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LOLC Life and LOLC General seen as standing out

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LOLC Group’s Insurance arm concluded the FY 2022 on a high note, recording its best -ever performance to date. Consolidated Gross Written Premium (GWP) of LOLC General Insurance (motor and non-motor) for the year ended 31st December 2022 stood at Rs. 8.551 Bn, reflecting a commendable 17% improvement over the previous financial year.

LOLC Life and General together also accounted for a combined Profit After Tax (PAT) of Rs. 2,418 Mn. What is more remarkable is that these results come amidst the backdrop of a significant decline in industry-wide performance owing to severe external challenges throughout 2022.

In the current financial year, LOLC General Insurance recorded a Profit before Tax (PBT) of Rs.1.65 Bn, denoting a solid 30% increase year on year, along with a PAT of Rs. 1.40 Bn representing 28% improvement over the figure reported for the previous financial year. The Total Comprehensive Income of the company recorded Rs. 449 Mn. Furthermore, with the Company’s market share in the Motor segment edging up to 10% in the year 2022, LOLC General too moved up 2 spots in the industry league tables from 7th position in 2021 to claim 5th place in 2022.

Similarly, LOLC Life Assurance also soared ahead to deliver exceptional results and reach some important milestones in the current financial year. Reporting an overall Premium income growth of 12% year on year, the company was recognized as having the Highest New Business growth (FYP) in the industry at 31%, a monumental achievement given the severe challenges encountered during 2022. Meanwhile growing by 74% year on year, the PAT crossed the 1Bn mark for the first time in the company’s history. Backed by strong bottom line results, LOLC Life Assurance reported a Return on Equity (ROE) of 33%. Moreover, with a 4% market share in GWP terms, LOLC Life moved up to the 7th spot in the industry rankings for 2022 from 8th position occupied in the previous financial year.

The formation of the Insurance arm, – Life and non-Life (General) operations in 2010 denotes a key milestone in LOLC’s strategic diversification agenda. A little over a decade on, LOLC life and general businesses have proven themselves as the most preferred insurance providers in the market.

LOLC Life Assurance Ltd (LOLC Life) continues to offer a comprehensive suite of Insurance covers from Life Insurance plans, pension plans, child plans, critical illness plans and home loan protection solutions, all tailored to suit the bespoke needs of each customer. The business model of the Life business revolves around providing sustainable solutions to ensure the safety of people and communities. A robust business model coupled with sound underwriting principles has put LOLC Life on an accelerated growth trajectory, for the past few years.

LOLC General caters to all customer segments through specialized lifestyle Insurance solutions for vehicles, homes, businesses, travel, cargo, personal accident cover etc. Seeking to emulate a more inclusive approach to business, LOLC General also offers Takaful Insurance – an alternative solution for risk averse customers to benefit from the risk sharing concept promulgated by the Islamic banking principles.

Over the past ten years, LOLC General has recorded a number of milestones, most notably the listing on the Colombo Stock Exchange in December 2021. The unveiling of the ‘Honours’ loyalty programme in October 2022 marks another important milestone for LOLC General.



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UN Global Compact Network Sri Lanka mobilizes business to lead with purpose

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As businesses navigate an increasingly complex operating environment shaped by workforce transformation, evolving stakeholder expectations, technological disruption and shifting market demands, strengthening performance requires more than new strategies. It requires new ways of thinking, leading, and collaborating.

It was against this backdrop that UN Global Compact Network Sri Lanka convened CATALYZE 2026: Social, bringing together business leaders, sustainability practitioners, policymakers, development partners and industry experts to mobilize collective action and equip businesses with the knowledge, partnerships and practical approaches needed to strengthen performance through responsible business.

More than a forum for dialogue, CATALYZE 2026 was designed to help businesses think differently about performance. It reinforced that long-term success is increasingly shaped by how organizations lead, uphold human rights, foster inclusive workplaces, strengthen ethical governance, and build cultures that enable innovation, resilience and trust. Responsible business is no longer separate from business performance — it is fundamental to it.

Aligned with the UN Global Compact’s 2026–2030 Global Strategy, the Forum reflected its three strategic pillars — Equip, Catalyze and Advance — by strengthening business capability, fostering collaboration and mobilizing leadership to accelerate progress on social sustainability.

UN Global Compact Network Sri Lanka’s approach to social sustainability centres on driving this change — recognizing that meaningful progress comes not only through policies and commitments, but through the everyday decisions, leadership behaviours and organizational cultures that shape how businesses operate. CATALYZE 2026: Social encouraged participants to move beyond intention towards implementation, embedding responsible business practices into strategy, governance and organizational culture.

Opening the CATALYZE 2026: Social, Rathika de Silva, Executive Director of UN Global Compact Network Sri Lanka, spoke to the role of responsible business leadership in strengthening Sri Lanka’s global competitiveness:

“Sri Lanka has the workforce, resilience, and opportunity to compete not by being the cheapest producer, but by becoming the most trusted. As global expectations evolve, compliance is no longer simply a cost of doing business — it is the foundation of market access, and the decisions we make today will determine how strongly we compete in the markets of the future.”

The Forum featured keynote addresses, leadership dialogues and technical sessions on the issues shaping the future of business, including business integrity and anti-corruption, human rights, neurodiversity and inclusive workplaces, artificial intelligence and the future of jobs, the Women’s Empowerment Principles (WEPs), responsible sustainability communications, and workforce resilience. Together, these discussions highlighted how responsible leadership, inclusive practices, and strong governance contribute to organizational resilience, innovation, and long-term performance.

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A regional conversation on the future of English language teaching

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Free British Council online conference brings together leading educators from across South Asia to explore how creativity, inclusion and technology can help prepare learners for a rapidly changing world

The British Council has announced the South Asia TeachingEnglish Online Conference 2026, a free three-day event that will convene educators, researchers and teacher educators from across the region to examine one of the most pressing questions facing education today: how can schools equip learners with the creativity, adaptability and communication skills needed to thrive in an increasingly complex world?

Taking place from 23–25 July 2026, the online conference comes at a time when education systems across South Asia are grappling with the challenge of balancing curriculum demands, assessment pressures and evolving learner needs. While English remains a critical gateway to academic and professional opportunities, educators are increasingly seeking approaches that move beyond language acquisition alone to foster critical thinking, collaboration, learner agency and participation.

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The Ceylon Chamber convenes dialogue on energy security and standards for Sri Lanka’s energy transition

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The Ceylon Chamber of Commerce recently hosted a discussion titled “Energy Transition in Sri Lanka: Strategic Insights from Global Markets”, bringing together representatives from the public and private sectors, industry experts, academics, and other stakeholders to examine the opportunities and challenges associated with Sri Lanka’s evolving energy landscape.

Held at a time when countries around the world are accelerating their transition towards cleaner, more resilient, and technology-driven energy systems, the event provided a timely platform to examine renewable energy not only as an environmental priority but as a strategic pillar of national energy security, with implications for economic growth and long-term competitiveness. The discussion also considered the increasing importance of reliable energy infrastructure in meeting the growing demands of digital transformation, including emerging technologies such as artificial intelligence, electric mobility, and data centres.

The programme covered a wide range of topics relevant to Sri Lanka’s energy future, including renewable energy development, energy security, regulatory and policy frameworks, electricity sector reforms, energy storage systems, grid modernization, investment and financing considerations, and international experiences in energy transition. Particular attention was given to the need for creating an enabling environment that supports innovation, attracts investment, including the technical and safety standards required to protect consumers and businesses as storage and solar adoption scales nationally.

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