News & market updates

Sri Lanka Insurance Life reported profit before tax of Rs. 23.9 billion for the nine months to 30 Sept, with gross written premiums up 32% to Rs. 23.6 billion. PAT was Rs. 22.0 billion; new business premiums rose 61% to Rs. 5.4 billion; claims/maturities paid Rs. 13.2 billion; assets Rs. 264 billion; declared Rs. 12.5 billion in annual bonuses.

Sri Lanka Insurance Life reported a profit before tax of Rs.23.9 billion and Gross Written Premiums of Rs.23.6 billion for the nine months to 30 Sep 2025 (GWP +32% y/y); PAT was Rs.22.0 billion, new business premiums rose 61% to Rs.5.4 billion, and claims settled totaled Rs.13.2 billion.

Softlogic Life launched a pioneering AI-enabled 2024 Annual Report with personalized AI reports, an AI assistant 'Lifey', gamified quizzes, live actionable dashboards and external assurance for SLFRS S1 and S2 disclosures.

HNB General Insurance was certified Great Place To Work® in Sri Lanka based on employee feedback. The insurer highlighted its culture and noted collaborations such as the Sayuru mobile platform developed with Dialog Axiata to protect day-boat fishermen from climate risk.

Union Assurance hosted an awards event recognising Seylan Bank’s 2024 bancassurance champions, with Anuradhapura Branch named Branch Champion and the North Central Region named Regional Champion.

The Insurance Regulatory Commission of Sri Lanka will hold insurance awareness programs in Jaffna on 22 Oct 2025 and Kilinochchi on 23 Oct 2025 under the 'Insurance for All: For a Secure Future' campaign. Workshops with IASL, SLIBA and SLII will target officers, bankers, SMEs, students and the public to boost insurance uptake and explain schemes such as Agrahara and the Optional Compensation Scheme.

The government will introduce four new labour bills covering trade unions, labour relations, occupational safety and termination of employment and has appointed a 17-member committee to review 14 laws; interim amendments will continue until the new framework is enacted. The Labour Department’s database is being upgraded under a digitalisation drive and a national occupational safety and health policy is nearing publication.

The Insurance Regulatory Commission of Sri Lanka will hold insurance-awareness programs in Jaffna on 22 October 2025 and Kilinochchi on 23 October 2025 under its 'Insurance for All: For a Secure Future' campaign, with workshops run alongside IASL, SLIBA, SLII and licensed life and general insurers.

LOLC Al-Falaah Takaful Life and General won four awards at the 10th IFFSA Awards 2025 — Silver and Bronze for Takaful Window/Unit of the Year 2024/25 and Bronze and Merit for Islamic NBFI Window/Unit of the Year 2024/25, highlighting the group’s takaful growth and digital capabilities.

IMF projects global public debt will exceed 100% of GDP by 2029 and could reach 123% under an adverse scenario, and it urged countries to cut deficits and build fiscal buffers amid higher interest rates and the risk of financial turmoil.

Sri Lanka sold Rs4.1bn of Treasury bonds on tap at the auction's weighted average yield of 11.01%, taking weekly bond sales to Rs166.2bn; settlement is on September 15.

AIA Sri Lanka held its Partnership Distribution Diamond Club 2025 in Osaka (11–14 June), recognising top bancassurance performers for FY2024, including representatives from NDB and Commercial Bank.

Shippers’ Academy Colombo will hold a Masterclass on cargo insurance for international trade on 15 October 2025 from 9:00 a.m. to 1:00 p.m. at the Distance Learning Centre, SLIDA, Colombo 7, aimed at exporters, importers and parties handling insurance to explain transit risks and coverage gaps.

Sri Lanka sold Rs162.1bn of government bonds maturing in 2030, 2033 and 2037 at average yields of 9.80%, 10.72% and 11.01% respectively, with settlement on Oct 15.

Janashakthi Insurance (Janashakthi Life) was awarded an A- credit rating by Lanka Rating Agency, citing strong governance and capital adequacy. The company reported Q2 YTD GWP Rs.3,769m and net profit Rs.1,318m, with 49% Q1 GWP growth.

Union Assurance PLC has fully digitised its Advisor Life Cycle Management, automating adviser onboarding and self-service and integrating with the Sri Lanka Insurance Institute's digital exams platform. The change accelerates onboarding, improves data accuracy, boosts productivity and delivers cost savings.

The Islamic Finance Forum of South Asia celebrated its 10th edition and presented awards to 20 institutions across 30 categories; NDB won Deal of the Year (Gold) and, with Vidullanka, received a First Listed Sukuk award (Silver), Seylan Bank won Deal of the Year Silver for a 10MW solar project, and L B Finance won ESG and digital product awards.

HUTCH Sri Lanka is offering free travel insurance to all roaming customers, bundling USD 5,000 cover with its popular 10GB weekly roaming plan. The benefit, available across 150+ destinations, is provided in partnership with Assetline Insurance Brokers and Allianz.

Sri Lanka Insurance Corporation General Limited launched the 'I Am a Safe Driver' national campaign on World Children’s Day, deploying teams from its 143 branches to engage with drivers of over 8,000 school transport vehicles nationwide. Teams conducted one-on-one safety discussions, distributed leaflets and placed safety stickers to promote child transport safety.

People’s Insurance PLC appointed Thushari Hewawasam as a Non-Executive Non-Independent Director. Hewawasam is Deputy General Manager – Commercial Credit at People’s Bank with over 23 years of banking experience across credit, corporate and international banking.

Central Bank released the Financial Stability Review 2025, reporting improved financial-sector resilience in H1 2025 with rising private credit, lower interest rates, stronger bank profitability and capital, and subdued financial stress. The report also notes rupee depreciation, a strong stock market and increased demand for Treasury bonds.

Commercial Bank and AIA's bancassurance partnership secured over Rs. 1.2 billion in annualized new premium (ANP) in under a year and was celebrated at the Commercial Bank – AIA Bancassurance Achievers Awards 2025. The awards recognised Commercial Bank and AIA distribution teams for their 2024 performance.

Colombo market dipped as ASPI fell 0.3% and S&P SL20 fell 0.4% on turnover of Rs.7.3bn, with foreign investors net sellers of Rs.196.2m. Banking counters and conglomerates saw profit-taking while food retail and capital goods recorded high turnover and mixed price moves.

Colombo market rally extended to a 14th session as the ASPI closed at 22,094.89, topping 22,000 for the first time with turnover around Rs.9.7–9.8 billion. Banking and diversified financials led turnover (Commercial Bank, Pan Asia, Lanka Credit & Business Finance among top contributors) while foreigners were net sellers.

Sri Lanka sold Rs1,927 million of treasury bills on tap at average rates of 7.53% (3-month) and 8.02% (12-month), bringing this week's total bill sales to Rs44.92 billion; settlement is October 3, 2025.

LOLC Insurance appointed Chandana L. Aluthgama as Executive Director and Principal Officer of LOLC Life Assurance and Director of LOLC General Insurance, and named Kithsiri Gunawardena as Director of LOLC Life Assurance while he remains Chairman of LOLC General Insurance.

Union Assurance (UAL.N0000) retained a place in Brand Finance's Top 50 Most Valuable Brands in Sri Lanka 2025. The company emphasized its digital transformation initiatives and its Suwamaga CSR diabetes program, which provided free testing to over 22,000 people (Sep 2024–Aug 2025).