The Insurance Regulatory Commission of Sri Lanka (IRCSL) has introduced an Optional Compensation Scheme (OCS) through licensed general insurance companies to provide compensation to third-party victims of motor vehicle accidents or their legal heirs.
The tender for the sale of the segregated life and general insurance businesses of state-owned Sri Lanka Insurance Corporation (SLIC) has attracted five bidders, four of which are local investors.
Five Ceylinco Life policyholder families have just won an all-expenses-paid holiday to Turkey, another five families a holiday in Malaysia and 150 families have been selected for a day's outing at the Pearl Bay theme park in Bandaragama at the grand draw of the 17th edition of the promotion.
The government-owned Sri Lanka Insurance Corporation (SLIC), which is the country's biggest insurer, has entered a new chapter with the legal segregation of its life and general insurance businesses, the company has announced.
A new directive that Sri Lankan non-life insurers remit 100% of motor insurance strike, riot, civil commotion and terrorism (SRCCT) premiums to state-owned National Insurance Trust Fund Board (NITF) should benefit NITF while the underwriting profitability of non-life insurers is likely to worsen, says Fitch Ratings.
The state-owned Sri Lanka Insurance Corporation (SLIC), the biggest composite insurer in the country, will be split into two entities, one relating to life insurance and the other to general insurance.
The Actuarial Association of Sri Lanka (AASL) is organising its third South Asian Actuarial Conference (SAAC 2023).
Fitch Ratings has affirmed the National Insurer Financial Strength (IFS) Ratings of several insurers and removed them from Rating Watch Negative (RWN). The outlook is 'Stable'.
The underwriting profitability of government-owned Sri Lanka Insurance Corporation (SLIC), the country's biggest composite insurer, is under pressure, says Fitch Ratings.
The Sri Lankan government's debt restructuring plan is likely to reduce investment and liquidity risks for domestic insurers, Fitch Ratings says.