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Friday May 24th, 2024
Insurance

Sri Lanka insurers to be hit by directive to remit all riot, terrorism income to state re-insurer

Segment generally profitable in recent years due to relatively low claim incidence, though there were claims in 2022

January 31, 2024 4 min read

Sri Lanka Insurance Corporation life and general business split

Two subsidiaries, Sri Lanka Insurance Corporation Life Limited and Sri Lanka Insurance Corporation General Limited

December 19, 2023 1 min read

People's Insurance says tops listed general insurers in pre-tax profits

The firm also had the best combined ratio, the statement said.

December 14, 2023 1 min read

Sri Lanka DDR plan reduces risks of insurers: Fitch

Insurers are already under rating watch

July 24, 2023 3 min read
Sri Lanka's insurance losses from anti-Rajapaksa riots to top billion rupees: Fitch

We believe gross losses from the riots are likely to exceed LKR1 billion

Sri Lanka Insurance Corporation downgraded to CC by Fitch amid broken soft-peg

Fitch believes counterparty risk of SLIC's foreign-currency assets have risen

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

Budget proposed turnover taxes and super gains taxes

November 25, 2021 4 min read

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

New super gains tax to reduce profits

November 25, 2021 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 ...

March 19, 2021 2 min read
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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...

February 18, 2021 3 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...

February 17, 2021 2 min read

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...

January 23, 2021 6 min read

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...

January 22, 2021 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...

January 8, 2021 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...

December 16, 2020 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...

December 9, 2020 5 min read
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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...

September 15, 2020 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...

September 3, 2020 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
July 27, 2020 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...

July 23, 2020 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...

June 21, 2020 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...

May 15, 2020 3 min read

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...

May 3, 2020 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...

March 29, 2020 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...

March 26, 2020 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...

February 28, 2020 1 min read
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