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AIA Insurance globally recognised as the Best Life Insurance Company in Sri Lanka, yet again

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What makes a company the best? Is it it’s strength, stability and reputation? Is it the force of an exceptional team that drives it? Perhaps its unrivalled innovation and agility? Or more so, the fact that it goes above and beyond in what it offers its stakeholders. Maybe its world-class standards and exposure with in-depth local understanding? And certainly, its commitment to the community and society that surpasses just business objectives. Indeed, it is all of these and that’s how and why AIA Insurance has been recognised as the Best Life Insurance Company in Sri Lanka, for the fourth year.

Awarded by internationally acclaimed Capital Finance International for 2022, this is testimony to the significant contribution made by AIA to Sri Lanka’s life insurance industry in terms of its innovative and inclusive products and propositions, superlative customer experience, community investment initiatives and workforce empowerment.

Last year was no doubt a trying year for Sri Lanka with an unprecedented social and economic backdrop. Despite it being an economically challenging time for all businesses, AIA was determined to be there for Sri Lanka and her people when it was most needed. As such the company’s focus on societal endeavours took precedence. Be it renovating underprivileged schools and hospitals around the island or providing support to underprivileged and vulnerable children and elders, AIA’s priority was giving back to the community.

The company managed many societal endeavours during the last year, including projects with HelpAge Sri Lanka, SOS Children’s Villages Sri Lanka, Sri Lanka Cancer Society, Lanka Alzheimer’s Foundation, Department of Probation and Childcare Services, not to forget AIA’s flagship CSR projects, the National Poson Safety Programme and Higher Education Scholarships, which are two of the longest standing projects in the country.

The company remained committed to enhancing the customer experience, while increasing efficiency and convenience through new and improved digitalized processes.  As a company pioneering digital transformation in the industry, AIA has launched many industry firsts including a modern human centric point of sales (POS) solution, cloud-based workflow automation, robotic process automation, cloud-based strategy, remote digital signatures for customer onboarding and advanced analytics for intelligent decision making. AIA’s efforts towards going paperless has further established its green commitment while also ensuring faster, better connectivity with customers.

Boasting the highest calibre of agents, AIA’s sales force is part of the world’s #1 MDRT life insurer, that being AIA Group. With this strength, AIA’s team of sales professionals have world-class training, exposure and insights that help them deliver a superlative service to customers.

While providing protection to customers at every stage of their lives, AIA offers a wide range of retirement, health, protection and savings solutions for all Sri Lankans. The product suite is designed and enriched by not only an in-depth understanding of the needs of the local customer, but also an expertise acquired in over a hundred years of experience in Asia. The health space is yet another important area for AIA and the company is very active through not only products, but overall propositions, and stands as a firm pioneer in this space. As AIA embraces the brand promise of helping people live healthier, longer, better lives, its mission is to proactively enable and support its customers to be physically and mentally secure as well. Having partnered some of Sri Lanka’s most reputed wellness partners including Doc990, My Dentist, Vida Medical Clinic and Teardrop hotels, AIA is the only insurer in Sri Lanka to offer customers an eco-system of wellness propositions to help them stay active, healthy and happy.

Helping to stay healthy and happy is further extended to its employees as well, and the company earned the LEGEND title for been recognised as a Best Workplace in Sri Lanka for the tenth consecutive year. In 2022, the company was also adjudged one of the Best Workplaces for Women in Sri Lanka for the fifth straight year, by Great Place to Work® and as one of the Most Outstanding Women Friendly Workplaces by Satynmag.com and CIMA Sri Lanka. To top it all, AIA was also recognised as one of the top 10 Best Workplaces in the Banking, Financial Services and Insurance (BFSI) industry in Sri Lanka last year.

Throughout it all, the company maintained its financial stability, despite the economic challenges and remained strongly capitalised with a shareholder’s equity of LKR 18.4 billion by end 2022, and one of the highest Capital Adequacy Ratios in the industry which amounted to 402% by end 2022. This demonstrated the ability of AIA to withstand risk and crisis in the operating environment and deliver their promise to customers consistently. This is supported by the company’s prudent investment strategy which focuses on high quality investments. AIA has always exceeded customer expectations and has a track record of over 30 years of delivering above the promised customer dividends.

All these combined has established AIA as a truly world-class company with deep and rooted local insights that help it go above and beyond life insurance, to be a partner, a friend, a family to its customers- and that is what makes AIA the best life insurance company in Sri Lanka.

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A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy

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Transport Minister Bimal Rathnayake and Indian High Commissioner Santosh Jha at the plaque unveiling ceremony for the Moragahakanda Bridge project, supported by Indian grant assistance.

By Sanath Nanayakkare

An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.

Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.

Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.

Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.

From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.

What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.

Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.

The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:

Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.

Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.

Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.

By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.

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Bring your own bag to book fair, CEA urges

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By Ifham Nizam

The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.

CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.

“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.

The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.

The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.

The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.

The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.

These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.

The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.

The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.

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Japanese investor Yoshimichi Watanabe backs Hunas Holdings

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Yoshimichi Watanabe / Tanaka - Director Hunas Holdings PLC

Partnership signals renewed foreign investor confidence in Sri Lanka as a destination and in the long-term growth of its hospitality sector

Japanese investor Yoshimichi Watanabe has entered into a partnership with Colombo Stock Exchange-listed Hunas Holdings PLC, in a move that comes as the diversified conglomerate prepares a significant expansion of its hospitality and real estate interests in Sri Lanka.

The partnership brings foreign capital and international market experience into one of Sri Lanka’s fastest-diversifying listed groups at a point when the Group is actively building out its pipeline across both sectors. Hunas Holdings is currently evaluating a series of hospitality and real estate developments in Sri Lanka, with further announcements expected in the coming months.

Hunas Holdings PLC operates across hospitality and leisure, real estate, renewable energy and agriculture, with a hotel portfolio that includes Hunas Falls in Elkaduwa

For Sri Lanka, the significance of the partnership extends beyond the two parties. Inbound investment of this nature, from an investor with direct and sustained experience of the market, is a measure of returning confidence in the country as a destination and in the underlying fundamentals of its hospitality sector, at a time when the industry is repositioning towards higher-value, experience-led travel.

Watanabe brings investment experience across e-commerce, hospitality and real estate in Japan and in international markets including Bali, Indonesia. He has also maintained a relationship with Sri Lanka over many years, having made multiple investments in the country, giving him first-hand insight into its business environment, regulatory landscape and long-term potential.

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