News
Sri Lanka Insurance embarks on a new era: Legal segregation marks a historic milestone
Sri Lanka Insurance Corporation, the pioneering insurance giant with a rich history spanning over 60 years, has officially entered a new chapter with the legal segregation of its Life and General insurance businesses. This monumental decision, in compliance with the regulatory framework set by the Insurance Regulatory Commission of Sri Lanka (IRCSL), takes effect from February 1, 2024.
Founded as the state-owned insurer, Sri Lanka Insurance played a pivotal role in shaping and establishing the insurance industry in the country, paving the way for private sector insurers. Over the past six decades, it has emerged as the strongest and largest insurer, contributing significantly to the nation’s development by safeguarding lives and assets and creating substantial job opportunities, particularly for the youth.
A momentous event to mark this historic occasion was held at the Sri Lanka Insurance head office on February 1, following traditional Sri Lankan customs. At the ceremony, the Chairman of Sri Lanka Insurance President Counsel Mr. Ronald C Perera presented the business registrations to the Group CEO Mr. Chandana L Aluthgama, symbolizing the establishment of two distinct entities: Sri Lanka Insurance Corporation Life Limited and Sri Lanka Insurance Corporation General Limited.
Sri Lanka Insurance Corporation Life Limited (SLICLL)and Sri Lanka Insurance Corporation General Limited (SLICGL) foresee new opportunities for growth and success. The legal segregation allows for a more focused execution of their respective business strategies, ensuring enhanced efficiency and effectiveness in serving their customers. Both companies remain steadfast in their commitment to superior customer service. The essence of their business drive for 2024, ‘Customer centricity through focused specialization,’ remains unchanged.
Mr. Chandana L. Aluthgama, Group Chief Executive Officer of Sri Lanka Insurance stated, “even though the legal segregation commenced on 1st of February the Life and General business of SLIC has functioned as distinctive entities with its separate profit and loss statements, financial operations, and strategic focuses. Today’s announcement formalises this legal segregation, marking a significant milestone in our pursuit of excellence. It is also imperative to note that financial management of the two businesses has been prudently managed independently, ensuring the security of our funds and investments. This is a testament to our commitment to best practices and sound financial governance.”
Reflecting on this significant milestone, the Chairman of Sri Lanka Insurance President Counsel Mr. Ronald C Perera stated, “The segregation is not just a corporate restructuring; it marks the beginning of a new journey for Sri Lanka Insurance. While we bid farewell to our composite status, we welcome the opportunity for greater specialization and excellence in both Life and General insurance. Our commitment to our customers, employees, and the nation remains unwavering.”
As Sri Lanka Insurance Corporation embarks on this transformative journey, it carries with it the legacy of over 60 years as a composite insurer, now evolving into two distinct entities, each poised to contribute to the growth and prosperity of Sri Lanka.
Thirty-six (36) naval personnel completed an eight-month Basic Marine Qualification Course and received their Marine insignia at the main parade ground of SLNS Vidura in Sampur, Trincomalee today, (29 August 2026).
At the invitation of Commandant SLNS Vidura, Captain Ravindu Harischandra, the ceremony was graced by Rear Admiral Buddhika Liyanagamage, Deputy Chief of Staff of the Navy and Commander Eastern Naval Area.
The group, comprising 3 officers and 33 sailors, completed the 10th intake of the Basic Marine Qualification Course, after volunteering for the demanding training programme.
In recognition of exceptional performance during the training, trophies were presented to outstanding personnel. Lieutenant (S) VPA Sasanka was awarded trophies for Best Marine of the Course, Highest Aggregate in Overall Subjects, and Best Marksman.
Physical Training Instructor WMGDP Bandara received the trophy for Best Physical Fitness. Addressing the newly qualified personnel,
Rear Admiral Liyanagamage congratulated them on successfully completing the course. He urged them to use the skills and experience gained through their training to contribute to safeguarding the country’s sovereignty and territorial integrity.
He also called on them to apply the courage and determination developed during the course both in their professional and personal lives, and to remain prepared to meet any challenge faced by the country.
He stressed the importance of keeping their knowledge and training up to date and maintaining constant vigilance while carrying out their duties.
Rear Admiral Liyanagamage also expressed his appreciation to
the Commanding Officer of SLNS Vidura and the directing staff for their contribution to the successful completion of the course.
The insignia ceremony also included a demonstration showcasing the capabilities and skills of the Sri Lanka Navy Marine.
Rear Admiral Achala Silva, Director General Logistics; Rear Admiral Kusal Dissanayake, Commandant Naval Infantry; Commodore Sanjeewa Kodikara, Director Marine; officers
from Navy Headquarters and the Eastern Naval Area; senior officers from the Army, Air Force and Police; and parents of the newly passed out marine personnel attended the ceremony.
Norwegians are grieving the death of the beloved King Harald V, as a period of national mourning begins and his son Haakon VIII assumes the throne.
After Harald’s death was announced early on Friday, crowds amassed at the royal palace in Oslo, laying flowers and flags, some mourners visibly in tears.
The 53-year-old new king held an extraordinary council of state meeting with government ministers, saying he was taking on the royal family’s motto “All for Norway”.
Harald – who was on the throne for 35 years – died in hospital at 06:35 local time (04:35 GMT) aged 89, after being treated there for a rare blood condition. His coffin was later taken to the palace in a public procession.
Memorials outside the palace included a candle with the word “thanks” written on it (BBC)
An estimated 10,000 people lined the streets in the capital to see the late king go past, Norway’s public broadcaster reported.
The late monarch has been described as an inclusive, transparent and empathetic “people’s king” who modernised the Norwegian monarchy.
European royals, including King Charles III – whose mother Queen Elizabeth II was Harald’s second cousin – as well as political leaders and ordinary citizens, paid tribute to his service and the stability he brought to the country.
Norway’s Prime Minister Jonas Gahr Støre, who laid flowers outside the palace and signed a book of condolences after greeting the new king, said the country was “united in grief and gratitude”.
In a televised memorial address – one of multiple eulogies by ministers – he said the late king’s “legacy lives on” and offered condolences to the royal family and Queen Sonja, who would have celebrated her 58th wedding anniversary with Harald on Saturday.
Støre was joined by ministers and a crowd of citizens grieving outside the palace (BBC)
Norway’s superstar footballer Erling Haaland thanked Harald for “everything you meant to Norway” in a post on Instagram, adding that it had been an honour to meet him earlier in the summer at the palace following the Fifa World Cup.
In the country’s capital, Norwegians shared their grief and affection for the late king.
“I personally will say he was everything for us, especially being an immigrant,” Biteya Terfassa, an Oslo resident who was born in Ethiopia, told news agency Reuters outside the palace.
“He made us feel at home and he made us feel loved. So he was like a grandfather that I never had.”
At noon, the Norwegian Armed Forces honoured Harald with a funeral salute of 21 shots from Akershus Fortress in central Oslo.
Later on Friday, a procession left the chapel at Rikshospitalet, where Harald died, taking his coffin in a hearse to the royal palace.
The date of Harald’s funeral is yet to be officially announced. Until then, he will be lying in state in the palace chapel so the public can pay their last respects.
During the national mourning period, flags will be flown at half-mast across the Nordic country, while Harald’s portrait will be displayed, candles lit and moments of silence held at professional events.
All non work-related social events will be cancelled or postponed. Oslo Mayor Anne Lindboe, who was due to get married on Friday, even postponed her wedding,
King Haakon, who is Harald’s younger child, is now the monarch and his wife Mette-Marit queen.
He is due to take an oath before the Norwegian parliament on Tuesday and will later participate in a consecration service – a stripped-down version of a coronation, which Norway no longer has.
His daughter, the 22-year-old Ingrid Alexandra, who joined her father to meet ministers at the palace on Friday, is next in line to the throne as crown princess after the rules of succession changed in 1990 to allow firstborn women to inherit the crown.
Crown Princess Ingrid Alexandra, second from right, stood by her father’s side (BBC)
Haakon assumes his new role at a difficult time, as the royal family has faced health challenges and scandals this year.
Now-Queen Mette-Marit came under scrutiny earlier this year when it was revealed that she had a three-year friendship with the late convicted sex offender Jeffrey Epstein, for which she has publicly apologised.
Later in the year, she received a lung transplant, after suffering from pulmonary fibrosis since 2018. Doctors will not declare her stable until next year, meaning her husband must balance his new official duties with her care.
Meanwhile, Mette-Marit’s son from a previous relationship, Marius Borg Høiby, was convicted in June of rape and other offences and sentenced to four years in prison. He is appealing.
Høiby is not a member of the royal family, but was raised with them since he was four years old, when now-King Haakon married his mother.
Although Harald remained popular until his death, a poll for newspaper Aftenposten earlier this year found that support for the monarchy had dropped from 72% in 2024 to 54%.
However, Norwegian royal experts told the BBC that the new king, while facing questions about the turbulence surrounding his family, was respected, hard-working and, they believed, able to move forward despite the challenges.
(BBC)
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Sun directly overhead Pallawarayankaddu, Akkarayankulam, Ariviyal Nagar, Puthukkudiyiruppu, Ananthapuram at about 12.11 noon today (29)
The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.
The nearest places of Sri Lanka over which the sun is overhead today (29) are Pallawarayankaddu, Akkarayankulam, Ariviyal Nagar, Puthukkudiyiruppu, Ananthapuram about 12.11 noon.
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