News
Sri Lanka Insurance celebrates a glorious 62 years of service
…inaugurates Business Operations for 2024
Sri Lanka Insurance (SLIC) inaugurated business operations for the year 2024 on Jan 1, at Sri Lanka Insurance Head Office, in Colombo. ‘Customer centricity through focused specialisation’ was announced as the theme for the business drive of 2024. The event was graced by the Board of Directors, Corporate Management, and Staff of SLIC. Business launches were also carried out at branch level in parallel to the main event at head office. The branch staff joined the head office event via live stream. The day’s proceedings commenced with observing blessings from the four religious believes.
Sri Lanka Insurance celebrates a glorious 62 years of service as the largest and strongest state insurer. The organisation remains at the helm of the insurance sector and has helped maintain industry-wide growth and equity, even during testing times. Year 2023 was a challenging year overall for the business community,
however Sri Lanka Insurance have risen to the occasion and it is evident through their exceptional performance.
Sri Lanka Insurance possess the largest asset base and the Life Fund solidifying its position as the strongest and largest insurance provider of Sri Lanka. The year marked the significant achievement of Sri Lanka Insurance being able to declare a SLR. 10.4 billion Life Insurance Bonus for 2022 to its policyholders. This is the 1st time in the Life Insurance industry that an organization has declared a Bonus over SLR 10 billion. Since 2006, SLIC has consistently declared the highest Life Insurance bonus each year, amounting to an unmatched total of SLR. 92.8 billion. Furthermore, SLIC concluded the year successfully recording a Rs. 21 Billion GWP in Life Insurance and Rs. 23.4 Billion GWP in General Insurance business.
In his New Year message, Chairman of Sri Lanka Insurance, President Counsel Mr. Ronald C Perera stated, ‘The dedication and hard work of all employees of Sri Lanka Insurance has contributed to the financial success and numerous accomplishments of the organisation in the past year. It is because of the employees who are the foundation of the company that Sri Lanka Insurance has withstood many challenges it has seen.
” He further commented, “Sri Lanka Insurance will embark on a new journey in 2024 with all preparations made for the segregation of the company as Sri Lanka Insurance Life and Sri Lanka Insurance General.” The Chairman reiterated that it is a regulatory requirement and this change will bring positive changes and a positive growth to both the Life Insurance and General Insurance categories.
Chief Executive Officer of Sri Lanka Insurance, Mr. Chandana L. Aluthgama in his New Year message stated, “despite the many challenges the Company has successfully completed another year due to the resilience showcased by the employees and the company as a whole. Regardless of the adversities we have kept our promises to our customers and have made an impact on the people by giving back to the communities to uplift their life styles.
” He further stated, “As we embark` on a new journey as Sri Lanka Insurance Life and Sri Lanka Insurance General, the business drive for both Life and General categories in 2024 will be ‘Customer centricity through focused specialisation’. This theme underscores the very core of SLIC’s mission to place its customers at the heart of everything we do. It is a commitment to not only meet but exceed their expectations through our expertise and specialized services by aligning our business strategies to ensure a superior customer experience.”
Adding to the success of the company, SLIC had numerous other achievements during the year. Sri Lanka Insurance was awarded the ‘The Most Loved Insurance Brand’ by Brand Finance for the sixth consecutive year. SLIC was also listed in the top 100 ‘Most Valuable Brands’ in Sri Lanka by Brand Finance 2023. The Sri Lanka Insurance General brand was awarded the ‘Most Valuable General Insurance Brand 2023’ while Sri Lanka Insurance Life brand secured 1st Runner-up in the ‘Most Valuable Life Insurance Brand 2023’ category.
Among the many other awards SLIC was recognized at the Women Friendly Workplace awards 2023 under the special category for ‘Empowering Women Entrepreneurs with Life Insurance Agencies’. Furthermore, the company won the Insurance, Finance and Investment sector award at the ‘Great HR Quiz’. SLIC also secure the Runner-Up award for Best Managed Project in Banking and Financial Sector at the National Project Management Awards 2023.
The organisation is technically robust and has been awarded the ISO 9001:2015 quality standard and Carbon Footprint Certification complying with ISO 14064-1:2018. The company continues with its initiatives to give back to the society though various projects. A free Life Insurance cover was gifted to parents of children born on World Children’s Day for the second consecutive year. Additionally, 375 Suba Pathum scholarships were awarded to top performers at the Grade 5 scholarship, GCE Ordinary Level and Advanced Level 2020/2021 examinations.
News
Comprehensive reforms to be introduced in the higher education sector in line with primary and secondary education reforms – PM
Prime Minister Dr. Harini Amarasuriya stated in Parliament on Wednesday [06th of May] that the Government has planned to introduce relevant changes in the higher education sector aligning with the new reforms being implemented in the primary and secondary education sectors.
The Prime Minister made these remarks while responding to questions raised by Member of Parliament Manjula Sugath Rathnayaka.
The Prime Minister further stated:
“A special expert committee appointed for this purpose has been in operation over the past six months, and based on the report of this panel, existing issues in the higher education sector will be identified and the necessary reforms will be implemented.
A total number of 281,810 students sat for the 2025 G.C.E. Advanced Level Examination, of whom 176,538 qualified for university admission. Following the subject streams, the number of students who qualified is as follows: 32,935 in Biological Sciences, 23,012 in Physical Sciences, 39,608 in Commerce, 58,269 in Arts, 4,199 in the General Stream, 12,472 in Engineering Technology, and 6,043 in Bio-Systems Technology from which 42,937 students are expected to be admitted to universities.
While ensuring the quality of education, the Government gives priority to improving facilities for university students. It has also been decided to maintain the intake for first-degree admissions at the same level as in previous years.
A new course in Geographic Information Systems has been introduced at the University of Ruhuna, and a course in Electronic and Intelligent Systems Engineering has been introduced at the University of Peradeniya from the academic year 2025/2026. Fifty students will be enrolled for each of these new programmes. Steps have already been completed to release the cut-off marks and forward the registration lists to the respective universities”.
Responding to a question raised by the Member of Parliament K. Kader Mastan regarding preschool education, the Prime Minister stated:
“As most preschools in the country are managed by the private sector, the Ministry currently has no provision to offer permanent appointments or salaries to their staff. However, steps are already being taken to provide a certain allowance to volunteer teachers in selected preschools under Provincial Councils.
By 2027, the entire preschool education system is expected to undergo comprehensive reform, with necessary measures being jointly undertaken by the Ministry of Education and the Ministry of Women and Child Affairs.
In addition, based on the recommendations of the National Education Commission, a national policy to regulate preschool education is scheduled to be established in 2026. Under this policy, teacher guidelines and model activity manuals are being prepared, along with plans to conduct teacher training programmes at the provincial level”.
Commenting on volunteer teachers, the Prime Minister emphasized that, in accordance with the Cabinet decision dated 04.01.2007, the policy of not recruiting any volunteer teachers beyond the approved 4,700 teacher aides will continue to be implemented.
[Prime Minister’s Media Division]
News
Joint programme between President’s Fund and Janashakthi Foundation to expand healthcare facilities for children
A special collaboration between the Presidents’s Fund and the Janashakthi Foundation, aimed at expanding healthcare facilities available to children under the age of 18, was launched on Wednesday (06) morning.
Implemented under the theme “Building a Healthier Today for a Winning Tomorrow”, this national initiative has been introduced through the joint efforts of the President’s Fund and the Janashakthi Foundation with the objective of reducing the financial barriers associated with children’s healthcare.
Under the President’s Fund, only a portion of the medical expenses incurred by a patient is generally covered. However, under this new collaboration, the Janashakthi Foundation will provide either an equivalent amount or the remaining balance of the treatment cost, whichever is lower.
Speaking on the occasion, Secretary to the President’s Fund and Senior Additional Secretary to the President, Roshan Gamage, stated that the present Government had taken steps to decentralise and digitalise the operations of the President’s Fund, thereby transforming it into a truly people-centric fund. He noted that this had reinforced public confidence in the Fund’s transparency, accountability and effectiveness and added that the collaboration with the Janashakthi Foundation had further strengthened this process.
Gamage further stated that close and meaningful coordination with the private sector would help enhance healthcare assistance provided to children and minimise the gap between the financial aid available and the actual cost of essential medical treatment.
Also addressing the gathering, Managing Director and Group Chief Executive Officer of the Janashakthi Group, Ramesh Schaffter, stated that difficulties in accessing medical treatment constitute a major obstacle preventing children from progressing towards a better future.
He further stated that the collaboration seeks to reduce that obstacle by extending support to children who are in urgent need of assistance, thereby laying the foundation for future generations to face tomorrow with greater confidence.
Under this programme, applicants seeking additional financial assistance are required, when applying to the President’s Fund, to duly complete and submit a consent form authorising the secure sharing of their information with the Janashakthi Foundation.
The identification of children requiring financial assistance, verification of their information and approval of funds will continue to be carried out by the President’s Fund.
Under this initiative, payments will generally be made to the guardians of children following the completion of treatment. However, in cases involving emergency treatment and treatment conducted overseas, payments will be made in advance.
Applicants submitting medical assistance applications to the President’s Fund from 15 May 2026 onwards will be eligible to apply for additional funding from the Janashakthi Foundation.
The event, held at the Hilton Colombo, was attended by J.M. Wijebandara, Director General of Legal Affairs at the Presidential Secretariat and Advisor to the President (Legal Affairs); C.T.A. Schaffter, Founder and Chairman Emeritus of the Janashakthi Group; Gamika De Silva, Group Chief Marketing Officer; Dilshan Wirasekara, Deputy Chief Executive Officer of the Janashakthi Group; as well as officials of the President’s Fund and the Janashakthi Foundation.
President’s Media Division (PMD)
News
Maldivian President concludes state visit to Sri Lanka
The President of the Republic of Maldives, Dr. Mohamed Muizzu, departed Sri Lanka on Wednesday morning (06) from the Bandaranaike International Airport, Katunayake, concluding a successful state visit to the country.
The visit by the Maldivian President and his delegation further strengthened the longstanding friendship and cooperation between the Maldives and Sri Lanka, while delivering a range of mutual benefits to the peoples of both nations.
This marked President Muizzu’s first state visit to Sri Lanka, during which several mutually beneficial areas of cooperation were agreed upon, underscoring the success of the visit.
Minister of Science and Technology, Krishantha Abeysena, Minister of Youth Affairs and Sports , Sunil Kumara Gamage, Member of Parliament Oshani Umanga, along with senior officials of the Ministry of Foreign Affairs, were present at the airport to bid farewell to the Maldivian President, the First Lady and the accompanying delegation.
(President’s Media Division)
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