Virtusa Corporation, a leading provider of digital strategy and IT services, has been recognized as a Star Performer and a Major Contender in the 2024 Life & Annuity (L&A) Insurance IT Services PEAK Matrix Assessment by Everest Group. The PEAK Matrix, a trusted industry evaluation tool, assesses service providers based on market impact, vision, and
Nawaloka Hospitals PLC has strengthened its commitment to delivering exceptional patient-centric care by signing a Memorandum of Understanding (MoU) with the National Insurance Trust Fund (NITF). This partnership aims to provide substantial concessions to all government employees covered under the Agrahara Medical Insurance scheme. The MoU was formalized during a recent ceremony attended by key
In celebration of World Children’s Day 2024, Sri Lanka Insurance Life Corporation (SLIC) is offering a free life insurance cover worth Rs. 1 million to the parents of every child born on October 1, 2024, across the island. This initiative, now in its third consecutive year, reflects SLIC Life’s commitment to ensuring the financial security
Sri Lanka’s insurance industry experienced mixed performance results in the first quarter, achieving a 7.39% year-on-year (YoY) growth in overall Gross Written Premium (GWP), equivalent to Rs. 5.41 billion, according to data from the Insurance Regulatory Commission of Sri Lanka (IRCSL). The combined GWP for Long-Term and General Insurance Businesses rose to Rs. 78.59 billion
The Education Ministry of Sri Lanka has announced a comprehensive insurance coverage plan for government school students, investing Rs. 7,112 million for up to three years. Education Minister Dr. Susil Premajayantha stated that beginning from August 1, the “Suraksha Student Insurance” (Suraksha Sisu Rakshanaya) will be available to students in government schools, government-approved private schools,
The insurance industry in Sri Lanka reported a total Gross Written Premium (GWP) of Rs. 78,589 million for Long-Term and General Insurance Businesses for the period ending March 31, 2024, reflecting a 7.39% increase compared to Rs. 73,178 million in Q1 2023. This marks a premium growth of Rs. 5,411 million year-on-year. The GWP for
Sri Lanka’s Ministry of Sports, led by Minister Harin Fernando, has launched a historic insurance scheme for schoolboy rugby players under 16 and under 19. The initiative, facilitated in collaboration with Sri Lanka Insurance Corporation, aims to provide financial protection to young rugby athletes. The official ceremony, held at Havelock Sports Club, included the signing
Sri Lanka’s leading private insurance company, Ceylinco Insurance Plc, has undergone a name change to Ceylinco Holdings Plc, according to a recent stock exchange filing. This move reflects the company’s diversified business portfolio, which now encompasses not only insurance but also education, hydropower, healthcare, and financial services. Ceylinco Holdings Plc remains the largest private player
AIA Insurance’s Higher Education Scholarships Programme marked its 29th year of recognizing top performers from each district in the Grade 5 scholarship examination. Since its inception in 1994, the program has been dedicated to supporting Sri Lanka’s brightest students, regardless of their affiliation with AIA. The awards ceremony, graced by distinguished academic Professor Ajith De
Janashakthi Limited (JXG), the parent company of the Janashakthi Group of Companies, has received a notable credit rating upgrade from Lanka Rating Agency (LRA), elevating its status from BB- to BBB-. This upgrade, signaling a transition from moderate risk to investment grade, underscores the Janashakthi Group’s robustness, stability, and sustained growth across its operational sectors.