Sri Lanka
Insurance regulation in Sri Lanka 'developing with limited transparency': Fitch Ratings
Insurance regulation in Sri Lanka 'developing with limited transparency': Fitch Ratings
The country has one of the lowest insurance penetration rates in Asia.
Sri Lanka sets new insurance sales standards for mobile, line operators
Insurers must also disclose customer onboarding requirements.
HNB Assurance expected to boost profitability
Non-life premiums increased 14% in H1 2024.
Co-operative Insurance boosts governance, eyes profit
It also appointed a new CEO early this year to boost efforts.
People's Insurance invests heavily in fixed-income
Its combined ratio also showed mid-year recovery.
Continental Insurance’s health segment better than peers despite pressures
The segment contributed 32% of total GWP last year.
Profits of Sri Lankan insurers jump 35% YoY in Q1 2024
Its assets climbed 10.9% YoY.
Sri Lanka to tighten capital requirements for insurers
The sector heavily relies on investment income, which challenges profitability.
Economy to drive Sri Lankan insurance market, says central bank
In 2023, the sector contributed 0.8% to GDP, penetration rates remaining below 2%.
National Insurance Trust Fund Board’s gross premiums surge this year
However, Fitch Ratings sees risk-management weaknesses in the insurer.
Allianz Lanka’s new CEO shares 5 strategies for insurers to drive growth
The market is expected to climb at a CAGR of 8% which insurers need to take advantage of.
CGF’s underwriting performance to remain subdued: Fitch Ratings
The company incurred an underwriting loss of $358.4k (LKR107m) in 2023
GWP of Sri Lankan insurers witness 8.38% YoY in Q4’23
Claims incurred totalled Rs137b.
Allianz Insurance Lanka welcomes new CEO
Prashant Grover has over twenty years of experience in the financial services sector.
Sri Lanka's non-life insurers grapple with profitability under new premium directive: Fitch Ratings
NITF's failure to renew reinsurance cover for SRCCT and the non-renewal of retrocession cover pose risks to its capital position and earnings.
HNB General Insurance partners with tech company for management solution
It hopes to improve efficiency and accuracy through the Azentio ONEInsurance platform.
Union Assurance taps Senath Jayatilake as CEO
Judge Gomes was the previous CEO.
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