Business
IASL introduces office bearers for the 2024/25 tenure
The Insurance Association of Sri Lanka (IASL) the representative body of the insurance industry in the country has announced the reappointment of its esteemed office bearers for the year 2024/25. The reappointment comes as a testament to the dedication, expertise, and commitment demonstrated by these individuals towards advancing the insurance industry in Sri Lanka. The event took place on the 27th of March, 2024 at the Annual General Meeting. Subsequently the sub-committee members were also appointed for the said term at the IASL Executive Committee Meeting which was held on the 3rd of May 2024.
Chandana L. Aluthgama Group Chief Executive Officer of Sri Lanka Insurance continues as the President, Lasitha Wimalaratne Chief Executive Officer of HNB Assurance PLC as Vice President, Tanuj Edward Chief Executive Officer of Orient Insurance Limited as the Secretary and Nadika Opatha Chief Executive Officer of LOLC Life Assurance as Treasurer of IASL. J M Niyas holds his position as Secretary-General of IASL.
The Executive Committee of the IASL, along with its Subcommittee, prioritize crucial industry matters and emerging developments, embodying a commitment to addressing them proactively. This is encapsulated by the Legal Affairs Committee, chaired by Kushan Weththasinghe Senior Assistant General Manager – Legal Ceylinco Life Insurance Limited, Marketing & Sales Forum chaired by Namalee A Silva Chief Business Officer of Sri Lanka Insurance Corporation Life Ltd, IT Sub Committee chaired by Nuwan Hettiararachi Chief Information Officer Continental Insurance Lanka Limited, Actuarial Sub Committee chaired by Rishikulya Gunasehera, Assistant General Manager – Actuarial Services – Ceylinco Life, General Insurance Forum chaired by Sidantha Karunaratne, Deputy Chief Officer Continental Insurance Lanka Limited, HR Sub Committee chaired by Rohitha Amarapala, Deputy General Manager – Human Resources & Administration Sri Lanka Insurance Corporation Life Ltd, Finance & Technical Sub Committee chaired by Sampath Thusara Chief Financial Officer AIA Insurance Lanka Limited and Life Insurance Forum chaired by Mahendra Wilegoda, Head of Life Operations HNB Assurance PLC.
Currently, the IASL boasts a membership comprising all 28 registered insurance companies. The association operates under a unified vision, striving to unite insurers and establish a collaborative platform for addressing matters pertinent to their collective interests and well-being. Synonymous with its mission is the commitment to safeguarding the Sri Lankan public through comprehensive insurance coverage, ensuring protection for all.
Business
Business, healthcare and civic leadership unite to drive Sri Lanka’s fight against cervical cancer
In a powerful demonstration of how responsible business, public healthcare and civic leadership can work together for national good, Sri Lanka this week renewed its commitment to eliminating cervical cancer through an expanded screening programme backed by corporate funding, Rotary leadership and the Ministry of Health.
The initiative, supported by Dilmah, the Rotary Club of Colombo, the Family Health Bureau and the Sri Lanka Cancer Society, aims to strengthen nationwide HPV DNA screening, public awareness and prevention efforts at a time when cervical cancer continues to claim hundreds of lives annually despite being one of the most preventable forms of cancer.
Dilmah Chairman/CEO Dilhan C. Fernando said the programme reflects the values of his late father, Merrill J. Fernando, who believed companies exist not merely to generate profit, but to create lasting value for society.
He added:”Businesses do not exist to make profit. Businesses exist to create value. Value begins with people and livelihoods, continues through nature, and only then earns the right to secure economic value.”
Fernando announced a fresh commitment of Rs. 50 million this year, which will fund 20,160 screenings, following an earlier Rs. 75 million pledge made in January 2024 under a Memorandum of Understanding signed with the Ministry of Health and Rotary.
“That value may seem like a big number, but it is insignificant when you consider that it has saved thousands of women from the scourge of cancer,” he said.
He described the continued deaths from a preventable disease as deeply troubling.
“Learning that so many women were losing their lives annually to cervical cancer was something really quite abhorrent to us,” Fernando said.
Representing the Rotary Club of Colombo, K.R. Ravindran said the campaign is proof that strategic partnerships can change national health outcomes.
“This is not a discussion. This is a promise of early detection,” Ravindran said. “Cancer, especially cervical cancer, does not arrive with a bell ringing or a warning. It whispers, and so often by the time it is heard, it is too late.”
He said Rotary’s own experience operating early detection centres for breast, cervical and oral cancer had shown the life-saving value of screening.
“Early detection is not just saving lives. It transforms fear into hope, into possibility,” he said.
Ravindran noted that Sri Lanka’s economic crisis had once threatened to halt testing services because of shortages in funding for diagnostic kits, but private sector intervention prevented disruption.
“Without the money, the whole thing would have gone awry. That is when Dilmah stepped in,” he said.
“They did something far greater than simply giving money. They made scale possible. They made continuation possible. They made impact possible.”
Ravindran expressed confidence that Sri Lanka can become one of the first countries in the world to eliminate cervical cancer as a public health threat by 2030, citing the nation’s literacy, public health network, school vaccination system and midwife service.
“I think this country can become one of the first countries to be rid of this disease,” he said.
Consultant Community Physician Dr. Nadija Herath of the Family Health Bureau said cervical cancer is caused mainly by persistent infection with the Human Papillomavirus (HPV), but can be prevented through vaccination and early detection.
She said Sri Lanka’s Well Woman Clinic programme, launched in 1996, screens women primarily in the 35 and 45 age groups, and is now expanding the use of HPV DNA testing, which is more accurate than conventional cytology methods.
“The most important thing about this cancer is that it is preventable,” Dr. Herath said. “If pre-cancerous changes are identified early, they can be fully treated and women can live normal lives.”
She said new funding would also support outreach clinics, especially in workplaces and underserved areas.
President of the Sri Lanka Cancer Society Anoja Karunaratne said awareness remains a major challenge, with stigma and fear discouraging many women from seeking screening.
“We need to take this message beyond hospitals and clinics—into schools, workplaces, religious institutions and community groups,” she said.
She stressed that women should view screening as a routine part of healthcare rather than something to fear.
Speakers at the event said the collaboration stands as a model for corporate Sri Lanka, showing how businesses can contribute meaningfully to national wellbeing.
Fernando praised Sri Lanka’s healthcare system for continuing to innovate despite adversity.
“Whatever anyone may say about systems or governance, the fact is Sri Lanka’s healthcare system has an enviable track record,” he said.
By Ifham Nizam
Business
Seylan Bank reports PAT of LKR 2.91 Bn in Q1 – 2026
The Bank recorded a Profit Before Income Tax (PBT) of LKR 4,548 Mn in Q1 2026, against LKR 4,199 Mn reflecting a growth of 8.31%.
For the three months ended 31st March 2026, Profit after Tax recorded by Seylan Bank was LKR 2,906 Mn with a growth of 5.25% against LKR 2,761 Mn recorded in the corresponding period of 2025.
Statement of Financial Performance
Net interest income increased from LKR 8,587 Mn to LKR 9,734 Mn, an increase of 13.37% over the previous year for the 3 months ended 31st March 2026 mainly due to the significant growth in bank’s assets base over the last 12 months from LKR 785 Bn as end of Q1 2025 to LKR 943 Bn as at 31st March 2026. The Bank’s Net Interest Margin (NIM) also moderated from 4.50% in 2025 to 4.23% during Q1 2026.
Meanwhile, the Bank’s net fee-based income recorded a growth of 24.04%, increasing from LKR 1,863 Mn to LKR 2,311 Mn, primarily driven by fee income from Cards, Remittances, Trade, and other financial services.
Other income captions comprising of net gains / losses from trading, net gains from derecognition of financial assets and net other operating income, reflected a reduction mainly due to decline in mark to market gains from government securities and equity investments with the prevailing market interest rates and price movements, however exchange income showed an increase, due to higher forex trade volumes.
Business
The power of soft skills: Transforming students into future leaders with SLIIT Soft Skills+ 2026
The soft skills development program is a major project carried out under its Corporate Social Responsibility (CSR) agenda, by the SLIIT Business School. This program, intended to go beyond typical classroom instruction, focuses on giving school going students the fundamental life skills they need to thrive in a world that is becoming more competitive and dynamic.
The program, which is intended for students in Grades 11 through 13, is open to participation from schools under the Sri Lankan government, private, and foreign institutions. The inclusive process ensures that students from different educational backgrounds have equal opportunities to improve their personal and professional competencies by enrolling for the program.
The initiative’s main goal is to close the knowledge gap between academia and real-world application. In addition to encouraging creativity, innovation, and an optimistic outlook, it places a strong emphasis on the development of vital soft skills like problem-solving, collaboration, and communication. By using this strategy, the program hopes to develop well-rounded, future-ready people who can overcome obstacles in the real world.
The preliminary stage and the Grand Finale are the two primary phases of the Soft Skills+ 2026 program. The program starts with an online teacher training workshop on April 28, 2026. In order to ensure long-term impact and sustainability, this recently added component focuses on improving instructors’ capacity to mentor and support students in the development of soft skills.
The preliminary rounds will be held virtually on May 9, 2026, across three regions: Malabe, Kandy, and Matara. These sessions include competitions focused on activities, quiz-based evaluations, and interactive workshops on soft skills. All exercises and questions are presented in Sinhala, Tamil, and English to encourage inclusivity, enabling students to participate in their favorite language with ease.
The top 50 teams from the preliminary stages will move on to the Grand Finale, which will take place at the SLIIT Malabe Campus on May 16, 2026. In order to ensure fairness and transparency, this final round will include advanced competition rounds and through evaluations carried out by a team of experienced and knowledgeable jury panel.
Certificates will be given to all participants, including instructors and children, and special gifts will be given to the finalists. In recognition of their exceptional performance and commitment, winning teams will also receive monetary awards.
With 50 teams participating in the grand finale and strong representation from across the island, the 2025 program demonstrated its growing impact. Last year’s winner was from St. Servatius College, Matara while Sivali Central College in Rathnapura was the runner-up.
This program, which has received official Ministry of Education clearance, is a nationally recognized platform that supports educational goals and continues to mold future leaders. For more details contact Mr. Ranitha Weerarathna, Senior Lecturer – SLIIT Business School via Tel – (+ 94) 0776503079 / 0764403664 or Email – ranitha.w@sliit.lk
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