Category: Insurance

June 13, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance says there is strong foreign interest centered around the Middle Eastern region for their 400 million rupee initial public offering that is opening on Monday. In the year to December 2007, the group posted 525 million rupees in profits and reported revenues of 5.2 billion rupees. […]

June 11, 2008 (PBO) “ The Sri Lanka unit of Allianz Insurance said Wednesday it has begun offering title insurance cover for property transactions by individuals and the corporate sector. “Property transactions in Sri Lanka can now have a title insurance cover to fall back on, in case something is wrong with the property’s title,” […]

June 05, 2008 (LBO) – The initial public offer of Janashakthi Insurance that is opening this month, the first in two years in the island, is a bold move that could enliven an otherwise slow market, company officials said. “We have taken a bold step in coming forward at this time,” Janashakthi Insurance managing director […]

June 03, 2008 (LBO) – An initial public offering of Janashakthi Insurance would open on June 16, the Colombo Stock Exchange said, making it the first initial public offering in two years. However, 30 percent revenue growth, beating the industry average in the early part of the decade, has slowed to 18 percent in 2006 […]

May 15, 2008 (LBO) – Allianz Insurance Lanka has launched a business unit to provide directors and officers (D&O) liability insurance to Sri Lanka’s private and public corporates. The insured are indemnified for defense costs and any legal claims, according to a statement by the company, a fully owned subsidiary of Munich headquartered conglomerate Allianz. […]

May 12, 2008 (LBO) – Sri Lanka’s Ceylinco Insurance is offering cover for outpatient services which would be made available through a network of healthcare centres around the island, officials said. The Ceylinco National Health Policy sold at a premium of 500 rupees a year allows policy holders to get medical consultation at a Ceylinco […]

May 08, 2008 (LBO) – Sri Lanka’s Eagle Insurance group March quarter net profit fell by half although revenue went up, according to the results sent to the Colombo stock exchange. Net profit for the first quarter ended March 31, 2008 fell by 53 percent to 15 million rupees, compared with the same period a […]

May 08, 2008 (LBO) – Sri Lanka’s HNB Assurance Ltd’s March quarter profits increased nine percent to 14.1 million rupees while revenue increased 40 percent with income from other activities doubling during the period, the firm’s un-audited accounts said. HNB Assurance, saw its revenue increase to 378.6 million rupees from 269.7 million, compared to the […]

May 06, 2008 (LBO) – Sri Lanka’s Eagle Insurance has upgraded its customer care call centre with a single hot line for easy access and motor related calls handled round-the-clock, the company said in a statement. “In case a policyholder meets with an accident he or she can contact the call centre any time of […]

April 26, 2008 (LBO) – Sri Lanka’s ABC Insurance Company says its premiums rose 300 percent to 129 million rupees in the year to March 2008, following the company’s drive to push insurance to rural areas especially among the fishing community. ABC Insurance Company which was established nearly three years ago saw its premiums from […]

April 23, 2008 (LBO) – Sri Lanka’s insurance watchdog said it had lifted a suspension of ABC Insurance after the firm complied with solvency rules. The Insurance Board of Sri Lanka said it had lifted a suspension of its registration after the firm had taken corrective measures to comply with general insurance solvency margin rules. […]

April 23, 2008 (LBO) – Sri Lanka’s Ceylinco Life is lunching a month long campaign in May to promote retirement planning, as knowledge about the process is poor and penetration is low, the company said in a statement. Ceylinco says despite an aging population, Sri Lanka’s penetration level of retirement planning is even lower than […]