Tag: Sri Lanka Motor Insurance Changes to Hit Non-Life Sector: Fitch Ratings

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, BBB(lka)/Stable) should benefit NITF while the underwriting profitability of non-life insurers is likely to worsen, says Fitch Ratings. However, the effect on non-life insurers’ profitability and […]