LRA upgrades Janashakthi Limited (JXG) to Investment Grade
Janashakthi Limited (JXG), the parent entity of the Janashakthi Group of Companies, announces a three-notch upgrade in its credit rating by Lanka Rating Agency …
Insurance
Janashakthi Group appoints Minette Perera & Vishnu Balachandran to Board of Directors
Janashakthi Group (JXG) has appointed Minette Perera and Vishnu Balachandran as Independent, Non-Executive Directors to the Company’s Board of …
Pan Asia Bank and Janashakthi Life partner, forging era of financial empowerment
As a testament to its continuous devotion to its customers' satisfaction, Pan Asia Bank, the Truly Sri Lankan Bank, has established a strategic partnership …
Fitch Withdraws Sri Lanka Insurance Corp’s Ratings on Reorganisation
Fitch Ratings has withdrawn Sri Lanka Insurance Corporation Limited's (SLIC) 'CC' Insurer Financial Strength (IFS) Rating on Rating Watch Negative and 'A(lka)' …
Sri Lanka’s Motor Insurance Changes to Hit Non-Life Sector: Fitch Ratings
A new directive that Sri Lankan non-life insurers remit 100% of motor insurance strike, riot, civil commotion and terrorism (SRCCT) premiums to state-owned …
Janashakthi Group announces transfer of 25% of First Capital Holdings shares to Janashakthi Insurance
Janashakthi Group (JXG), a leading conglomerate in financial services with a presence in the Insurance, Finance, and Investment sectors, announces a strategic …
IIRM Lanka Insurance Brokers Pvt Ltd achieves remarkable market share growth locally
IIRM Lanka Insurance Brokers Private Limited proudly announces its outstanding achievement in the Sri Lankan insurance market, securing an impressive market …
Beyond Protection: How Motor Insurance Boosts Industries and the Economy
Awareness by the Insurance Association of Sri Lanka – IASL Traffic congestion, capacity constraints, and sweltering heat make traveling in public transport a …
Sri Lanka’s Debt Restructuring to Ease Insurers’ Investment, Liquidity Pressures: Fitch
The Sri Lankan government's debt restructuring plan is likely to reduce investment and liquidity risks for domestic insurers, Fitch Ratings says. Fitch expects …
Ceylinco Life marks milestone May with assets topping Rs 200bn & equity crossing Rs 50bn
Sri Lanka’s life insurance market leader Ceylinco Life achieved several noteworthy milestones in financial performance in May this year, emphatically …
Union Assurance records total net revenue growth of 33-pct to Rs.6.95Bn in third quarter of 2022
Union Assurance, Sri Lanka’s trailblazing Life Insurer, achieved impressive financial growth in Q3 2022 despite challenging market conditions. Union …
Fairfirst Insurance introduces industry’s first Comprehensive Pedal Cycle Insurance Cover
Keeping up with the evolving trends in the external environment, Fairfirst recently introduced “Pedal Cycle Insurance” as another industry-first insurance …
Losses from SL riots manageable for insurers; gross losses to exceed LKR1bn: Fitch Ratings
Sri Lanka’s state-owned National Insurance Trust Fund Board’s (NITF, A+(lka)/Rating Watch Negative) Strike, Riot, Civil Commotion and Terrorism (SRCCT) …
Fitch Places Seven Sri Lankan Insurers on Rating Watch Negative
Fitch Ratings has placed the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers on Rating Watch Negative (RWN). The insurers are: …
Co-operative Insurance opens Initial Public Offering
Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th …
LOLC General Insurance Limited IPO oversubscribed on opening day
The Initial Public Offering (IPO) of LOLC General Insurance Limited, through an Offer for Sale of 120,000,000 Ordinary Voting Shares at a price of Rs. 7.90 per …
Sri Lanka’s budget proposals weigh on insurers’ near-term earnings:Fitch
The Sri Lankan government’s proposal to introduce new one-off as well as recurring taxes on companies will likely constrain the near-term profitability of …
Interview : A closer look at Bancassurance with Vindya Cooray
Bancassurance is a relatively novel concept in the financial services industry of Sri Lanka. It enables consumers to fulfill both financial needs and insurance …
Co-Operative Insurance announces upcoming IPO to cap off commanding annual performance
Leading Sri Lankan insurer Co-Operative Insurance, recently announced their plans to go for its first Initial Public Offering (IPO) in 2021 following a …
Rising interest rates; a lifeline for life insurers: First Capital Research
Life Insurers are expected to benefit from rising interest rates due to the higher investment returns as asset allocation in Life Insurance is skewed towards …