Sri Lanka National Insurance Trust retains AAA rating

Standing left to right – Mr. Dinesh Jebamani (Chief Manager Liability Product Management and New Age Media – Seylan Bank), Mr.Sudesh Peiris (Senior Manager – Digital Banking Channels – Seylan Bank), Ms. S.Senevirathne (Representative of the Revenue Department – Western Province), Mr. Tilan Wijeyesekera (Deputy General Manager – Retail Banking – Seylan Bank) and Mr. Malik Wickremanayaka (Deputy General Manager – Operations – Seylan Bank)

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