectations for the well-being of the community and the nation." emphasized Amal Perera.
The following are some of the major CSR endeavors that Eagle has taken under its wing.
Zero Injuries and Blinding Firecracker-accidents in Children
Eagle launched a campaign on the careful use of fire-crackers during festive seasons in 1992, after, 41 children were injured and 4 went blind due to fire cracker accidents. Since then, Eagle's large multimedia campaigns and below-the-line activities during festive seasons, have reduced fire-cracker accidents in children to zero.
Spreading the Message of Safety
Eagle also creates awareness on home-accidents highlighting day-to-day perils using multimedia campaigns and through 1800 sales agents, who are fortified with the title "Safety Ambassadors" and equipped with "safety tool kits" comprising of brochures, CDs and illustrated children's books. They inculcate country-wide safety-awareness amongst children, teachers, parents and society at grass-root levels and beyond. Over 100,000 households have been reached and the number grows daily
1 Million Pilgrims - Zero Drowning
"Poson Safety" is a unique campaign initiated and sustained by Eagle for the past 12 years. It has been instrumental in the prevention of drowning during the Poson season, where approximately one million pilgrims journey to Anuradhapura. This project involves identifying hazardous bathing spots and ensuring that they are patrolled by life saving crews from the "National Life Saving Association - Sri Lanka Army and Police". As a result, consecutive Poson seasons have recorded a total absence of death with over 100 lives saved over the past ten years. This achievement won a commendation from the International Life Saving Federation.
A Safer Workplace
Eagle plays a crucial role in creating a safer workplace, through the "National Safety Awards", held once in two years since 1994, together with the Department of Labor and Employees' Trust Fund Board. This concept was evolved and sponsored by Eagle after identifying the need to enhance Industrial Safety in Sri Lanka. It has become the benchmark of organizational commitment towards an accident-free workplace,
Recognizing Educational Excellence
Eagle rewards Sri Lanka's most promising children with the annual "Eagle Higher Education Scholarships", for which the initial trust-fund of Rs.10 million, has increased to Rs. 34 million. The selection criterion is purely on merit and does not hinge upon the students' parents being policyholders. Since 1994, over 300 students who excelled in the Grade-5 Government Scholarship Examination, within each district of the country, received these scholarships. The benefits start from the commencement of A/Ls up to completion of the degree-course. Eagle also recognizes teachers and principals of award-winning students.
