News Non-Life02 Feb 2024

Sri Lanka:Non-life insurers' performance to weaken on ceding all strike, riot & terrorism premiums to reinsurer

| 02 Feb 2024

A new directive that Sri Lankan non-life insurers remit 100% of motor insurance strike, riot, civil commotion and terrorism (SRCCT) premiums to state-owned National Insurance Trust Fund Board (NITF) should benefit NITF while the underwriting profitability of non-life insurers is likely to worsen, says Fitch Ratings.

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