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Monday June 3rd, 2024
Insurance

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

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...

July 27, 2020 3 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 ...

Sri Lanka insurance premiums growth slows down to 9.5-pct in 2018

ECONOMYNEXT - Sri Lanka's insurance industry grew 9.5 percent from a year earlier to 175.7 billion rupees in gross writt...

April 4, 2019 2 min read

Sri Lanka car taxes to slow growth in insurance

Sri Lanka's insurance sector will see slower growth due to higher taxes slapped on cars in a budget for 2019, Fitch Rati...

March 22, 2019 4 min read

Leapfrog group buys Sri Lanka Soflogic Life Insurance stake from FMO

A 19-percent stake in Sri Lanka's Softlogic Life Insurance has been sold by the Netherlands-based FMO to the Leapfrog In...

December 19, 2018 1 min read

Big stake sold in Sri Lanka’s Softlogic Insurance for Rs2.18bn

ECONOMYNEXT – A big stake in Sri Lanka’s Softlogic Life Insurance changed hands on the Colombo bourse Wedn...

December 19, 2018 1 min read

Fitch downgrades Sri Lanka Insurance Corp to IFS 'B'

ECONOMYNEXT – Fitch Ratings said it has downgraded the Insurer Financial Strength (IFS) rating of Sri Lanka Insur...

December 5, 2018 2 min read

Sri Lanka's AIA, Sampath Bank partnership for insurance premium payments

ECONOMYNEXT - AIA Insurance Lanka has entered into a partnership with Sampath Bank to enable customers make insurance pr...

November 7, 2018 1 min read

Sri Lanka Co-operative Insurance Company gets BBB+(lka) rating: Fitch

ECONOMYYNEXT - Fitch Ratings has assigned Sri Lanka's Co-operative Insurance Company a BBB+(lka) rating with a stable ou...

September 6, 2018 3 min read

Fitch affirms AA-(lka) credit rating on Sri Lanka's only reinsurer NITF

ECONOMYYNEXT - Fitch Ratings said it has maintained Sri Lanka's National Insurance Trust Fund at AA-(lka) with a stable ...

September 6, 2018 4 min read

Sri Lanka’s insurance regulator to share information on money laundering with FIU

ECONOMYNEXT – The Insurance Regulatory Commission of Sri Lanka (IRCSL) is to share information on money launderin...

August 27, 2018 2 min read

Sri Lanka’s HNB Assurance June profits up 4-pct

Profits at Sri Lanka's HNB Assurance Plc rose 4 percent from a year earlier to to 106.3 million rupees in the June 2018 ...

August 15, 2018 2 min read
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Sri Lanka's Janashakthi Insurance June net flat

Profits at Sri Lanka's Janashakthi Insurance fell 1 percent from a year earlier to 133.9 million rupees in the June 2018...

August 14, 2018 2 min read

Sri Lanka's MBSL Insurance to get Rs1.2bn capital injection

Sri Lanka's Merchant Bank of Sri Lanka and Finance PLC said it will inject 1.2 billion rupees in to an insurance unit, w...

July 20, 2018 2 min read

Sri Lanka Insurance Corp rating weakened by hotel, gas investments

Fitch Ratings said it has affirmed Sri Lanka Insurance Corporation's AA+(lka) rating on its strong domestic business pro...

July 9, 2018 4 min read

Sri Lanka’s Ceylinco expands distribution as foreign competition hots up

ECONOMYNEXT - Sri Lanka’s Ceylinco Insurance PLC will rely on the expansion of its branch network in rural areas ...

June 26, 2018 3 min read

Tax hike to trim profits of Sri Lankan life insurers: Fitch

ECONOMYNEXT – Higher taxes are likely to reduce profits of Sri Lankan life insurance companies, Fitch Ratings sai...

June 6, 2018 2 min read

Sri Lanka's People's Insurance March 2018 net profit edges lower

Sri Lanka’s People’s Insurance said net profit fell 2 percent from a year ago to 211.2 million rupees in t...

May 2, 2018 1 min read

Jude Fernando made Janashakthi Life Chief Executive

Sri Lanka's Janashakthi Life said Jude Fernando has been appointed Chief Executive Officer with effect from 01 May, 2018...

May 1, 2018 2 min read

Janashakthi share buyback pending approval: Sri Lanka regulator

Sri Lanka's insurance regulator has said that a 11 billion rupee share buyback from Janashakthi Insurance has not been a...

February 28, 2018 1 min read

Allianz wraps up Janashakthi buy; says policies to continue

Allianz, a German-based insurer said it had completed an acquisition of Janashakthi General Insurance with regulators gi...

February 26, 2018 1 min read

Sri Lanka's Janashakthi Insurance net down 27-pct in Dec, Rs11bn buyback

Profits at Sri Lanka's Janashakthi Insurance, from life and general businesses, fell 27 percent to 623 million rupees in...

February 26, 2018 1 min read