Business
People’s Insurance enters agreement with Sri Lanka Tourism as the sole insurance provider for inbound tourists
Handing over of the agreement from Sri Lanka Tourism to People’s Insurance
As Sri Lanka opens its doors to the world once more, Sri Lanka Tourism has implemented several measures to ensure that the island getaway is as safe as possible for international guests. A medical insurance scheme is a key element of the many safety nets put in place. In order to provide this service, People’s Insurance, a part of Sri Lanka’s largest financial services groups has entered an agreement with the Sri Lanka Tourism to be the exclusive insurance provider for all inbound tourists.
In accordance with the guidelines set by the Sri Lanka Tourism, this mandatory insurance scheme is offered to international tourists applying for online tourist visa, non Sri Lankan passport holders, dual citizen passport holders, Sri Lankan citizens travelling with foreign or dual passport holders, as well as business visa holders.
People’s Insurance will provide a medical cover for a period of 30 days for international visitors with effect from the day of arrival with the provision to extend the validity period of the policy for next 60 days with an additional premium. Adding to the convenience of visitors, extensions, claims and settlements can be initiated through an online portal.
The policy covers hospitalization, quarantine hotel charges and expenses for procedures which will prevent the spread of COVID-19 if the individual becomes infected with COVID-19 or becomes a close contact of an infected patient during their stay in Sri Lanka. As an added safety blanket, this insurance cover from People’s Insurance is supported by strong reinsurers from the Lloyds reinsurance market.
In light of this development, the Chairman of People’s Insurance, Mr. Isuru Balapatabendi had this to say, “Considering the impacts of the COVID-19 pandemic, People’s Insurance takes great pride in being the service provider to facilitate the medical insurance scheme. This partnership means much more than becoming just an exclusive insurer, as the past year has had a significant impact on the economy of Sri Lanka, People’s Insurance views this as our national duty towards empowering the economic mechanism of the nation at a difficult time,”
Mrs. Kimarli Fernando, Chairperson of Sri Lanka Tourism also voiced her thoughts, “Following the tourism pilot project which we conducted over the past few months, we learnt that it is vital to have a strong state-backed insurance company to handle the insurance requirements of inbound visitors. Having a local insurer partner with us ensures that the processes involved are streamlined and efficient, adding convenience to the experiences of our guests. I am grateful to the entire team at People’s Insurance for working together with us to implement this program and because of this, Sri Lanka is on its way to becoming one of the safest destinations, regardless of the ongoing pandemic,”
As a fast growing General insurance company, People’s insurance has become a strong player in the general insurance industry with more than Rs. 6 billion annual premium income, Rs. 10 billion assets and ‘A+’ Fitch Rating. People’s Insurance is authorized by The Department of Public Finance to provide insurance cover for esteemed Government institutions. As expressed by their vision, the insurer will continue to lead in value growth in general insurance through innovation and service excellence.
Business
‘Green Chilies’ returns after seven years to reignite Sri Lanka’s advertising industry spirit
After a seven-year hiatus, one of Sri Lanka’s most loved advertising industry gatherings is making a much-anticipated return. Green Chilies 2026, the iconic festival that once defined the fun, camaraderie and creative spirit of Sri Lanka’s advertising fraternity, returns on 4th June 2026 at Rise Up, Colombo 03, bringing together professionals from across agencies, media, digital, production and marketing for an evening of celebration, entertainment, and industry camaraderie.
Originally launched in 2011, Green Chilies was conceived as a platform to celebrate Sri Lanka’s Young Lions winners as they embarked on their journey to represent the country at the prestigious Cannes Lions International Festival of Creativity, while also creating a unique opportunity for the industry to come together outside boardrooms and deadlines.
This year’s revival comes at an especially meaningful time, as an entire new generation of industry professionals have entered the business without ever experiencing the culture and energy that made Green Chilies such a defining event. Some key highlights will be the recognition of the winners of the young Lions competition and the much-loved return of The Agency Idol, the wildly entertaining competition where agencies battle it out on stage in a spirited showcase of talent, humour, and creativity, bringing back one of the event’s most iconic traditions.
Speaking about the return of the festival, Ranil de Silva, Founder of Green Chilies and of Metal Factor, said: “When we first launched Green Chilies, the idea was simple. It was to celebrate our Young Lions and create something that brought the industry together as one community. Over the years it became far more than an event, it became part of our industry culture. Seeing it return after seven years is very special, particularly because so many young professionals will now get to experience the spirit that made this industry such a fun and inspiring place to be.”
Green Chilies 2026 is organized by Metal Factor and supported by the 4A’s Sri Lanka.
Event Details:
Venue: Rise Up, Alwis Place, Colombo 03
Date: Thursday, 4th June 2026
Time: From 6.30 PM onwards
Contact : Shelley +94 77 342 3123
Business
JKH posts 75% EBITDA growth to Rs.80.01 billion as recent investments begin to contribute
John Keells Holdings PLC (JKH) reported a strong financial performance for FY2025/26, with Group EBITDA increasing 75% to Rs.80.01 billion, reflecting the contribution of investments made over the past several years and the continued performance of the Group’s established businesses.
Group recurring EBITDA increased 71% to Rs.78.05 billion, compared to Rs.45.69 billion in the previous year, driven primarily by Retail, Transportation and Leisure. Recurring profit before tax rose 143% to Rs.35.72 billion, while recurring profit attributable to equity holders of the parent increased 155% to Rs.13.24 billion.
The year also marked the culmination of the largest investment phase in the Group’s history, with the operationalisation of key investments signalling a shift in the capital cycle from development to contribution. Overall funding requirements reduced materially in line with expectations, while net debt to EBITDA stood at approximately 2 times and net debt to equity at approximately 31%.
City of Dreams Sri Lanka recorded positive EBITDA for the full year, following the completion and launch of the remaining components of the integrated resort. Cinnamon Life’s conference and event spaces attracted interest from local and international organisers, while casino operations showed an encouraging pick-up from the fourth quarter onwards.
Colombo West International Terminal, the project company of WCT-1, recorded strong throughput growth during the year, supported by an improving volume mix. The business delivered a positive profit after tax ahead of expectations, despite recognising depreciation relating to phase 1, and has reached full utilisation of phase 1 capacity based on its latest monthly run-rate.
John Keells CG Auto recorded an exceptional year, supported in part by pent-up demand and the brand positioning and vehicle range of BYD.
The Supermarket business recorded approximately 14% growth in same store sales, driven primarily by a 14.3% increase in footfall. The Beverages and Confectionery businesses recorded strong volume growth, with Beverages benefiting from higher margins, while Confectionery margins were impacted by higher raw material costs and expenses linked to new product introductions.
Business
RCSS receives Chatham House Senior Research Fellow for discussion on South Asian Regionalism
Dr. Chietigj Bajpaee, Senior Research Fellow for South Asia, Asia-Pacific Programme at Chatham House, visited the Regional Centre for Strategic Studies on 26 May 2026 and met with the ED/RCSS, Ambassador (Retd.) Ravinatha Aryasinha, and researchers at the Centre. The discussion focused on Regionalism in South Asia and evolving geopolitical developments in the region.
Ambassador Aryasinha detailed the recent and ongoing initiatives undertaken by the RCSS and its wide Alumni Network spread throughout the region in strengthening South Asian solidarity. Dr. Bajpaee impressed on the need to consider alternative forms of regional cooperation in South Asia given the absence of India–Pakistan normalization, resulting in the stagnation of SAARC and the growing pull towards external regional frameworks such as the Regional Comprehensive Economic Partnership (RCEP). The two parties explored possibilities beyond state-led regionalism, including stronger networks among civil society, think tanks, diaspora groups, and business communities, as well as thematic “mini-lateral” cooperation on issues such as climate adaptation and maritime governance.
Ms. Chamika Wijesuriya, Ms. Thedini Herath, and Shayan Peris, Research/Programme Officers at RCSS, were associated with the discussion.
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