Category: Insurance

Dec 19, 2007 (LBO) – Sri Lanka should introduce a compulsory deposit insurance scheme to strengthen the banking system and provide a public safety net, the International Monetary Fund has said. “The existing voluntary scheme is not used, and the fact that the one bank to have failed in the past few decades had been […]

Dec 18, 2007 (LBO) – Fitch Ratings has lifted the outlooks on the AA-(lka) national insurer financial strength rating and A+(lka) credit rating of Sri Lanka Insurance Corporation (SLIC) to positive from stable. “The Positive Outlooks reflect SLIC’s progress in reforming the company since privatisation in 2003,” the rating agency said. “Fitch believes that the […]

Dec 18, 2007 (LBO) – Fitch Ratings Sri Lanka has given HNB Assurance a national insurer financial strength rating of ‘A(lka)’ and a national long-term rating of ‘A-(lka)’ with stable outlooks. HNB Assurance is 60 percent-owned by Hatton National Bank Ltd (HNB), the second-largest private bank in Sri Lanka, rated ‘AA-‘. Fitch says HNB Assurance’s […]

Nov 15, 2007 (LBO) – Sri Lanka’s Union Assurance said net profit for the September quarter shot up 107 percent year-on-year to 29.6 million rupees. . General and life insurance premiums for the quarter grew by 17 percent to 1.1 billon rupees from 971 million rupees in 2006, according to interim results announced by the […]