The gross premiums of Sri Lanka-based National Insurance Trust Fund Board's (NITF) are expected to surge this year due to a recent directive requiring primary insurers to remit 100% of motor strikes, riots, civil commotion and terrorism (SRCCT) premiums to NITF, up from the previous 12%, says Fitch Ratings.
AIA's involvement in the safety programme of the annual Poson festival resulted in zero fatalities and the rescue of six lives.
State-owned Sri Lanka Insurance Life (SLICL), has declared the highest ever bonus in the Sri Lankan industry to its policyholders, amounting to SLR11.2bn($36m) for the year 2023.
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).