Business
Ceylinco Insurance Selected as Sri Lanka’s Most Respected Insurer for yet another year
Rated amongst the top ten in six out of twelve attributes
Ceylinco Insurance was placed in the 11th position amongst the nation’s Most Respected and Admired Corporates for the year 2022 and thus becomes the Most Respected Insurer in Sri Lanka for yet another year, the company said last week in a news release.
Ceylinco Insurance PLC comprises the two dominant insurers in the country, Ceylinco General Insurance Ltd and Ceylinco Life Insurance Ltd. Both, Ceylinco General Insurance and Ceylinco Life Insurance maintain their dominance as market leaders in General and Life Insurance respectively. In the attributes rankings, Ceylinco Insurance is placed
Fifth in HR & People Management,
Seventh in both Corporate Culture and Management Profile, Ninth in Crisis Management and 10th in Financial Performance and Quality Consciousness, the release said. Ceylinco Insurance is also placed amongst the top ten in six of the 12 attribute rankings. This was announced by the LMD magazine in its 18th annual edition of the nation’s Most Respected and Admired Entities. The results are based on a survey conducted by LMD together with Nielsen IQ with a well-informed sample of 800 respondents who hold management positions in listed companies.
Mr. Ajith Gunawardena, Executive Chairman and Chief Executive Officer of Ceylinco Insurance PLC said, “We are proud and also humbled to be amongst the nation’s top corporates and express our gratitude to each and everyone for nominating us. Your recognition encourages us and we are even more committed to offering innovative and customer-centric products and services that enhance the lives of the people of our nation.
“As a corporate entity that believes in offering innovative and customer-friendly solutions, our continuous search for excellence in customer service and commitment has enabled us to become a livewire of innovation and creativity. Most of our innovative products have reached the grassroots level and their benefits have been reaped by people who would have never thought of getting insurance if it were not offered through channels close to them.”
Mr Rajkumar Renganathan, Chairman of Ceylinco Life said: “A core precept at Ceylinco Life is that respect like trust must be earned, nurtured and built on through our actions. Seventeen consecutive years of market leadership in an industry that is heavily dependent on trust attests to the fact that Ceylinco Life has lived by this credo.
“As the largest life insurance company in Sri Lanka, Ceylinco Life is de-risking the future of millions of people – our policyholders and their families – and has never compromised on its mission or its core values. We not only honour every legitimate claim, but we also do so quickly and unobtrusively. Additionally, our persistent efforts to promote professionalism in the industry has helped change the perception of the life insurance salesperson and also contributed to the respect we have earned.”
Mr. Patrick Alwis, Chairman /Chief Executive Officer of Ceylinco General commented, “The Ceylinco VIP brand is synonymous with customer-centricity combined with speed in delivery and this accolade reflects the values we uphold with our customers. Our willingness to pay claims within the shortest possible time has enhanced our brand equity. Our Company is founded on the principles of delivering protection and financial security together with customer satisfaction and we remain committed to providing industry-best insurance solutions to cater to every need of customers from all walks of life. We always strive to give back to our society a part of what we earn. “
Ceylinco Life’s Managing Director/CEO Mr Thushara Ranasinghe said: “Even though respect can be subjective, it is extremely valuable for any business, and particularly so for those in the financial services sector. Our mission is to de-risk the ambitions as well as the futures of our policyholders, which entails a long-term relationship built on confidence, the bedrock of which is trust and respect. Being voted the most respected insurance company in Sri Lanka for many years is therefore more than an accolade, it is a barometer of our success in building strong relationships with the people of our country.”
Earlier this year, Ceylinco General Insurance and Ceylinco life Insurance were chosen as the ‘People’s Insurance Brand of The Year’ for General and Life Insurance respectively at the 2022 SLIM Kantar People’s Awards for an unprecedented 16th consecutive year.
Business
Shark and Ray Karawala
When we buy shark dry fish (Mora Karawala), do we really know what species we are consuming? What if endangered sharks are hiding in our meal? Most consumers are unaware.
In Sri Lanka, dried fish is more than food; it is a flavour, a tradition and a way of life. Affordable, long-lasting, and rich in taste, it has become a staple across the island, mainly in rural communities, the dry zone, and hill country. While most fish are eaten fresh, about 14% of the catch is preserved through age-old methods, such as salting, sun drying, smoking and fermentation. Whether served as a main dish (Karawala) or as a flavourful condiment (Umbalakada), dried fish has secured a special place on Sri Lankan plates.
Today, nearly two-thirds of the demand for dry fish is met locally, with dried sharks being the most common and popular in markets. And many people believe that milk sharks are particularly nutritious for lactating mothers.
Typically, part of the excess fish supply in peak seasons, fish arrive late from multiday fishing boats, fish from the bottom of nets, fish that are susceptible to quick spoilage or have low market appeal, are used to produce dry fish rather than letting this resource go to waste. In many coastal villages, drying fish is carried out at the fishing “waadi” (fishing villages/houses) level, often led by women as a means of earning supplementary income.
- Salting (not an elasmobranch
- Cutting rays into pieces prior to salting
But this comes with a cost. Sharks and Rays are slow-growing, late maturing and producing only a few young cannot keep up with rising demand. Sharks and Rays are captured by large-scale artisanal fisheries and often retained as bycatch. Mainly exploited for their meat and other derivatives, including gill plates, fins, and skins. Overfishing has pushed their populations into serious decline.
In Sri Lanka, over 60–70% of shark and ray species are threatened with extinction according to the IUCN Red List, with many others listed as Data Deficient — meaning their true status may be even worse. Only a handful of species might be considered less at risk, but even those assessments are uncertain.
Once dried, it becomes nearly impossible to identify which species are being sold. Drying removes distinguishing features, making it impossible to verify the species or ensure sustainability. Labelling is virtually non-existent, and consumers have no reliable way to tell which species they are purchasing.
This means endangered sharks are likely ending up on plates across the country — without anyone realising it. Given the high proportion of threatened species and the lack of transparency, the safest and most responsible choice is to avoid all shark-based dried fish entirely.
By choosing alternative dried fish products made from more sustainable species, we can protect Sri Lanka’s marine biodiversity and ensure that our cultural traditions remain part of a future where sharks still swim in our oceans.
About the Author:
Apsara Rupasinghe, a zoologist with a BSc (Hons) Degree in Zoology, is pursuing MPhil research on shark and ray genetics at BRT-FiPo, with a background in conservation genetics and population genetics. Her work involves combining genetics and conservation to improve species identification and protect endangered elasmobranch species. Apsara pays special attention to the dry fish industry in Sri Lanka as part of her research.
by Apsara Rupasinghe
(Researcher, Fisheries and Policy Programme, Blue Resources Trust)
Business
SPAR Sri Lanka opens first Kandy outlet, redefining modern retail in hill capital
SPAR Sri Lanka marked a significant milestone with the opening of its 12th outlet—its first in the historic city of Kandy and only the second outside the Western Province. Established in 2018 as a joint venture between SPAR South Africa Group and Ceylon Biscuits Limited, SPAR Sri Lanka combines global expertise with strong local roots.
Speaking at the launch, CEO of SPAR Sri Lanka highlighted the cultural and commercial significance of Kandy, noting that the brand’s aim is “not just to open a store, but to serve the community in a meaningful and relevant way.”
The Kandy outlet offers over 6,200 products, with nearly 3,900 locally sourced, supporting farmers, producers, and SMEs, while the remaining range includes imported SPAR international brands. Innovative features such as a dedicated pet care section, TOPs liquor store, pharmacy, and banking facilities create a one-stop lifestyle destination.
SPAR Sri Lanka is also fostering youth employment and professional development, providing structured training programs to equip staff with globally recognised retail skills. The store has created over 50 jobs in the region and supports local suppliers in meeting international standards, opening doors for broader market access.
With its SPAR2U online platform and SPAR Rewards app, customers can enjoy convenience and value, while the company’s ecosystem approach supports retailers, suppliers, and communities alike. The brand’s next expansion is scheduled in Kurunegala, underscoring SPAR Sri Lanka’s vision of reshaping retail while uplifting local economies.
Text and Pic By S.K Samaranayake
Business
Sri Lanka Insurance Life Honoured at Great Managers Awards, Becoming First SOE to Achieve this Recognition
Sri Lanka Insurance Life (SLIC Life) was recognised at the prestigious ‘Great Managers Awards 2025’, held on 26th March 2026 at Cinnamon Grand, Colombo, marking a significant milestone as the first State-Owned Enterprise (SOE) to receive this recognition.
Organised by CLA Coaching in collaboration with the Colombo Leadership Academy, the awards recognise organisations and individuals who demonstrate excellence in leadership and managerial effectiveness, benchmarked against global best practices through a rigorous evaluation process.
Sri Lanka Insurance Life was recognised under the category of ‘Companies with Great Managers’, reflecting its commitment to nurturing leadership talent and building a culture that supports sustainable performance and people development.
Several SLIC Life team members were also honoured across multiple categories, highlighting the depth of leadership within the organisation. Duminda Pieris, Assistant General Manager/Zonal Head, was recognised for Driving Results and Execution Excellence, while Chaminda Athauda, Deputy General Manager – Life, received recognition for Aligning Organisational Vision. Jagath Welgama, Deputy General Manager – National Sales, and Manjula Darmaprema Branch Manager – Pilimathalawa were acknowledged for Building Team Effectiveness and Collaboration. Amali Gomez, Manager – Corporate & Marketing Communications, was recognised for Integrality and Holistic Approach. Ruchira Edirisinghe, Brand Manager, and Uththara Kapugamage, Manager – Employee Engagement, were both recognised as Great Millennial Managers.
Commenting on the achievement, Nalin Subasinghe Chief Executive Officer of Sri Lanka Insurance Life stated: “We are truly humbled and honoured to be recognised at the Great Managers Awards 2025, especially as the first State-Owned Enterprise to receive this accolade. This achievement is a testament to the strength, dedication, and professionalism of our team, who continue to demonstrate exceptional leadership across all levels of the organisation. We take great pride in this collective success.” He further added, “We also commend this initiative for its role in encouraging organisations to nurture and develop future leaders. Platforms such as these are vital in shaping strong leadership cultures that drive sustainable business success and industry-wide progress.”
This recognition underscores Sri Lanka Insurance Life’s ongoing commitment to developing its people, strengthening leadership capabilities, and fostering a high-performance culture that contributes to long-term organisational success.
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