MBSL Insurance Company


Board of Directors

Nimal Fernando


Nimal Fernando joined the Bank of Ceylon in 1986 after graduating from the University of Colombo in Mathematics. His 33 year banking career covers most of the key areas in the bank with three overseas stints, viz., BOC London from 1994 to 1995, BOC Karachi- Pakistan from 2001 to 2004 and again as the Chief Executive Officer of the Bank of Ceylon (UK) Ltd. for three years from 2012 to 2015. His experience spans to almost all the spheres in Banking. In his early career, he had been involved in branch banking in remote areas of Badulla, Kandy and Nuwara Eliya. Subsequently, he switched over to policy level at the Head Office especially in Product and Development Banking as well as Recovery. Before he was promoted and entrusted the responsibilities of Chief Risk Officer in 2016, on his return from the Bank of Ceylon (UK) Ltd. as Chief Executive Officer, he was In-Charge of the Western Province South, the largest zone of the bank’s branch network. Mr. Fernando had been a member of the Executive Management for seven years. He has been holding the responsibilities of the Chief Risk Officer at the Bank of Ceylon since 2016 until his retirement in August 2020.

He is an Associate Member of the Institute of Bankers of Sri Lanka and a member of Professional Bankers Association. He serves as Chairman of MBSL Insurance Company Limited (MBSLI), a subsidiary of MBSL.

Lalith Fernando

Managing Director / Chief Executive Officer

MSLIM, EDBA (Colombo), CII Award (UK), MCPM, Certified Professional Marketer – CPM (Asia), Practicing Marketer (SL)

Lalith brings excellence in Overall Operations to the Company with over 30 years’ expertise in the Insurance Industry. He is considered an expert in Marketing, Distribution and Operations specialized in both Life and General Insurance.

His wide spectrum of experience in Capitalife Assurance Limited as the Chief Operating Officer, Asian Alliance Insurance PLC, HNB Assurance PLC, Eagle Insurance PLC and Ceylinco Insurance PLC, along with his qualifications and excessive trainings he has received locally and internationally in UK, Japan, Dubai, Sweden and Malaysia will lay out a strong foundation to the Company.

Conferred as a Certified Professional Marketer by Asia Marketing Federation (AMF) and as a Practicing Marketer (SL) by SLIM. Lalith holds an Executive Diploma in Business Administration from the Faculty of Management & Finance, University of Colombo, Certified CSR Practitioner by the Faculty of Arts, University of Colombo. Further he is a Member of the Institute of Chartered Professional Managers and Member of the Sri Lanka Institute of Marketing. Lalith joined the Company in April 2019 as the Managing Director/Chief Executive Officer.

Dammika Hapuhinna


Dammika Hapuhinna is a Leasing and Banking professional with over 29 years of progressive experience in leasing & banking industries. He started his banking career at Seylan Bank PLC. In 2005 he moved to non-banking financial sector in the Kingdom of Saudi Arabia where he joined Saudi ORIX Leasing Company, the first specialized leasing company in Saudi Arabia and the first non-bank financial institution in the Kingdom.

He played a key role in promoting lease financing in the Kingdom of Saudi Arabia. He was also a pioneering member of the Nations Trust Banks In-Store Banking concept. He holds a Master of Business Administration from University of Wales and an Executive Diploma in Business Administration from University of Colombo.

He has held several leadership positions in leading finance companies in the Kingdom of Saudi Arabia. He was also the architect instrumental for setting up a new finance company from ground up as their Head of Operations.

With his experience in banking and finance companies, he has gained exposure and expertise in Retail banking, Credit Banking operations, Lease financing, Consumer Finance, Real Estate Finance, Leasing operations, Receivable management, Product development, Risk management & Consumer protection.

Jude Gamalath


Jude servers as a non executive Director of MBSL Insurance Company and is also the Chief Executive Officer (Act.) for Merchant Bank of Sri Lanka. He has closer to 20 years of experience and served as Head of Several Divisions of the company such as Marketing & Product Development, In-Charge of Region 2, Real Estate, Fixed Deposits & Savings.

He is a skilled marketing professional, with experience in multiple roles in sales and distribution, channel management, product Development, Brand Management and marketing communication. Jude holds a Master of Business Studies (MBS) from the University of Colombo and a Professional Postgraduate Diploma in Marketing from the Chartered Institute of Marketing UK.

Purna Kandanaarachchi


Purna serves as the Head of Finance of Merchant Bank of Sri Lanka. He counts over 19 years’ of experience in the fields of finance, auditing and accounting. He is an Associate member of The Institute of the Chartered Accountants of Sri Lanka. He also serves as a Non–Executive Director on the Boards of MBSL Insurance Company Limited, subsidiary of the Company and Mega Containers Limited, where the company holds an equity stake.

Sunil Fernando


Sunil is a well-established business professional possessing over 30 years of experience in auditing, book keeping, accounting and managing companies with a proven track record in achieving set objectives and goals and the ability to lead and perform in a highly challenging environment. He is a Fellow of International Association of Book-keepers - FIAB (UK).

Sunil is presently functioning as the Managing Director of WSR Fernando & Company (Pvt) Limited (A Transportation and Construction Company) and of WSR Shipping & Logistics (Pvt) Ltd. He has worked as an Accountant at Computer Information Systems (PTE) Limited during the period 1990 – 1995 and also functioned as a Director at SDC Trade Combine (Pvt) Limited.

He has been awarded with “Viyaparawedi Nipun Samaja Subasadhana Deshamanya” in 2011 (a title awarded at National Level by the Buddhist Chief Prelates of the three Chapters - Ven. Mahanayaka Theros) for the Entrepreneurship and for social activities performed for the benefit of the General Mass of the Country. He has also been awarded with “Vishvakeerthi Sri Janaranjana” in 2014 (This title was awarded by the Most Ven. Udugama Sri Buddharakkhitha, the chief prelate of Asgiriya chapter ) for social activities, Entrepreneurship and for Self Development, organized by the ‘Sri Lanka Daham Sisila Foundation’. Further, he received the “MASSCO-2015” Gold Award for the Best Performer in the field of Transport awarded by Lanka Mass Communicators Associates.

Date of incorporation

MBSL Insurance Company Limited is a Public Limited Liability Company incorporated on 24th September 2004 under the Companies Act No. 17 of 1982 in Sri Lanka. The Company was re-registered under the Companies Act No. 7 of 2007.

MBSL Insurance Company Limited

519, T.B. Jayah Mawatha,
Colombo 10.

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