News Non-Life12 Jun 2018

Sri Lanka:Singapore firm takes over broking business

12 Jun 2018

Finlays Colombo has entered into a binding agreement to dispose its insurance broking business to a Singaporean party.

Accordingly, Finlay Insurance Brokers, a wholly-owned subsidiary of Finlays Colombo, will be fully divested to IIRM Holdings, a Singapore-based investment company, reports Daily Mirror citing Finlays Colombo's latest annual report.

Finlays Colombo recently announced the appointment of Sanjiv Keerthiratne as the new CEO/MD at Finlays Insurance Brokers.

The sale is said to be part of a strategic divestment programme currently underway at Finlays Colombo so that the company can focus on its core tea business.

London-based Swire Group is the ultimate parent company of Finlays Colombo.


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