Sri Lanka’ AIA Insurance unit discloses values ahead of split

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

Mar 05, 2014 (LBO) – Sri Lanka’s AIA Insurance Lanka Plc said it had valued its general insurance business ahead of a split of life and non-life divisions under a regulatory requirement in the third quarter of 2014. AIA Insurance Lanka said it was using its “best and reasonable endeavors to brief shareholders of a possible value” at which a transfer may be made.

The firm said at December 31, 2013 its general insurance business had a net asset value of 1.89 billion rupees.

It was forecasting the value “not to exceed” 2.4 billion rupees, the firm said in a stock exchange filing.