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Sri Lanka Insurance Life Maintains Growth Trajectory with 32% Increase in GWP by Q3 2025

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Nusith Kumaratunga, Chairman of Sri Lanka Insurance addressing the gathering. Also in the picture are Dayatrathna Perera - Chief Officer (SLIC Life), Shriyani Kulasinghe - Chief Financial Officer (SLIC Life), Dr. Sameera Dharmasena - Chief Executive Officer (SLIC General) and Asiri Wickramaarachchi - Chief Officer (SLIC General).

Sri Lanka Insurance Life (SLIC Life) has recorded an impressive performance for the nine months ending 30th September 2025, reflecting the company’s exceptional business strength and resilience. The company posted a profit before taxation of Rs. 23.9 billion, marking an 11% growth, while achieving a Gross Written Premium (GWP) of Rs. 23.6 billion, a robust 32% year-on-year increase. SLIC Life also recorded a significant rise in New Business premiums, reaching Rs. 5.4 billion, a remarkable 61% growth, reinforcing its position among the top-performing life insurers in the country. Profit After Tax (PAT) for the period stood at 22 billion, reflecting the company’s strong financial governance and operational excellence.

Further demonstrating its commitment to policyholders, the company disbursed Rs. 13.2 billion in claims and maturity settlements during the nine-month period, averaging Rs. 1.5 billion per month, a 49% increase compared to the same period last year. This performance underscores SLIC Life’s financial strength and unwavering focus on delivering on its promises to customers. With an asset base of Rs. 264 billion and the largest Life Fund in the industry at Rs. 239 billion, SLIC Life continues to display unmatched financial stability and prudent management.

As a state-owned insurer, SLIC Life continues to play a pivotal role in national economic development. During the period, the company paid Rs. 0.9 billion in taxes and maintained significant investments of Rs. 115 billion in government securities, reflecting its contribution to fiscal stability and economic growth. Sri Lanka Insurance Corporation (SLIC) further strengthened the Treasury through dividend payments of Rs. 1.5 billion in 2025, a 17% increase from the previous year reinforcing the group’s role as a key contributor to national revenue and supporting economic progress.

In line with its continued success, the company recently declared a record Rs. 12.5 billion in annual bonuses for 2024, the highest in the Sri Lankan life insurance industry. This brings the cumulative bonus declarations since 2006 to Rs. 116.6 billion, reflecting the company’s strong investment performance and long-term commitment to delivering value to its policyholders.

Sri Lanka Insurance Life holds the highest assigned rating among Sri Lankan life insurers, with Fitch Ratings affirming an ‘A+(lka)’ National Insurer Financial Strength (IFS) Rating and a Stable Outlook, underscoring the company’s sound financial governance and resilience. SLIC Life continues to strengthen its brand leadership, being recognized as Sri Lanka’s “Most Loved Life Insurance Brand” by LMD for the 8th consecutive year and listed among the Top 3 of the Most Valuable Life Insurance Brands in Sri Lanka. Demonstrating its commitment to global best practices, the company has also achieved ISO/IEC 27001:2013 for Information Security Management, ISO 9001:2015 for Quality Management, and ISO 14064-1:2018 for Greenhouse Gas Verification.

Acknowledging its long-standing commitment to community upliftment, SLIC Life was honored with the “Excellence in CSR Award” at the Sri Lanka Leadership Awards. The company continues to empower future generations through initiatives such as ‘Suba Pathum’, awarding over 2,200 scholarships, and ‘Pasal Piriyatha Surakimu’, enhancing facilities in more than 3,300 underprivileged schools. Continuing its unique initiative, SLIC Life marked World Children’s Day 2025 for the fourth consecutive year, offering a Rs. 1 million free life insurance cover to parents of children born on October 1st across all hospitals in Sri Lanka.

With an exceptional nine-month performance in 2025, Sri Lanka Insurance Life has further strengthened its leadership in the life insurance sector while upholding its core values of protection, trust, and care. As the company continues its journey of growth and transformation, it remains focused on innovation, customer confidence, and delivering lasting value to policyholders and the nation at large.



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A mechanism that goes beyond the normal state apparatus is needed to restore public life – President

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President Anura Kumara Dissanayake emphasised that a unified operational mechanism, which goes beyond the normal state administration, is required to restore public life after a disaster.

The President stated this while participating in the Kandy District Coordinating Committee meeting held at the Kandy District Secretariat on Saturday  (06).morning

During the meeting, the President separately reviewed the progress of the programmes underway to restore essential infrastructure in the district, including the roadways, electricity, water and fuel supply, irrigation systems and communication facilities.

The President instructed officials to utilise the allocated provisions for the next 25 days to complete road clearing activities swiftly, until the permanent reconstruction of roads is completed.

The President also instructed that water supply in the district be fully restored within three days. Until then, the water requirements of the public should be met through bowsers and such activities must be carried out as an emergency measure beyond the usual procedure, with technical support from the Tri-Forces.

Further, he instructed that the cleaning of household wells be carried out under the coordination of Divisional Secretariats and that electricity supply in the district be restored by 31 December through temporary repairs, while major reconstruction work will be carried into the second phase.

The President pointed out the need to identify arable lands and give priority to cultivation. He instructed that cultivable paddy fields be identified urgently and supplied with the required irrigation water and highlighted the importance of coordinated action by the Department of Irrigation, Provincial Irrigation Department and the Department of Agrarian Development.

He also instructed officials to expedite the payment of the Rs. 200,000 compensation allocated to identified farmers and fields and to submit a report on the extent of vegetable cultivation affected in the district within two weeks. Accordingly, Rs. 150,000 per hectare will be paid as compensation to the affected vegetable farmers and necessary amendments will be made to provide the same compensation for losses incurred in banana cultivation.

The impact on the livestock sector due to the disaster was also broadly discussed. The President highlighted the need to maintain updated data regarding the number of farms and livestock.

He explained the need to restart damaged livestock farms swiftly, to restore income sources for the farmers and to meet the country’s food needs, including milk, poultry and eggs.

Discussions were also held regarding restoring fuel supply in the district. Due to road blockage, fuel supply has been disrupted in Pussellawa and Meetalawa. The President instructed that, through coordination between the Road Development Authority, the Tri-Forces and the Police, fuel be supplied to these areas by Saturday [06] evening.

The resumption of schools in the Kandy District was also discussed. The President instructed officials to minimise delays in reopening schools to ensure that examinations are held as scheduled.

The President also examined in detail the steps taken to restore the district’s health services, railways and communication facilities.

Discussions were held regarding housing damage and the resettlement of affected people. The roles of the Geological Survey and Mines Bureau and the required staffing needs were considered.

The President stated that state-owned lands in adjacent areas will be identified and presented for resettlement activities and necessary interventions will be made to release such lands through discussions with relevant institutions.  He emphasised that the government’s objective is to resettle people safely and continuous assessment must be carried out to ensure that compensation provided for destroyed and partly damaged houses is used properly for reconstruction.

As all compensation payments will be made under the 2025 Budget, the President stressed the need to complete all payments before 31 December, to avoid a burden on the 2026 Budget. He said the dedication of all state officials is essential to successfully implement the programmes initiated to restore public life.

Attention was drawn to the garbage disposal problem in Gampola. As a long-term solution, the President instructed that, until the relevant Mahaweli land is released, land belonging to the Ceylon Electricity Board be temporarily allocated for the purpose.

Attention was also paid to the damage caused to state institutions due to the disaster situation.

While noting that natural disasters such as floods, storms and landslides cannot be prevented, the President emphasised that the loss of lives and property can be minimised. He stated that a proper study of the Central Highlands is needed and a long-term plan must be prepared to restore the eroding ecological system.

He further highlighted the need to enforce the powers of local authorities to prevent similar disasters in the future, stating that no room should be given for illegal constructions hereafter. He also noted that Ceylon Electricity Board should not provide electricity to such unauthorised locations.

The President stated that although some expected it would take a long time for the country to recover after the disaster, the government has already been able to restore public life to normalcy within a very short period. He added that by working together for a little longer, the desired goals can be achieved.

The President expressed special appreciation for the dedication shown by state officials and the Tri-Forces in carrying out these tasks.

Minister of Agriculture, Livestock, Land and Irrigation K.D. Lal Kantha, Deputy Minister of Transport and Highways Prasanna Gunasena, Deputy Minister of Health Hansaka Wijemuni, Members of Parliament Jagath Manuwarana and Thanura Dissanayake, as well as Central Province Governor Professor Sarath Abeykoon, Chief Secretary G.H.M.A. Premasinha, Kandy District Secretary Indika Udawatta and officials representing all line agencies including the Road Development Authority, Ceylon Electricity Board and the Irrigation Department attended the occasion.

 

 

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President calls on the Mahanayake Thera of the Asgiri chapter

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President Anura Kumara Dissanayake on Saturday (06) morning  visited the Asgiri Maha Viharaya and paid respects to the Mahanayake Thera of the Asgiri Chapter, Most Venerable Warakagoda Sri Gnanarathana Thera, from whom he received blessings.

The President briefed the Mahanayake Thera on the government’s programmes to provide relief to the people affected by the prevailing disaster situation and engaged in a brief discussion with him.

Thereafter, the President called on the Anunayake Thera of the Asgiri Chapter, Most Venerable Narampanawae Ananda Anunayake Thera and also held a brief discussion with him.

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President calls on the Mahanayake Thera of the Malwathu chapter

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President Anura Kumara Dissanayake on Saturday (06)  morning  visited the Malwathu Maha Viharaya and paid respects to the Mahanayake Thera of the Malwathu Chapter, Most Venerable Thibbatuwawe Sri Sumangala Thera.

The President briefed the Mahanayake Thera on the government’s programmes to provide relief to the people affected by the prevailing disaster situation and engaged in a brief discussion.

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