Business

Devaka Cooray and Hiran Cabraal Appointed to Jetwing Symphony Board

  • August 13, 2024

Jetwing Symphony PLC has announced the addition of Devaka Cooray and Hiran Cabraal to its Board as Non-Executive Independent Directors. Devaka Cooray, a seasoned finance professional, is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka and the Chartered Institute of Management Accountants of the UK. He currently serves as Chairman of

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Finance

Fitch Affirms ‘BBB(lka)’ Rating for NITF, Highlights Reinsurance Challenges

  • July 18, 2024

Fitch Ratings has affirmed the ‘BBB(lka)’ insurer rating for Sri Lanka’s National Insurance Trust Fund (NITF), maintaining a stable outlook but cautioning about the Fund’s difficulty in securing timely reinsurance cover. NITF’s major revenue source is from riots, civil commotion, and terrorism (SRCCT) premiums, with claims remaining low. Key points from Fitch’s assessment include:

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