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Sri Lanka tag returned 44 results

  • Sri Lanka: Travel insurance to drive tourism after bombings

    Following the Easter Sunday attacks in Sri Lanka last month, tourism took a massive hit with estimated losses amounting to $1.5bn and a significant number of travel advisories issued against visiting the country. Seeking to attract tourists once again, tourism minister John Amaratunga said that the government is planning a travel insurance for tourists and will work out the quantum, reported local publication EconomyNext. He also said that the industry has suggested $100,000 to $150,000 of cover for the insurance which has already received cabinet approval.

    Asia | 09 May 2019
  • Sri Lanka sees a surge in demand for terrorism insurance following Easter bombings

    Sri Lankans in large numbers are showing interest to purchase terrorism insurance cover following the Easter Sunday bombings in the island nation.

    Asia Risk | 08 May 2019
  • NITF brings succour to a wounded nation

    National Insurance Trust Fund (NITF), Sri Lanka's state-run reinsurer, released LKR25m ($0.14m) in advance insurance claims to the Kingsbury and Cinnamon Grand hotels that faced terror attacks on Easter Sunday.

    AIRPlus | 07 May 2019
  • Sri Lanka: Bombed Shangri-La hotel in Colombo receives $1m advance pay-out

    Following the deadly Easter Sunday terror attacks in Colombo, major Sri Lankan life and general insurer Ceylinco General Insurance together with Chubb USA has paid an advance of $1m to Shangri-La Hotel Colombo last Thursday after an initial inspection was carried out on 22 April. The sum will be used to start repairs and was arranged even before finalising the initial investigation report, according to local publication The Sunday Observer. A loss adjuster appointed by Ceylinco General Insurance's reinsurer will execute further assessments of the damage to the hotel.

    Asia | 29 Apr 2019
  • Sri Lanka: Insurance fund to provide advance pay out following terror attacks

    Sri Lanka's National Insurance Trust Fund (NITF) has decided to provide Rs. 25m ($0.14m) in advance insurance claims to The Kingsbury and Cinnamon Grand hotels each following terror attacks across eight locations of the country last Sunday.

    Asia | 26 Apr 2019
  • 'Low-risk' Sri Lanka grapples with recent terror attacks

    Heartfelt condolences are sent to the people of Sri Lanka from the management and staff at Asia Insurance Review and Middle East Insurance Review as the Easter Sunday terror attacks in Sri Lanka have left at least 290 dead and 500 injured according to latest government figures. Sri Lanka was rocked by a series of co-ordinated bomb attacks at three churches in Colombo, Negombo and Batticaloa as well as hotels Kingsbury, Shangri-La and Cinnamon Grands in Colombo yesterday. The attacks came as a surprise as Sri Lanka was perceived to have a low terrorism risk after a violent civil war between the separatist Tamil Tigers and the government ended in 2009.

    Asia | 22 Apr 2019
  • Sri Lanka: Growth continues to slow in insurance sector

    Sri Lanka's insurance industry grew 9.5% to LKR175.7bn ($1bn) in gross written premiums in 2018, slowing from a growth rate of 15.7% a year earlier, publicly listed local insurance leader Ceylinco Insurance stated in its annual report.

    Asia | 17 Apr 2019
  • Flood-prone Sri Lanka receives update to its first flood model

    With major floods plaguing Sri Lanka every year since 2015 and all properties in the country being newly insured, there has been a growing need to model floods for (re)insurance purposes in the country. To tackle this gap, catastrophe modelling firm JBA Risk Management released its 2019 update to Sri Lanka's first multi-peril probabilistic flood model in February. First launched in 2015, the updated model was developed in collaboration with the Insurance Development Forum and it covers river as well as surface water flood risk.

    Asia | 01 Apr 2019
  • Sri Lanka: Higher levies on imported vehicles expected to dampen motor business

    The increase in taxes on imported vehicles in Sri Lanka is likely to cause the growth in motor insurance policy premiums to slow in the near term, says Fitch Ratings.

    Asia | 26 Mar 2019
  • Allianz partners Uber Eats

    Allianz Insurance Lanka, a private non-life insurer in Sri Lanka has entered into partnership with Uber Eats, where it will offer a comprehensive insurance cover for delivery partners of the online food ordering and delivery platform in Colombo city.

    AIRPlus | 04 Mar 2019

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