News & market updates

Sri Lanka Insurance Corporation General Limited (SLICGL) was named Sri Lanka’s No. 1 Most Loved General Insurance Brand for 2026 by LMD. The company reported a 20.2% market share with Rs.30.3 billion gross written premium in 2025 and settled Rs.12.3 billion in claims.

Softlogic Life Insurance PLC reported Rs. 40 billion in gross written premiums in 2025 and Rs. 12.3 billion in Q1 2026 (37% YoY), with a 19.3% market share and Rs. 76 billion in assets as at Mar 31, 2026. The company launched 'Health for Life' lifetime health coverage and noted its acquisition of Allianz Life Lanka plus a $15m capital investment from Norfund and OP Finnfund.

Softlogic Life (AAIC.N0000) reported Rs.40bn Gross Written Premiums in 2025 and Rs.12.3bn GWP in Q1-2026 (37% YoY), with 19.3% market share and total assets of Rs.76bn as at March 31, 2026. It announced the Allianz Life acquisition, a USD15m DFI investment, digital investments and launched 'Health for Life', a lifetime health coverage product.

Softlogic Life Insurance PLC (AAIC.N0000) has signed an SPA to acquire 60% of Bangladesh-based Diamond Life Insurance for about USD 1.9 million. The purchase gives Softlogic Life a majority stake and entry into the Bangladesh life insurance market as part of its regional expansion.

Softlogic Life Insurance (AAIC.N0000) has agreed to buy 60% of Bangladesh’s Diamond Life Insurance for $1.9 million, marking the company’s entry into the Bangladesh life insurance market.

Secondary government bond market rallied and yields dipped on selected tenors (e.g. 15.12.26 at 10.25%; 15.02.28 ~10.85%). A Treasury Bill auction will offer Rs.70bn (Rs.35bn 91-day, Rs.25bn 182-day, Rs.10bn 364-day); USD/LKR about 334.75/335.50 and call money ~9.21%.

UN projects that by 2050 one in four Sri Lankans will be over 60, and districts already show sizable retirement-cost gaps (Colombo needs Rs. 18,044/month vs Monaragala Rs. 15,997 as of Jan 2026). Rising inflation, healthcare costs and outward migration are straining retiree incomes, and the piece highlights life insurers as providers of structured retirement solutions.

The Insurance Regulatory Commission of Sri Lanka hosted the OECD-ADBI Roundtable on Insurance and Retirement Savings in Asia on 2–3 June 2026 in Colombo, with about 75 delegates from 26 countries. Participants discussed regulatory developments, pensions, climate risk, capital markets and digitalisation in insurance and retirement savings.

Union Assurance and Sampath Bank held the Sampath Bank Life Leads Annual Awards 2025 at Cinnamon Life, recognising top-performing Sampath Bank branch employees under their bancassurance partnership. Awards covered categories including Best Introducer, Best Branch, Best Regional Manager, Best Chief Manager and national top achiever.

Sri Lanka GDP grew 5.1% year-on-year in Q1 2026, up from 4.7% in the previous quarter. Growth was led by industry (up 7.2%) with mining +19.5% and construction +16.3%, while services rose 3.4% driven by insurance (+22%), IT/BPM (+16.1%) and financial services (+12.8%); agriculture +1.1%.

Sri Lanka's real GDP grew 5.1% year-on-year in Q1 2026 to Rs. 3,652,503 million (2015 prices). Growth was led by industry (+7.2%)—notably construction (+16.3%) and mining (+19.5%)—while services rose 3.4% (insurance, IT, financial services) and agriculture grew 1.1%.

Parliament's Committee on Public Finance warned that transferring debt management from the Central Bank to the Public Debt Management Office has created gaps in public debt and government securities data that could fuel speculation and market distortions; CBSL says PDMO now has publication authority while CBSL continues to provide downloadable time-series.

The Sri Lanka Business Council UAE held a 35th-anniversary investment forum in Dubai on 11 June that drew 225 UAE business leaders and investors. Colombo Port City presented investment opportunities and speakers encouraged investment in tourism, hospitality, IT, logistics, manufacturing and renewable energy in Sri Lanka.

Allianz Lanka held its Annual Awards 2026 to honor outstanding 2025 performers, naming Suvimal Perera of the Wennapuwa branch as the Champion of Champions.

Ceylinco Life warns Sri Lanka is ageing rapidly, creating district-level retirement gaps; Colombo's essential needs cost about Rs. 18,044/month (Jan 2026) while the national poverty line reached Rs. 16,730 by April 2026. Life insurers can offer structured retirement solutions as healthcare access, inflation and migration widen pressures.

Sri Lanka Insurance Corporation General (SLICGL) ran a nationwide road safety awareness campaign on 18 May in Borella as part of National Road Safety Week 2026, continuing its ongoing motor-insurance CSR programme to promote safer driving and protect vulnerable road users.

HNB PLC has partnered with Access Motors to launch an exclusive Jaguar and Land Rover leasing scheme effective 25 May 2026, offering special leasing rates, a first-year credit card fee waiver, discounted insurance and vehicle discounts up to Rs.500,000 plus complimentary first-five services.

The Public Debt Management Office raised Rs.71,744 million in the T‑bill auction, accepting 51.2% of bids against a Rs.140,000 million target; yields rose to 10.09% (91-day), 10.27% (182-day) and 10.16% (364-day).

Sri Lanka Treasury bill yields rose across maturities at Wednesday’s auction while demand was weak: 71.74 billion rupees sold of 140 billion offered. The 3-month yield rose 25bp to 10.09%, the 6-month up 26bp to 10.27% and the 12-month up 14bp to 10.16%.

The Insurance Regulatory Commission of Sri Lanka reports total Gross Written Premiums reached Rs. 384,963 million in 2025, a 19% increase in 4Q2025 vs 4Q2024 and a 64.9% rise since 2021. The Ditwa cyclone generated 24,757 insurance claims worth about Rs. 56 billion as of 25 May 2026, with 79% of motor and 44% of non-motor claims settled.

Sri Lanka operationalised the Central Bank's Green Finance Taxonomy with EU support and ran capacity-building sessions in May 2026 engaging over 200 stakeholders on reporting guidelines, screening tools and green product development. The CBSL Board has approved the rollout and will make materials publicly available.

Allianz Insurance Lanka ran an island-wide road-safety sticker campaign engaging over 7,000 three-wheeler drivers across nearly 60 locations and offered participating drivers free one-year accidental death cover.

Janashakthi Life (flagship of JXG) now accepts new life insurance applicants up to age 80 and provides life cover and maturity benefits up to age 90, extending beyond the prevailing market norm of 65–70 years to address an ageing population.

Janashakthi Life (Janashakthi Insurance) has launched a policy extending entry age to 80 and offering life cover and maturity benefits up to age 90, a first in Sri Lanka where market norms typically stop at 65–70.

The Insurance Regulatory Commission of Sri Lanka (IRCSL) visited Hong Kong to strengthen regulatory capabilities and align supervisory practices with global standards through meetings with the Hong Kong Insurance Authority, Hong Kong health and actuarial bodies, and senior AIA Group leadership.

HNB Life PLC (HASU.N0000) launched 'Privileged Protect', a universal life insurance product offering shorter premium-paying terms with continued long-term coverage, investment growth, six compulsory protection benefits, dividend/loyalty entitlements, partial withdrawals after 5 years and maturity-to-income conversion.

IRCSL and the Financial Intelligence Unit held an awareness session on 12 May 2026 for insurance-company compliance staff covering the National Risk Assessment 2024/25, public–private partnership and feedback on suspicious transaction reports; 66 participants attended.

Allianz Insurance Lanka has partnered with Dedigama Group to allow Dedigama branch staff at an islandwide network of over 350 pawning outlets to provide information, collect premiums and print temporary insurance certificates, expanding customer access.