Fitch Places Seven Sri Lankan Insurers on Rating Watch Negative

Fitch Ratings has placed the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers on Rating Watch Negative (RWN). The insurers are:

-National Insurance Trust Fund Board
-HNB Assurance PLC
-HNB General Insurance Limited
-People’s Insurance PLC
-Continental Insurance Lanka Limited
-Co-operative Insurance Company Limited
-Sanasa General Insurance Company Limited

Fitch has also downgraded Sri Lanka Insurance Corp’s IFS to ‘CC’; placing IFS, ‘AA(lka)’ National IFS on RWN.