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Friday January 28th, 2022
Insurance

Sri Lanka budget new taxes to hurt insurer profits, premiums to go up: Fitch

Budget proposed turnover taxes and super gains taxes

4 min read

Sri Lanka Insurance 'CCC+' rating confirmed, new Grand Hyatt investment to weaken RBC

New super gains tax to reduce profits

4 min read

Sri Lanka failed finance company depositors to Rs9.8bn extra after insurance increased

Depositors of failed Sri Lanka finance companies will get 9.8 billion rupee more with the ceiling on deposits qualified ...

4 min read

Sri Lanka stocks extend gains rising 1.9-pct

Sri Lanka stocks gained 1.95 percent on Thursday continuing for the second day, pushed up by LOLC Holdings, Brown Invest...

4 min read

Sri Lanka insurer asset risk rise due to sovereign downgrade: Fitch

Asset risk of Sri Lanka insurers, who have around 71 percent of their investments in state or state connected investment...

Sri Lanka Insurance, NITF local ratings cut two levels after sovereign downgrade

Fitch Ratings has lowered the local Insurer Financial Strength (IFS) ratings of state-run Sri Lanka Insurance to 'AA(lka...

Sri Lanka's People's Insurance to provide Covid-19 cover for tourists

Sri Lanka's People's Insurance will provide a 12 dollar Covid-19 insurance policy for tourists visiting the island under...

2 min read

Sri Lanka medical insurance for family members of Buddhist monks

State-run Sri Lanka Insurance has started a medical insurance scheme for family members of Buddhist monks, which will pr...

1 min read

Sri Lanka's Union Assurance starts online life insurance app, offers Covid-19 cover

Sri Lanka's Union Assurance, a unit of John Keells Holdings said it had started online platform which makes it easy to p...

2 min read

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Fitch downgrades Sri Lanka Insurance to CCC+ on sovereign rating cut

Fitch Ratings has downgraded state-run Sri Lanka Insurance Corporations' Insurer Financial Strength rating to 'CCC+'from...

5 min read

Sri Lanka insurance premiums to fall amid import controls as new business sought: Fitch

Sri Lanka's general insurance premiums may fall as motor business stalls amid import controls and insurers seek new area...

5 min read

Sri Lanka's Softlogic borrows US$15mn from Norway, Finland, for expansion

Sri Lanka's Softlogic Life Insurance said it had signed a deal to get 15 million dollars as subordinated debt from Finni...

2 min read

Sri Lanka's AIA Insurance strongly capitalized amid Covid-19

Sri Lanka's AIA Insurance is strongly capitalized above the industry, official data shows, with officials saying its pru...

Devan Daniel

3 min read

Sri Lanka NITF re-insurance deal goes to Everest Re

A 985 million rupee re-insurance deal of state-run National Insurance Trust Fund for for 18 months through 2020/2021 had...

1 min read

Sri Lanka insurance watchdog appoints Dutch actuarial consultant

Sri Lanka's insurance regulator has appointed a Dutch consultant as part of a World Bank funded project to modernize the...

1 min read

Sri Lanka insurers escape Covid mortality but hit by central bank fallout

Sri Lanka's insurers have so far not been hit by Coronavirus mortality or healthcare costs unlike other countries but i...

3 min read

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US Dollar 202.0000 201.5882
UK Pound 271.5789 272.2486
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Aus Dollar 143.0261 144.4178
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Sri Lanka Insurance rating downgraded to 'B', outlook negative: Fitch

Fitch Ratings has downgraded the insurer rating of state-run Sri Lanka Insurance Corporation Limited to 'B' from 'B+' wi...

6 min read

Sri Lanka's Arpico Insurance says medical and life cover extended to Coronavirus

Arpico Insurance said its strong re-insurance allowed itto make the decision which was backed their chairman Sena Yaddeh...

1 min read

Central Bank of Sri Lanka, banks, Treasury, insurers essential services in Coronavirus curfew

Sri Lanka's President Gotabaya has made Central Bank of Sri Lanka, commercial banks, insurances services and the Treasur...

1 min read

Sri Lanka's Ceylinco Insurance profits fall in Dec on life insurance transfers

Sri Lanka's Ceylinco Insurance said net profits for the December quarter fell 15 percent to 3.09 billion rupees from a y...

1 min read

'Suraksha' student insurance scheme to continue

The government will continue the ‘Suraksha’ student insurance scheme initiated by the previous government.

Imesh Ranasinghe

1 min read

Milford Ceylon buys stake in Sri Lanka's Softlogic Life from DEG

Leapfrog Investments a US-based private equity firm has doubled its holding in Sri Lanka's Softlogic Life Insurance to ...

1 min read

Sri Lanka's NITF outlook cut to negative, AA-(lka) rating confirmed

The outlook of Sri Lanka's National Insurance Trust Fund, a fully state-owned insurer which also re-insures some domesti...

3 min read

Sri Lanka insurer regulatory capital drops with new accounting rules

Risk -based capitalization (RBC) of Sri Lanka's insurance companies have dropped after the adoption of a new accounting ...

3 min read

Sri Lanka’s Softlogic in Rs762mn Sept quarter loss

Sri Lanka’s Softlogic Holdings made a loss of 762 million rupees in the September 2019 quarter compared with profits o...

2 min read

Sri Lanka’s Ceylinco Insurance Sept net up 159-pct

Sri Lanka's Ceylinco Insurance net profits shot up 159 percent to 1.7 billion rupees in the September 2019 quarter from ...

2 min read

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