Sri Lanka

The market is expected to climb at a CAGR of 8% which insurers need to take advantage of.

The company incurred an underwriting loss of $358.4k (LKR107m) in 2023

Claims incurred totalled Rs137b.

Prashant Grover has over twenty years of experience in the financial services sector.

NITF's failure to renew reinsurance cover for SRCCT and the non-renewal of retrocession cover pose risks to its capital position and earnings.

It hopes to improve efficiency and accuracy through the Azentio ONEInsurance platform.

Judge Gomes was the previous CEO.

The industry saw its total assets reach $3.1b during the quarter.

A weak financial performance outlook is still expected from Sri Lankan domestic insurers.

This is Asia’s first 4-peril parametric insurance.

Earnings are expected to be under pressure, and costs are higher due to currency devaluation.