Business
LOLC Group records historic profitability
Fulfilling its ambition of being a multinational, the LOLC Group recorded an upsurge in profits by as much as 46% over the previous year to deliver a Profit before Tax of Rs. 83.8Bn and Profit After Tax of Rs. 77.8Bn for the financial year ended 31st March 2022. The Total Comprehensive Income of the Group reached Rs. 161Bn, which is unparalleled in the history of any Sri Lankan corporate entity. As the most diversified conglomerate in Sri Lanka, the LOLC Group’s strong global expansion is gaining traction as it rapidly widens its global footprint across the 2 continents of Asia, including Central Asia and Africa, across financial services, leisure and plantations.
A key highlight of its historic profitability this year is that the Group derived a major portion of its revenues from its global operations, without being reliant on local operations or for that matter any one market. Amidst the economic and political disruptions being witnessed around the world, its global diversification plan ensures that the LOLC Group can sustain its upward trajectory without any adverse impact.
Commandeering a lion’s share of the local financial services market in Sri Lanka and becoming the nation’s most diversified conglomerate, LOLC Group made its initial investment into Cambodia way back in 2007 – and has since established a firm footprint in many countries including Cambodia, Myanmar, Indonesia, Philippines and Pakistan in South and South East Asia. Once ongoing negotiations are completed, the Group has planned an investment pipeline into the giant market offered by India. In Central Asia, the LOLC Group is present in Tajikistan and Kyrgyzstan while being poised to enter Uzbekistan and Kazakhstan.
On the African continent, the LOLC Group is already present in Nigeria, Zambia, Zimbabwe, Malawi, Tanzania, Kenya and Egypt. In its latest plans, the Company is looking to enter Democratic Republic of Congo (DRC), Ghana, Uganda and Rwanda.
Building on its plantation management expertise, the Group operates sugarcane plantations in Sierra Leone. Sunbird Sierra Leone Limited (SBSL) is a large agro-based company with 23,500 hectares of land, with the option to increase it to 50,000 Ha, along with a sophisticated production facility which produces Extra Neutral Alcohol (ENA). SBSL has a production capacity of 100,000 liters of ENA per day and 380,000 liters of Bio ethanol per day.
Meanwhile, the Group recently acquired luxury leisure property in Mauritius, the Radisson Blue with 100 keys, and will soon be the largest leisure operator in the Maldives, expecting to add 1,077 keys to the market soon. The property developments nearing completion in Maldives are the Nasandhura Palace Hotel with 135 keys and 118 apartments; Bodufaru – 470 keys; Browns Ari Resort – 100 keys; and Browns Raa atoll and STO Hulumale with 254 keys.
In Sri Lanka, the Group commands a room capacity of 909 keys with a further capacity of 363 keys under construction and is among the largest leisure operators in the country. The leisure properties in Sri Lanka consists of Eden Resort and Spa; Occidental Paradise Dambulla; Sheraton Kosgoda Turtle Beach Resort; The Calm Resort & Spa; Dickwella Resort and Spa with; the Elephant Corridor; Avani Kalutara; Club Hotel Dolphin and Hotel Sigiriya with, while Riverina Hotel is under construction with 363 keys. The Reveal Collection includes luxury bungalows, Ubuntu, the Beach House, Lantern Beach House Mirissa and Lavender House Pussellawa. The leisure business is further complemented with the destination management arm of the Group, Ceylon Roots, providing inbound travel services.
(LOLC Group)
Business
AIA delivers strong first half results in 2026; double-digit growth across key financial metrics
The Board of AIA Group Limited (the “Company”) is pleased to announce the Group’s financial results for the six months ended 30 June 2026. Growth rates are shown on a constant exchange rate basis unless otherwise stated:
New business performance and embedded value
Value of new business (VONB) of US$3,212 million, up 10 per cent overall and 14 per cent excluding Thailand(1)
Record high annualised operating ROEV of 18.0 per cent, up from 15.8 per cent in full year 2025
EV Equity of US$83.4 billion, up 6 per cent per share over the first half on an actual exchange rate basis
IFRS earnings
Operating profit after tax (OPAT) of US$4,163 million, up 13 per cent per share
AIA now expects to exceed OPAT per share CAGR target of 9 to 11 per cent from 2023 to 2026(2)
Record high annualised operating ROE of 17.5 per cent, up from 15.5 per cent in full year 2025
Cash generation and capital returns
Underlying free surplus generation (UFSG) of US$3,935 million, increased by 10 per cent per share
Net free surplus generation (net FSG) of US$2,758 million, up 12 per cent per share
US$3.6 billion returned to shareholders in the first half through dividend and share buy-back
Interim dividend increased by 10 per cent to 53.90 Hong Kong cents per share
Lee Yuan Siong, AIA’s Group Chief Executive and President, said:
“AIA has delivered another strong performance in the first half of 2026, with double-digit growth across our key financial metrics, while continuing to return substantial capital to shareholders. VONB reached a record high of US$3.2 billion with growth across all distribution channels, and all reportable segments excluding Thailand. The Group has achieved 17 per cent CAGR since the first half of 2023(3), demonstrating consistently strong demand for AIA’s professional advice and differentiated products.
“At the core of our unrivalled distribution platform is our market-leading Premier Agency. I am delighted that AIA has once again been ranked the number one Million Dollar Round Table (MDRT) multinational company globally. We have held this position for a record 12 consecutive years and we have more than double the number of MDRT members of our nearest competitor. In the first half of 2026, our Premier Agency achieved strong VONB growth of 11 per cent excluding Thailand(1). Our extensive network of strategic distribution partners further expands our market reach and generated an 18 per cent increase in VONB, supported by very strong performance in both the bancassurance and independent financial adviser (IFA) and broker channels.
“Strong new business, together with disciplined management of our in-force portfolio, has supported sustained growth in recurring earnings with OPAT per share up by 13 per cent in the first half. As a result, we expect to exceed our 9 to 11 per cent OPAT per share CAGR target for 2023 to 2026(2). UFSG, the Group’s core measure of operating cash generation, increased by 10 per cent per share. After allowing for new business investment, net FSG increased by 12 per cent per share. In accordance with our prudent, sustainable and progressive dividend policy, the Board has declared a 10 per cent increase in the interim dividend to 53.90 Hong Kong cents per share. These achievements demonstrate that our financial strategy is working as intended.
“Asia remains the most compelling growth opportunity for life and health insurance. Powerful structural tailwinds across the region continue to create substantial demand for our professional advice and differentiated products and underpin the exceptional long-term prospects for AIA’s business. I am confident that AIA’s disciplined execution of our strategic priorities will continue to deliver long-term sustainable value for all our stakeholders.”
Business
British Council Sri Lanka launches soft skills workshops to elevate learning and empower communication
The British Council Sri Lanka has launched Corporate English Solutions (CES), tailored to the Sri Lankan corporate and education ecosystem, aimed at helping organisations strengthen workplace communication and professional development.
The launch event took place recently at the NH Collection, Colombo 3, gathering corporate partners, clients and education stakeholders throughout the country.
CES extends the British Council’s long-standing work in English language education and teacher training into a dedicated offering for the corporate sector. The launch introduced two new components to the British Council’s presence in Sri Lanka such as public workshops and teacher training programmes, open to learners and educators beyond the organisation’s existing corporate and academic partners. Guests at the event were shown a short video introducing Corporate English Solutions before the formal proceedings began.
Talal Meer, British Council Regional Business Development Director, South Asia, welcomed guests and introduced the British Council’s team in Sri Lanka. In his remarks, Meer set out the scope of the CES launch, covering the introduction of public workshops in Sri Lanka, the rollout of teacher training programmes, and an overview of the CES product portfolio. Meer’s role covers educational partnerships in the South Asia region, and his address framed the Sri Lanka launch within the British Council’s broader regional strategy.
Business
Ogilvy Group tops award tally at ‘Dragons of Sri Lanka’ 2026
Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies. Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.
Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.
Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.
Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”
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