Sri Lanka National Insurance Trust retains AAA rating

Ishara S. Kodikara | AFP | Getty Images Sri Lanka Prime Minister Ranil Wickremesinghe, center, speaks to supporters at the prime minister's official residence in Colombo on December 16, 2018, after he was reappointed as prime minister by Sri Lanka's president, the same man who fired him from the job nearly two months ago.

Dec 01, 2011 (LBO) – RAM Ratings Lanka has confirmed National Insurance Trust Fund’s (NITF) long- and short- term claims-paying ability ratings at AAA and P1, with the long-term rating having a stable outlook. “NITF’s ratings reflect its status as a statutory body of the government of Sri Lanka and the Fund’s systemic importance as the sole provider of health-insurance coverage to government servants and reinsurance,” a statement said.

“The Fund’s healthy underwriting performance, good liquidity and strong capitalisation lend further support to its ratings.”

The full ratings report follows:

RAM Ratings Lanka has reaffirmed National Insurance Trust Fund’s (NITF or the Fund) long- and short- term claims-paying ability ratings, at a respective AAA and P1; the long-term rating has a stable outlook. NITF’s ratings reflect its status as a statutory body of the Government of Sri Lanka (GOSL or the State) and the Fund’s systemic importance as the sole provider of health-insurance coverage to government servants (known as Agrahara); Strike, Riot and Civil Commotion and Terrorism cover (SRCC & TR), and reinsurance in Sri Lanka. The Fund’s healthy underwriting per