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Sri Lanka Insurance Life Maintains Growth Trajectory with 32% Increase in GWP by Q3 2025
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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Royal Navy of Oman Ship ‘AL SEEB’ leaves island
The Royal Navy of Oman Ship ‘AL SEEB’ concluded a logistics replenishment visit to Sri Lanka and departed the Port of Colombo on 24 Jan 26.
In accordance with naval tradition, the Sri Lanka Navy extended a customary farewell to the departing ship.
Latest News
Gold tops $5,000 for first time ever, adding to historic rally
The price of gold has risen above $5,000 (£3,659) an ounce for the first time, extending a historic rally that saw the precious metal jump by more than 60% in 2025.
It comes as tensions between the US and NATO over Greenland have added to growing concerns about financial and geopolitical uncertainty.
US President Donald Trump’s trade policies have also worried markets. On Saturday he threatened to impose a 100% tariff on Canada if it strikes a trade deal with China.
Gold and other precious metals are seen as a so-called safe-haven assets that investors buy in times of uncertainty.
Demand for gold has also been driven by a range of other factors including higher-than-usual inflation, the weak US dollar, buying by central banks around the world and as the US Federal Reserve is expected to cut interest rates again this year.
Wars in Ukraine and Gaza, as well as Washington seizing Venezuelan President Nicolás Maduro, have also helped push up the price of gold.
On Friday, silver topped $100 an ounce for the first time, building on its almost 150% rise last year.
[BBC]
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Auditor General issue acid test for newly constituted CC, says former COPE Chief
SJB Working Committee member and ex-SLPP lawmaker Charitha Herath says that all eyes are on the newly constituted Constitutional Council (CC) as to how it will handle the dispute between President Anura Kumara Dissanayake, and the previous CC, over the appointment of Auditor General (AG).
The former parliamentarian said so in response to The Island query yesterday (25). In terms of the Constitution, Prime Minister Dr. Harini Amarasuriya and Opposition Leader Sajith Premadasa last week agreed on the appointment of former civil servant Austin Fernando, Professor Wasantha Seneviratne and Ranjith Ariyaratne as non-MP members of the CC.
They replaced former Ministry Secretary Dr. Prathap Ramanujam, former Chairperson of the Sri Lanka Medical Association Dr. Dilkushi Anula Wijesundere and Dr. Dinesha Samararatne of the University of Colombo. Pointing out that they rejected the President’s nominees for the AG’s post on several occasions, Herath emphasised the pivotal importance of the appointment of a person with impeccable credentials.
The other CC members are the Prime Minister, Speaker Dr. Jagath Wickremaratne (Chairman), the Opposition Leader, the President’s nominee Bimal Rathnayake and five persons appointed by the President, upon being nominated as follows: one MP nominated by agreement of the majority of the MPs representing the Government (Aboobucker Athambawa, MP), one MP nominated by agreement of the majority of the Members of Parliament of the political party, or independent group, to which the Leader of the Opposition belongs (Ajith P. Perera, MP), and one MP nominated by agreement of the Members of Parliament other than those representing the Government and those belonging to the political party or independent group to which the Leader of the Opposition belongs, and appointed by the President ( Sivagnanam Shritharan, MP.)
The present CC was established on October 31, 2022 in terms of the 21st Amendment to the Constitution. The Attorney General heads the National Audit Office (NAO). One-time COPE Chief said that it would be the responsibility of the government to ensure the integrity of the NAO.
Chulantha Wickramaratne, who served as AG for a period of six years, retired in April 2025. Following his retirement, President Dissanayake nominated H.T.P. Chandana, an audit officer at the Ceylon Petroleum Corporation as the AG. The CC rejected that nomination. Subsequently, President Dissanayake appointed the next senior-most official at the NAO Dharmapala Gammanpila as Acting Auditor General for a period of six months. Then, the President nominated Senior Deputy Auditor General L.S.I. Jayarathne to serve in an acting capacity, but her nomination, too, was also rejected. Many an eyebrow was raised when the President nominated O.R. Rajasinghe, the Internal Audit Director of the Sri Lanka Army for the top post. That nomination too was rejected. As a result, the vital position remains vacant since 07 December, 2025.
Herath said that the government was in a bind over the Auditor General’s appointment and the disgraceful campaign launched against Attorney General Parinda Ranasinghe, Jr, PC.
The ex-lawmaker said that JVP/NPP loyalists masquerading as journalists and civil activists had launched the protest against the Attorney General. Herath said that the decision to send Deputy Secretary General of Parliament Chaminda Kularatne, on compulsory leave, too, was a matter of serious concern.
Herath said: “This is the same government that campaigned strongly on non-interference, institutional independence, and respect for the rule of law—principles they used to criticise every previous administration. Now, they appear to be doing exactly what they once opposed, only more openly. If this pattern continues, these undemocratic actions will eventually lead to their own downfall.”
BASL in late December, 2025 urged President Dissanayake and others, including the Opposition Leader, to consult civil society and professional bodies, including them, before the appointment of civil society representatives.
Herath said that the newly constituted CC would face its first acid test when it addressed the Auditor General issue.
by Shamindra Ferdinando
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