Category: Insurance
Changing weather patterns raise long-term risks for insurers: Fitch
Sep 12, 2017 (LBO) – Sri Lanka’s highly competitive non-life sector needs more rigorous pricing and assessment as changing weather patterns have increased the frequency and severity of errant rainfall, raising long-term risks for insurers, Fitch Ratings said. The rating agency said in a statement that most Sri Lankan non-life insurers should be able to […]
Sri Lanka to provide health insurance for school children
Aug 24, 2017 (LB0) – Sri Lanka’s cabinet of ministers has approved health insurance cover for school children, a statement said. Budget 2017 proposed to provide a free insurance cover of 200,000 rupees for 4.buy ivermectin online buy ivermectin online no prescription 5 million school children in the age of 5-19 years and allocated 2,700 […]
Janashakthi records 11-pct GWP growth in first six months
Aug 17, 2017 (LBO) – Janashakthi Insurance PLC (Janashakthi) registered consolidated Gross Written Premium (GWP) of Rs. 7.22 billion for the six months period ended 30th June 2017, with a year-on-year growth of 11 percent. This was backed by strong growth in the Non-Life or General Insurance segment with a GWP of Rs. 5.858 billion. […]
‘s National Ratings
(PRESS RELEASE) – Fitch Ratings has upgraded Sri Lanka Insurance Corporation Limited’s (SLIC) National Insurer Financial Strength (IFS) rating and National Long-Term Rating to ‘AA+(lka)’ from ‘AA(lka)’ and assigned a Stable Outlook. The agency has also affirmed SLIC’s international IFS rating at ‘B+’ with a Stable Outlook. KEY RATING DRIVERS The one-notch upgrade of SLIC’s […]
Ceylinco Life’s 6-month PBT up 64-pct to Rs1.6Bnl
(PRESS RELEASE) – Ceylinco Life has posted profit before tax of Rs 1.628 billion for the six months ending 30th June 2017, recording noteworthy growth of 64 per cent over the corresponding period of last year. Building on a solid first quarter, the company generated Rs 7.418 billion in Gross Written Premium at the end […]
Amãna Takaful Group bounces back from losses to Rs93mn profit
93 Million at the half year ending June 2017. This compares to a loss of Rs. 42 Million over the same period in 2016. The Group’s Gross Written Premium (GWP) of Rs. 1.93 Billion is a 3% upside over 2016. A combination of factors contributed to this achievement. Investment income improved significantly to Rs. 220.27 […]
Ceylinco Life Fund crosses Rs80 bln mark
(PRESS RELEASE) The Life Fund of Ceylinco Life crossed Rs 80 billion in May 2017, making it the fastest-growing Life Fund in the local industry, the life insurance market leader has announced. The company said this milestone was achieved in a little more than 29 years of operation, a feat as yet unmatched in Sri […]
Janashakthi Offers Free Breakdown Assistance to All Vehicle Owners Affected by Floods
Expressing its solidarity with all fellow Sri Lankans affected by the recent adverse weather conditions, Janashakthi General Insurance Limited announced that Janashakthi Full Option will be carrying out a free breakdown assistance service across areas affected by the floods. online pharmacy buy abilify with best prices today in the USA online pharmacy buy cymbalta with […]
Sri Lanka reinsures natural disasters with Renaissance Singapore
May 31, 2017 (LBO) – Sri Lanka has selected Renaissance Reinsurance Singapore as the lead reinsurer of the national natural disaster and emergency relief insurance scheme for the year 2017/18. This cover was introduced last year for natural disasters covering the whole country, and payment of claims have been expanded to include a range of […]
Janashakthi records double digit growth in premiums in Q1 2017
Janashakthi Insurance PLC (Janashakthi) reported a 14% Year on Year (YoY) growth in consolidated Gross Written Premium (GWP) which stood at Rs.3.789 billion for the three month period ended 31st March 2017, with Life and Non-Life businesses registering a GWP growth of 16% and 14% respectively. The Insurer further recorded a consolidated Profit After Tax […]
Fairfax consolidates Sri Lanka insurance operations
Mar 20, 2017 (LBO) – Fairfax Financial Holdings Limited (Fairfax) announced that it has successfully completed the amalgamation of Fairfirst Insurance Limited (Fairfirst) and Union Assurance General Limited (UAG). The amalgamated entity will operate as Fairfirst Insurance Limited with effect from 28th February 2017. Rights and obligations arising from all insurance policies issued by Union […]
‘s national insurance scheme
Feb 15, 2017 (LBO) – Sri Lanka has taken a step forward in its policy making by introducing a national insurance scheme, the World Food Program said. online pharmacy buy singulair no prescription pharmacy Executive Director of World Food Program Ertharin Cousin said that the WFP can provide technical assistance to deal with natural disasters such as […]