Opinion: Insurance industry looks at Bionic Insuring in a ‘new normal’
By Chilman Jain, Principal, BCG – Prateek Roongta, Managing Director and Partner, BCG – Pranay Mehrotra, Managing Director and Senior Partner, BCG …
Insurance
Transformation of distribution model: How insurance industry needs to prepare for ‘Next Normal’
By Chula Hettiarachchi Across different industries and geographies, COVID-19 has changed the ways people engage with one another. Numerous health …
Ceylinco Life records income of Rs 36.98 billion in 2020
Ceylinco Life has achieved consolidated income of Rs 36.98 billion for FY 2020, demonstrating the Company’s ability to grow business volumes and investment …
Softlogic Life grew 25-pct in 2020 to Rs.15.6Bn; PAT Rs.1.5Bn
Softlogic Life announced that despite all the difficulties associated with a thoroughly disrupted COVID year 2020, the Company grew revenues to record Gross …
Investment risks rise for Sri Lankan insurers; limited impact on regulatory capital: Fitch
Asset risk at Sri Lankan insurers has increased due to the sovereign’s weaker credit profile and the consequent lowering of national ratings of some …
Union Assurance awarded for excellence in integrated reporting for 2020
Reaffirming its commitment to the value of transparency, accountability and integrity while maintaining an exceptional financial track record, Union Assurance …
People’s Insurance signs deal with SL Tourism as sole insurance provider for inbound tourists
As Sri Lanka opens its doors to the world once more, Sri Lanka Tourism has implemented several measures to ensure that the island getaway is as safe as …
Fitch revises two Sri Lankan insurers’ National IFS Ratings
Fitch Ratings has revised the National Insurance Financial Strength Ratings (IFS) of two Sri Lankan insurers following the recalibration of the agency’s …
Union Assurance records highest MDRT qualifiers in Sri Lanka
Union Assurance makes history with an all-new record of Million Dollar Round Table (MDRT) qualifiers to achieve #1 position in Sri Lanka. With 172 …
Union Assurance hosts virtual gala for annual awards
Union Assurance takes digital disruption to the next level as it felicitated top achievers of the Agency and Bancassurance sales force at a glittering Virtual …
ICRA Lanka re-affirms ratings of Janashakthi PLC
ICRA Lanka Limited has reaffirmed the issuer rating of [SL]BBB- (pronounced SL triple B minus) with Negative outlook for Janashakthi PLC (JPLC or the company). …
Union Assurance disrupts the future of life insurance with clicklife
Union Assurance PLC, a John Keells Company announces the launch of Clicklife, a turnkey product that offers protection plans in a secure, streamlined, and …
Fitch downgrades Sri Lanka Insurance’s IFS to ‘CCC+’ on sovereign downgrade
Dec 09, 2020 (LBO) – Fitch Ratings has downgraded Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength (IFS) Rating to …
Multiple wins for Union Assurance at Sri Lanka leadership awards 2020
Union Assurance clinched multiple awards including Best Brand and Sustainable Marketing Excellence at the Sri Lanka Leadership Awards, as well as Best Employer …
Ceylinco Life’s 9-month income up 14-pct to Rs. 26Bn
Sri Lanka’s life insurance market leader Ceylinco Life has posted consolidated income of Rs. 26 billion for the nine months ending 30 September, achieving …
Competition in Sri Lanka non-life insurance sector to rise as premiums fall
Sep 15, 2020 (LBO) – Price competition among non-life insurers in Sri Lanka is likely to intensify as a ban on auto imports and an economic downturn …
USD 30Mn invested towards Softlogic Life’s growth by Finnfund, NorFund & Munich Re
Softlogic Life Insurance PLC announced the inking of landmark deals with Development Financial Institutions; Finnish Fund for Industrial Cooperation Ltd – …
Ceylinco Life reports 6-month income of Rs 17.1 billion
Aug 12, 2020 (LBO) – Ceylinco Life has reported gross income of Rs 17.1 billion for the first half of 2020, an improvement of 14.9 per cent over the …
Fitch revises outlooks of HNB Assurance, HNB General Insurance to stable
Jun 19, 2020 (LBO) – Fitch Ratings has revised the rating Outlooks of Sri Lanka-based life insurer HNB Assurance PLC (HNBA) and its fully owned non-life …
Opinion: Is life insurance an absolute necessity?
By Indu Attygala The global life insurance industry is estimated to have grown by around 3% in the past years. Much of this growth has been led by the robust …