Business
Sri Lanka Insurance posts a record profit of Rs. 11.7 billion before taxation for the year 2021
Secures the title of Most Loved Brand in both business categories Life & General insurance by Brand Finance for the fifth consecutive year
Secures the Most Valuable General Insurance Brand in the country by Brand Finance for the fifth consecutive year
Secures the Number 1 position in the General Insurance Category on the country
The national insurer Sri Lanka Insurance (SLIC) yet again recorded stellar performance in the year 2021 to record a profit before taxation of Rs. 11.7 billion for the year 2021, with a strong improvement in combined Gross Written Premium (GWP) of Rs. 43.2 billion denoting a growth of 9.7%.
Notwithstanding the stringent economic and social conditions that prevailed in the country, SLIC’s asset base increased to Rs.268 billion and the Life fund to Rs. 152 billion to uphold the position as the largest and strongest insurer in the country.
Further although placed on a negative watch as all other local insurers, due to the current economic situation of the country Sri Lanka Insurance managed to retain AA (lka) Fitch rating for long term financial stability. SLIC is the only insurer to be certified with an AA (lka) rating.
In another achievement, SLIC secured the ‘Most Valuable General Insurance Brand’ and the ‘Most Loved Insurance Brand’ of the year for the fifth consecutive year by Brand Finance, reaffirming the insurer’s people-centric approaches taken over the past years.
In 2021 SLIC reported a 14.1 % growth in life insurance premiums rising to Rs. 21.9 billion from 19.3 billion the previous year. In 2021, SLIC surpassed its own record to declare a sum of Rs.8.6 billion as a bonus to policyholders. The cumulative life insurance bonus paid out during the past 15 years tops a massive Rs.73.2 billion making the SLIC bonus payout unmatchable.
Sri Lanka Insurance General, The top General Insurance provider in the country leads the local General Insurance market by reporting a 5.4% premium growth increasing to Rs.21.2 billion.
SLIC continues to explore avenues to provide protection to communities, segments and age groups and different affinity groups through product and market development initiatives, through practical and affordable insurance solutions. The strength of its extensive branch network of 190 branches and customer service locations together with 8000 Advisor network serves beyond the mandate of insurance to provide protection to the people of this nation, it said in a news release.
Commenting on the excellence achieved during the year SLIC Chairman Vijitha Herath noted “The past year brought us countless challenges as well as opportunities to extend our service further and fulfil our duty and responsibility to the country as the protector of the nation. As we celebrate the 60 years of excellence and step into an era of transformation we continue to uphold the legacy we built as the trusted insurer. We continue to contribute to shaping the economic and social landscape of Sri Lanka and safeguard the people of this nation as the pioneer of the insurance industry of Sri Lanka. We reiterate the trust garnered through generations as the largest and strongest insurer and we continue adding value to all our stakeholders evolving ourselves to conquer greater heights.”
Chief Executive Officer Chandana L. Aluthgama noted, “Amidst the highly competitive market conditions and dynamic consumer patterns we have yet again demonstrated our resilience and prudent strategic practices to record a phenomenal financial result for the year 2021. We were able to accelerate our strategic initiatives to enhance digital integration and deliver exceptional service levels to our stakeholders. Looking at the future ahead we are constant in our efforts to increase internal efficiencies and productivity improvements through more curated strategies to be a future-ready insurer.” (SLIC news release)
Business
Dialog & IESL open National Startup Challenge to empower Sri Lanka’s entrepreneurs
Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, joins the Institution of Engineers, Sri Lanka (IESL) to launch the IESL National Startup Challenge, creating a national pathway for aspiring entrepreneurs to transform innovative ideas into commercially viable, investment-ready startups. The initiative reflects a shared commitment to strengthening Sri Lanka’s entrepreneurship ecosystem through structured development, expert mentorship and practical support that enables promising ideas to progress towards market readiness and scale.
Launched through the IESL Entrepreneurship Forum at the Dialog Auditorium on 5 October 2026, the competition invites Engineering Undergraduates, Engineering Practitioners and participants in an Open Category for Non-Engineers to submit ideas across 12 innovation verticals aligned with national priorities, emerging technology and market trends, and inclusive innovation. Participants will progress through idea development, pitching, incubation, prototyping, validation, minimum viable product development and business scaling, supported by industry experts, mentors and ecosystem partners. The programme will culminate in a Top 10 selection, with the first-place winner receiving an award of LKR 1 million.
As title sponsor and a key ecosystem enabler, Dialog is contributing practical expertise and resources beyond sponsorship, providing technical expertise, mentors and digital resources to help participating teams develop, validate and scale their solutions. Each of the Top 10 teams will also receive a Dialog Digital Startup Support Package valued at LKR 250,000, comprising selected Dialog digital products and services.
“Dialog is committed to enabling Sri Lanka’s next generation of innovators by connecting entrepreneurial ambition with the technology, expertise and practical resources needed to turn ideas into scalable ventures. Through the IESL National Startup Challenge, Dialog is extending its digital capabilities, mentorship and ecosystem support to help promising teams progress from concept to validation and investment readiness,” said a representative of Dialog Axiata PLC.
Eng. Jasmine Nanayakkara, Chairperson of the Entrepreneurship Forum at the Institution of Engineers, Sri Lanka, added, “The IESL National Startup Challenge is designed to turn innovative ideas into viable businesses by connecting aspiring entrepreneurs with industry expertise, mentorship and continuous practical support. More importantly, it is about creating an ‘Engineer to Entrepreneur’ transformation and nurturing a stronger entrepreneurial culture within the IESL community. By encouraging our engineers and aspiring founders to create, commercialise and scale solutions, we aim to contribute to new ventures, new opportunities and meaningful job creation for Sri Lanka’s skilled and educated next generation. We are grateful to Dialog for partnering with IESL to create this pathway for innovation, entrepreneurship and national economic growth.”
Driving innovation across Sri Lanka, the National Startup Challenge also brings together a strong network of partners, including The Ceylon Chamber of Commerce as Ecosystem and Mentoring Partner, Helago as Official Mobility Partner, Helakuru as Official Digital News Partner, and Real Life as Official Climate Action Partner.
The IESL National Startup Challenge represents a collaborative effort to strengthen Sri Lanka’s innovation and entrepreneurship ecosystem by creating a structured pathway from promising ideas to market-ready businesses. Applications are now open via www.iesl.lk/announcements, giving aspiring entrepreneurs an opportunity to access the resources and funding they need to succeed. Applications close on 16th November 2026. For more information, contact mgr.pub@iesl.lk / 071 109 4393.
Business
Why Convenience Is Reshaping Household Cleaning Habits
Keeping a home clean involves more than dealing with one kind of mess. Kitchens face grease and cooking splashes, bathrooms develop soap scum and limescale, while frequently used areas around the home collect marks, fingerprints and everyday dirt.
For households looking to simplify this routine, multi-surface cleaners offer a practical solution by allowing one product to tackle multiple cleaning needs across suitable surfaces.
One home, many everyday messes
In the kitchen, grease, splashes and burnt-on food can build up around hobs and hotplates. Cupboard doors and appliance exteriors can also collect smudges and marks through daily use.
Bathrooms present different challenges, including limescale, soap scum, toothpaste residue and water marks around sinks, washbasins and shower doors.
Even outside these rooms, surfaces such as door handles, baseboards, table mats and PVC areas can require regular attention.
Making everyday cleaning simpler
This is where the versatility of products such as CIF Cream becomes useful.
CIF Cream can help tackle a range of common household cleaning challenges across suitable surfaces, from grease and burnt-on food in the kitchen to limescale and soap scum in the bathroom.
Its uses can also extend to other suitable areas and items around the home, including cupboard doors, appliance exteriors, PVC surfaces and more, when used according to product directions.
For busy households, the benefit is straightforward: a versatile cleaner can help reduce the complexity of everyday cleaning by addressing several common cleaning needs with one product.
Consumers should always follow product instructions and check suitability before using any cleaner on a particular surface.
CIF products are now available at Cargills, Keells, Glomark and Celeste, as well as online through Daraz and uStore, at a retail price of Rs. 900 for 500ml. Shop CIF online at https://ustore.lk/collections/cif or https://www.daraz.lk/cif/
As household routines continue to evolve, multi-surface cleaning provides a simple approach to keeping different areas of the home clean — one versatile solution for many of the everyday messes that come with daily life.
Business
Dreams in motion for group of young Olympiad contenders
SriLankan Airlines set dreams in motion for 24 young students selected to represent Sri Lanka at the 2026 International Mathematics and Science Olympiad, held in Indonesia from 2 to 7 October 2026, helping make their journey to Indonesia and back an extra special one.
The students were selected through a four-stage national selection process covering school, zonal, provincial and national levels, with the highest-performing students progressing at each stage.
As a special initiative for Children’s Day, the Ministry of Education sponsored the air travel of all 24 students for the first time. Returning to Sri Lanka with an impressive haul of three Silver Medals and 10 Bronze Medals, the young contestants competed alongside students from 23 countries.
SriLankan Airlines was privileged to be part of their special journey, helping make their experience even more memorable as they represented Sri Lanka on the international stage.
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