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Sri Lanka tag returned 51 results

  • Sri Lanka: General insurers see business expand in 2018, but at slower pace

    General insurers saw more opportunities and challenges in 2018 because of a mix of various factors such as an increase in vehicle registrations and a decline in construction business, according to the Statistical Review for 2018 presented by the Insurance Regulatory Commission of Sri Lanka.

    Asia | 15 Jul 2019
  • Sri Lanka: Terror victims wait for pending insurance pay-outs

    Following the terror attacks in Sri Lanka in April which killed at least 290 people and left more than 500 injured, insurance claimants affected by the attacks are still waiting for pay-outs. According to a report from Times Online, the Ceylon Teachers Union (CTU) alleged that students affected by the attacks are yet to receive their pay-outs from the 'Surakasha Students Insurance Scheme'.

    Asia | 12 Jul 2019
  • Pakistan: Government-issued insurance card covers health expenses for the poor

    The newly-created 'Poverty Alleviation and Social Protection Division' of the Pakistan government has introduced a health insurance card in 38 districts to date, reported Pakistan Point News. The card aims to help 3.3m low-income Pakistanis with their medical expenses.

    Asia | 12 Jul 2019
  • Sri Lanka: Ceylinco continues to lead life insurers in premium volume

    Ceylinco Life has continued to maintain its dominance in the long term insurance market by generating GWP of LKR17.8bn ($101m) in 2018 (2017: LKR15.8bn) and accounted for 22.18% of the total GWP in the life market.

    Asia | 11 Jul 2019
  • Sri Lanka: Insurance profits in 2018 shrink following surge in 2017

    The Sri Lankan insurance industry reported total profit before tax of LKR37bn ($210m), around 25% lower compared to 2017, according to a statistical review for 2018 presented by the Insurance Regulatory Commission of Sri Lanka.

    Asia | 10 Jul 2019
  • Sri Lanka: Farmers sign up for first blockchain-based agricultural insurance

    Nearly 200 smallholder paddy field farmers in Sri Lanka, who are at risk of losing their crops due to extreme weather, have enrolled in a newly-launched blockchain-based platform which provides them with automated microinsurance products. The platform was recently launched by InsurTech start-up Etherisc, insurance broker Aon and Oxfam, which have collaborated to utilise blockchain technology and directly address issues that are exacerbating the protection gap among these farmers.

    Asia | 03 Jul 2019
  • Sri Lanka: State owned insurer declares record bonus for life policyholders

    State owned Sri Lanka Insurance Corporation (SLIC) has declared its biggest life insurance bonus of LKR7.7bn ($43.6m) for the year 2019 to its life insurance policyholders, chairman Mr K A Vimalenthirarajah, says in the company's annual report for 2018.

    Asia | 25 Jun 2019
  • 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

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