Magazine Table of Contents
Sri Lanka is growing strongly with a 6.5% economic growth rate for 2015, two percentage points above 2014. Riding on this wave, the insurance industry is adjusting to the spate of regulatory changes over the past few years including RBC and segregation. It is expected that the market will settle down by early 2017. The regulator is already calling for sector to develop new products to meet the growing and diverse needs of the
people and business.
Mrs Indrani Sugathadasa, Chairperson, Insurance Board of Sri Lanka (IBSL), is on a mission to change the functioning of the insurance industry for which a number of regulatory changes have been implemented over the past year. In an exclusive interview with Asia Insurance Review, she speaks of the challenges facing the industry in implementing the changes and the future of the insurance industry in Sri Lanka.
By Jimmy John
The implementation of the risk-based capital regime, increase in capital requirements and compulsory public listings in the past one year have resulted in the slower growth of the insurance industry in Sri Lanka. Seen to be in a transition phase, the sector is expected to rebound in 2016 with the government's thrust on development and growth.
By Jimmy John
By Ms Diluka Rodrigo, Partner at Julius & Creasy