LOLC Insurance elevates leadership with strategic appointments

Kithsiri Gunawardena

Chandana L. Aluthgama

LOLC Insurance announced two significant leadership appointments aimed at driving sustainable growth, strengthening governance and enhancing operational excellence across its companies, LOLC Life Assurance Ltd and LOLC General Insurance PLC. 

Effective September 29, 2025, Chandana L. Aluthgama has been appointed as Executive Director and Principal Officer of LOLC Life Assurance Ltd and Director of LOLC General Insurance PLC, while Kithsiri Gunawardena has been appointed as Director of LOLC Life Assurance Ltd, further to his role as Chairman of LOLC General Insurance PLC. 

With over 33 years of experience in life and general insurance, Aluthgama brings extensive expertise in leadership, corporate governance and talent development. He has held senior positions at prominent organisations, including Eagle Insurance PLC (Zurich Financial Services Group), HNB Assurance PLC and HNB General Insurance Ltd. 

Prior to joining LOLC Insurance, he served as Group CEO of Sri Lanka Insurance Corporation Life Ltd and General Ltd, where he successfully led major initiatives including the statutory segregation of life and general insurance operations in 2024, business restructuring and the establishment of a performance driven culture. He is also the immediate past President of the Insurance Association of Sri Lanka.

He holds an MBA from the University of Colombo, a Bachelor of Commerce (Special) from the University of Kelaniya and is a Fellow and Chartered Manager of the Chartered Management Institute, UK as well as a Fellow of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF). 

Gunawardena brings over 35 years of legal, public sector and corporate experience and has been a member of the LOLC group since 2004. He has held senior positions in the public sector, including State Counsel at the Attorney General’s Department, Director Legal and Enforcement of the Securities and Exchange Commission, Director Legal and Enforcement of the Insurance Regulatory Commission of Sri Lanka and the first Director General of the Consumer Affairs Authority. 

He currently serves as Chairman of LOLC General Insurance PLC and Chief Operating Officer of LOLC Holdings PLC, while also holding board positions across local and international subsidiaries of LOLC in the leisure, financial services and plantation sectors.