News
Insurance luminary Nihal Senaratne honoured
In a landmark moment for Sri Lanka’s insurance industry, Nihal Senaratne, Chairman of Senaratne Insurance Brokers (Pvt) Limited, has been honoured by the Chartered Insurance Institute (CII) of London, UK, for his outstanding contribution to the profession. The accolade was presented during a visit to his office in Colombo by senior CII officials; Holly Porter, Executive Director (Market & Opportunities) and Gaenor Jones, Regional Director (Middle East, Central and South Asia).
The recognition celebrates Senaratne’s remarkable legacy spanning over seven decades, marked by visionary leadership, industry innovation, and an unwavering commitment to professional excellence. This accolade, accompanied by a formal certificate of commendation, is believed to be the first of its kind ever issued by the CII – London, marking a truly historic moment for both Senaratne and the Sri Lankan insurance community.
In his remarks, Senaratne shared, “To be recognized by the Chartered Insurance Institute of London is a humbling honour. My journey in insurance has always been about service to clients, colleagues, and the industry I hold dear. This commendation is not mine alone; it belongs to every Sri Lankan professional who has worked tirelessly to elevate our standards and reputation on the global stage.”
Founded in 1979, Senaratne Insurance Brokers has long been a pillar of independent financial insurance broking in Sri Lanka. Under Senaratne’s stewardship, the firm has grown into a client-centric powerhouse, known for its technical expertise, ethical standards, and long-term partnerships. The company’s emphasis on Chartered qualifications and continuous professional development has made it a model of best practice, as highlighted in a recent CII case study.
Speaking at a ceremony, former CII President Jane Portas praised Senaratne’s “visionary leadership and enduring impact,” noting that “his dedication to raising professional standards has not only transformed his own firm but has elevated the entire Sri Lankan insurance landscape.”
The recognition comes on the heels of Senaratne’s 72nd anniversary in the industry; a milestone celebrated earlier this year by colleagues, clients, and peers across the region. Known for his humility and sharp intellect, Senaratne reflected on the honour with characteristic grace: “To be recognised by the Chartered Insurance Institute of London is a humbling honour. My journey in insurance has always been about service to clients, colleagues, and the industry I hold dear. This commendation is not mine alone. It belongs to every colleague, client, and partner who believed in the power of trust, professionalism, and service and to every Sri Lankan professional who has worked tirelessly to elevate our standards and reputation on the global stage.”
The accolade also underscores the growing global recognition of Sri Lanka’s insurance talent. As the industry navigates digital transformation and evolving risk landscapes, leaders like Senaratne continue to inspire a new generation of professionals committed to excellence and integrity.
In a career spanning an unprecedented 72 years, Senaratne has become a towering figure in Sri Lanka’s insurance landscape, leaving an indelible mark on both national and international platforms. Born on 3rd January 1934, Senaratne is the son of two distinguished Sri Lankans; Loranee Senaratne, the country’s first female ambassador, and Dr. Owen L. F. Senaratne, a renowned eye surgeon. A proud alumnus of Royal College Colombo, his journey in insurance began in February 1953 as a Trainee Manager at Bosanquet & Skrine Ltd.
by CII for Lifetime Contribution ✍️
News
Low-quality coal causes power cuts: Ex-LECO Chief
By Shamindra Ferdinando
The use of low quality coal, over a period of time, had led to the developing crisis at the Lakvijaya Coal Power Plant (LVPP) at Norochcholai that compelled the boastful NPP government to implement power cuts, former Lanka Electricity Company (Private) Limited (LECO) Chairman Bandula Chandrasekera said yesterday.
The government imposed one-hour countrywide power cuts on 19 Oct.
Chandrasekera, now a consumer rights activist, warned that though the government declared the power cuts would be limited to three days, the situation could take a turn for the worse.
The top United Republican Front (URF) activist said so in response to the government’s claim that Saturday’s sudden drop in electricity generation at the country’s only coal-fired power plant hadn’t been caused by the quality issue of coal.
The former LEOCO Chief emphasised that the country was paying a very heavy price for the controversial procurement of low-quality coal for the 2025/2026 season.
“Procurement of low quality coal is not an allegation. It has been accepted by a seven-member committee, headed by K. L. R. C. Wijayasinghe, Additional Secretary, Energy Ministry, appointed by Parliament,” Chandrasekera said, pointing out that the government was trying to mislead the public into believing that the use of coal supplied by Trident Chemphar wasn’t the cause of the current power crisis.
The expert committee that investigated the coal scam had disclosed losses caused by substandard coal, Chandrasekera said, adding that the total losses/damages could be as much as Rs 20 bn.
Trouble erupted in Dec, 2025 when LVPP began using coal purchased from the new supplier, whose selection was challenged by the Auditor General in a special report submitted to Parliament, in April this year, he said.
Since the government entered into a deal with the Indian company, LVPP has so far received 19 ship loads of coal. An investigation conducted on the orders of the Public Utilities Commission of Sri Lanka (PUCSL) revealed that the use of low-quality coal had had a detrimental impact on the LVPP.
The Frontline Socialist Party (FSP) exposed the corrupt deal in Sept. 2025. The NPP run Parliament ignored the disclosure made by the JVP breakaway faction.
Chandrasekera said that the Committee asserted that it would cost approximately Rs 80 mn to restore the LVPP to the previous status. Responding to The Island queries, Chandrasekera emphasised the country couldn’t meet the power requirement unless the LVPP operates without hindrance. Those who had been, for whatever reason, switched to South African coal provided by the Indian supplier should be held accountable and punished, Chandrasekera said, recalling how the NPP parliamentary group defeated the no-confidence motion moved against the then Power Minister Kumara Jayakody, who later quit, as the enormity of the scam and its repercussions shook the government.
Chandrasekera said that the government couldn’t maintain services though the powers that be intended to meet the power deficit with the help of hydropower generated by the Victoria power station. The ex-official underscored the need to inquire into the failure of the authorities to implement the backup plan last Saturday. Had Victoria met the requirement, last Saturday’s countrywide power failure, that lasted from 11.43 am to 11 pm could have been averted, Chandrasekera said.
He also questioned the controversial government decision to disconnect solar power over the weekend as the absence of solar generation obviously aggravated the problem. Chandrasekera emphasised that the latest countrywide power outage exposed the government whose basic strategy was to blame everything on the Opposition.
“We sincerely hope the Presidential Commission inquiring into the coal scams also looks into the situation developing at LVPP due to the use of substandard coal. According to him, the loss caused by the recent outage was estimated to be around Rs 16 bn and the crisis could not be addressed by propaganda campaigns, especially on social media. But, if other factors, including the expenditure on hydro and thermal generation were taken into consideration, the losses could be as much as Rs 20 bn.
News
Power cuts continue
Power cuts continued across the country yesterday and are expected to continue today following the shutdown of all three generating units at the Lakvijaya Power Plant in Norochcholai.
The Public Utilities Commission of Sri Lanka (PUCSL) said approval had been granted on Monday (19) following a request by the National System Operator (NSO) to impose scheduled power cuts.
Accordingly, one-hour power cuts were scheduled between 4.30 p.m. and 9.00 p.m., with the country divided into four zones. Hospitals and locations providing essential services were exempted.
The three Norochcholai generating units remain out of operation following the countrywide power failure last Saturday, prompting the NSO to introduce daily power cuts to manage the available electricity supply.
NSO Chief Executive Officer Buddhika Samarasekara said the power cuts would be necessary yesterday and today (21).
News
GL stresses importance of post-war Shangri-La investment after CIABOC questions him
By Shamindra Ferdinando
Prof. G. L. Peiris yesterday said he had not been concerned at all about being arrested when the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) summoned him to record a statement regarding an ongoing investigation.
Addressing the media outside the CIABOC, the former External Affairs Minister emphasised that his family had never taken anything from people but contributed to their welfare. The internationally renowned academic said that he didn’t accept lucrative opportunities abroad but remained committed to do whatever possible for the public here.
The CIABOC questioned Prof. Peiris on the launch of the Shangri-La Hotel project here. The Convener of the Janathawadi Joint Opposition said that when the top management of the hotel got in touch with
him, he had brought the matter to the notice of the then President Mahinda Rajapaksa, who promptly gave the go ahead.
Shangri-La was opened in Nov. 2017 with the participation of the then President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.
Prof. Peiris said that he had been appointed External Affairs Minister nearly a year after the successful conclusion of the war against the LTTE in May 2009. Shangri-La, which owned over 100 hotels at that time, was keen to explore the possibility of opening a hotel here and the government had swiftly grabbed the opportunity. Referring to the opening of ITC Ratnadeepa, in late April 2024, Prof. Peiris explained the importance of foreign investment, particularly after the end of the 30-year war that caused massive devastation.
Responding to media queries, Prof. Peiris said that he strongly opposed efforts to silence political opponents but accepted the need to investigate waste, corruption and irregularities. “People shouldn’t be targeted over their political stand,” the ex-lawmaker said, adding that he as the Minister tasked with attracting such special investments worked in line with the overall government policy.
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