An Echelon Media Company
Monday June 3rd, 2024
Insurance

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 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...

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'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
Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 305.1018 305.3339
UK Pound 386.9523 387.2371
Euro 330.8712 332.1141
Aus Dollar 201.0018 201.4980
Yen 2.0266 2.0278
Source: Central Bank/Indicative
Latest Last
Indian Rupee 3.6453 3.5932
Korea Won 0.2342 0.2292
Oman Rial 780.3569 769.4973
Saudi Riyal 80.1114 78.9849
UAE Dirham 81.7952 80.6569
Source: Central Bank/Indicative
pts %
S&P SL20 2,573.80 1.00%
CSE All Share 9,073.41 0.65%
Turnover Rs million 1,591,766,524.95 1,029,335,694.32
Source: CSE
Latest Last
3-m bill 21.72 21.79
6-m bill 19.55 20.31
12-m bill 17.72 19.28
5-yr bond 21.00 22.53
8-yr bond 19.42 20.55
Source: Central Bank/Indicative
today yesterday
Overnight Money 13.93 14.00
Gilt Repo 13.50 14.00
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka’s People’s Insurance Dec quarter net profit down 10-pct

ECONOMYNEXT – Sri Lanka’s People’s Insurance said net profit fell 10% to Rs185 million in the Decem...

February 20, 2018 1 min read

Allianz to sell-back Sri Lanka land to Janashakthi

Janashakthi General Insurance, which is to be controlled by Germany, Munich based Allianz after a 16.4 billion rupee dea...

February 5, 2018 1 min read

Allianz boosts Sri Lanka general insurance share to 20-pct with acquisition

Allianz, a Munich, Germany based insurer said it would become the second largest player in the non-life business in Sri ...

February 2, 2018 2 min read

Sri Lanka's Janashakthi General sold to Allianz for US107mn

Sri Lanka's Janashakthi Insurance Plc said its general insurance unit will be sold to Allianz SE, a Munich based insurer...

February 2, 2018 1 min read

Sri Lanka's NITF re-insures rising crop risk with Swiss Re

Sri Lanka's state-run National Insurance Trust Fund is re-insuring its agricultural cover amid rising claims.

December 22, 2017 1 min read

Swiss Re, J.B. Boda win Sri Lanka agri-insurance deal

ECONOMYNEXT – Sri Lanka has chosen the Singapore unit of Swiss insurance group Swiss Re and J.B. Boda & Co, a rei...

December 22, 2017 1 min read

Sri Lanka’s Janashakthi Insurance net profit down in Sept quarter

ECONOMYNEXT – Sri Lanka’s Janashakthi Insurance said net profit fell 2.5% to Rs155 million in the Septembe...

November 16, 2017 3 min read

Sri Lanka to provide crop insurance for disasters with tax-payer subsidy

Sri Lanka will start a crop insurance scheme for farmers with part of the premium being paid by tax-payers, amounting to...

November 12, 2017 1 min read

Sri Lanka to provide agri-insurance with NITF

Sri Lanka's state-run National Insurance Trust Fund will prepare a plan to insure key agricultural crops up to 40,000 ru...

September 28, 2017 1 min read

Sri Lanka insurance premiums to rise after frequent floods; NITF hit: Fitch

Sri Lanka's re-insurance premiums on flood cover is likely to rise after a spate of unusual rainfall and insurers has to...

September 13, 2017 5 min read