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Sri Lanka Insurance posts a record profit of Rs. 11.7 billion before taxation for the year 2021

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Secures the title of Most Loved Brand in both business categories Life & General insurance by Brand Finance for the fifth consecutive year

Secures the Most Valuable General Insurance Brand in the country by Brand Finance for the fifth consecutive year

Secures the Number 1 position in the General Insurance Category on the country

The national insurer Sri Lanka Insurance (SLIC) yet again recorded stellar performance in the year 2021 to record a profit before taxation of Rs. 11.7 billion for the year 2021, with a strong improvement in combined Gross Written Premium (GWP) of Rs. 43.2 billion denoting a growth of 9.7%.

Notwithstanding the stringent economic and social conditions that prevailed in the country, SLIC’s asset base increased to Rs.268 billion and the Life fund to Rs. 152 billion to uphold the position as the largest and strongest insurer in the country.

Further although placed on a negative watch as all other local insurers, due to the current economic situation of the country Sri Lanka Insurance managed to retain AA (lka) Fitch rating for long term financial stability. SLIC is the only insurer to be certified with an AA (lka) rating.

In another achievement, SLIC secured the ‘Most Valuable General Insurance Brand’ and the ‘Most Loved Insurance Brand’ of the year for the fifth consecutive year by Brand Finance, reaffirming the insurer’s people-centric approaches taken over the past years.

In 2021 SLIC reported a 14.1 % growth in life insurance premiums rising to Rs. 21.9 billion from 19.3 billion the previous year. In 2021, SLIC surpassed its own record to declare a sum of Rs.8.6 billion as a bonus to policyholders. The cumulative life insurance bonus paid out during the past 15 years tops a massive Rs.73.2 billion making the SLIC bonus payout unmatchable.

Sri Lanka Insurance General, The top General Insurance provider in the country leads the local General Insurance market by reporting a 5.4% premium growth increasing to Rs.21.2 billion.

SLIC continues to explore avenues to provide protection to communities, segments and age groups and different affinity groups through product and market development initiatives, through practical and affordable insurance solutions. The strength of its extensive branch network of 190 branches and customer service locations together with 8000 Advisor network serves beyond the mandate of insurance to provide protection to the people of this nation, it said in a news release.

Commenting on the excellence achieved during the year SLIC Chairman Vijitha Herath noted “The past year brought us countless challenges as well as opportunities to extend our service further and fulfil our duty and responsibility to the country as the protector of the nation. As we celebrate the 60 years of excellence and step into an era of transformation we continue to uphold the legacy we built as the trusted insurer. We continue to contribute to shaping the economic and social landscape of Sri Lanka and safeguard the people of this nation as the pioneer of the insurance industry of Sri Lanka. We reiterate the trust garnered through generations as the largest and strongest insurer and we continue adding value to all our stakeholders evolving ourselves to conquer greater heights.”

Chief Executive Officer Chandana L. Aluthgama noted, “Amidst the highly competitive market conditions and dynamic consumer patterns we have yet again demonstrated our resilience and prudent strategic practices to record a phenomenal financial result for the year 2021. We were able to accelerate our strategic initiatives to enhance digital integration and deliver exceptional service levels to our stakeholders. Looking at the future ahead we are constant in our efforts to increase internal efficiencies and productivity improvements through more curated strategies to be a future-ready insurer.” (SLIC news release)



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SLAF, Aviyana Ceylon partner to elevate high-end sports tourism with Eagles’ Monsoon Cup 2026

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-Sports tourism gets a boost: dignitaries at the sponsorship-formalizing ceremony

Aviyana Ceylon, Sri Lanka’s upcoming ultra-luxury seven-star hospitality project, has stepped decisively into the country’s high-end sports tourism space by coming on board as the principal sponsor of the prestigious Eagles’ Monsoon Cup Golf Tournament 2026, in partnership with the Sri Lanka Air Force (SLAF).

The international-standard golf tournament is scheduled to be held on January 11, 2026, and is expected to attract diplomats, corporate leaders, high-net-worth individuals and overseas golfers, reinforcing Sri Lanka’s positioning as an emerging premium leisure and sporting destination.

Under the patronage of Aviyana Ceylon chairman, Dr. Thisara Hewawasam, the company has committed a Rs. 2.5 million sponsorship, marking one of the most significant private-sector investments in elite golf events in recent years.

The sponsorship was formalised at a ceremonial cheque handover held at the Sri Lanka Air Force Headquarters, where Dr. Hewawasam officially handed over the cheque to Commander of the Air Force, Air Marshal Bandu Edirisinghe.

“Our decision to support the Eagles’ Monsoon Cup goes beyond sport. It is a strategic investment in positioning Sri Lanka as a global luxury tourism and lifestyle destination, Dr. Hewawasam said.

“International sporting events with strong networking potential play a critical role in shaping perceptions, attracting premium travelers and enhancing the country’s brand equity. Aviyana Ceylon is committed to supporting platforms that elevate Sri Lanka’s global standing, he added.

Senior SLAF officials, including chairman, Eagles’ Golf Links, Air Commodore Erandika Gunawardhana, secretary of the Air Force Sports Council and Director Media, Group Captain Eranda Geeganage, Secretary of Eagles’ Golf Links, Group Captain Asanka Ratnayake and SLAF Golf Secretary, Wing Commander R.A.S.T.A. Fernando, along with Aviyana Ceylon representatives and invited guests were present at the event.

Air Marshal Bandu Edirisinghe welcomed the partnership, noting that collaboration between the military and private sector is vital in developing sports diplomacy and tourism-led economic activity.

“Eagles’ Monsoon Cup has evolved into a premier sporting event that brings together global and local stakeholders. The support extended by Aviyana Ceylon strengthens our ability to host events of international calibre and contributes meaningfully to sports tourism and national image-building, the Air Force Commander said.

Beyond the golf tournament, the partnership opens the door to new experiential tourism initiatives, including a proposed collaboration to offer luxury helicopter tours for Aviyana Ceylon’s clientele, operated in coordination with the Sri Lanka Air Force.

According to Dr. Hewawasam, the concept aims to provide discerning travelers with exclusive aerial experiences showcasing Sri Lanka’s landscapes, coastlines and heritage.

“Luxury heli-tours represent a new dimension in experiential tourism. They allow us to present Sri Lanka’s natural beauty from a unique vantage point, appealing to high-value travelers seeking privacy, exclusivity and unforgettable experiences, he said.

Industry observers note that such initiatives align with global trends where luxury hospitality brands integrate sports, aviation and curated experiences to differentiate destinations and increase average tourist spend.

The Eagles’ Monsoon Cup is widely regarded as one of Sri Lanka’s most elite sporting events, functioning not only as a golf tournament but also as a high-level networking platform linking diplomacy, business and leisure.

By Ifham Nizam

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‘Tea industry largely spared cyclone damage’

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‘ Back to normal’ : A hill country tea estate.

Reports received by us from tea brokers, the Colombo Tea Traders’ Association (CTTA) and other sources indicated that, by and large, the local tea sector has been spared by the recent weather havoc.

The CTTA in their recent communications said that although Cyclone Ditwah affected parts of Sri Lanka, production, sales, and exports of tea continued without interruption. Clearly, the report said, the well established and highly coordinated industry network was fully geared to confront these issues. Production and sales continued with least disruption . While some tea growing areas in Uva, and the Central Province experienced some impact no loss in manufacturing capacity was reported.

Damage was largely confined to specific roads, resulting in temporary disruptions to transportation. Some key routes connecting plantations to the city have now been reopened and transport services are resuming normal operations. Harvesting operations are gradually returning to normal with access roads being reopened and temporary roads have been constructed to facilitate transport of green leaf to manufacturing locations.

The tea small holders we met said, although their production routine was affected, quick return to normalcy was ensured thanks to the established Tea Small Holders’ Association whose action ensured speedy return to normalcy. They reiterated production was near normal; and the dismal situation was now in a controlled position. They assured that such losses were minimal and could be recouped with minimum delay.

The CTTA further said the majority of plantations and small holder lands in the South of the island were spared cyclone damage. Harvesting, manufacturing and transportation activities are continuing as usual.

Trading activities at the Colombo Tea Auctions continue to be held although with a revised calendar. The tea auction previously set for the 1st week December has been rescheduled for the last week December. This adjustment ensures uninterrupted financial flows to the producers , including small holders, maintaining the momentum of the industry.

Forbes and Walker Tea Brokers reported a national tea sale average for November of Rs. 1137.22 ( USD3.89) which shows an increase of Rs.61.17 and USD 0.02 YOY. The total National Sale Average for the year 2025 ( to date) was recorded at Rs. 1,164.97( USD 3.88). a decline of Rs . 63.49 ( USD 0.17) against the corresponding year’s average of Rs. 1228.46 (USD4.05). The report further said all elevations recorded negative variances during the period January to November 2025 in comparison to the cumulative corresponding year of 2024 in both LKR and USD terms.

By Steve A. Morrell

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Elephant House Ice Cream marks historic launch in Australia

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Ceylon Cold Stores PLC (CCS), a subsidiary of John Keells Holdings PLC, has launched its iconic Elephant House Ice Cream in Australia, marking a bold step in the brand’s global expansion. The official unveiling took place on 4th December 2025 at the Novotel Melbourne Glen Waverley, where industry leaders, local distributors, and strategic partners gathered to celebrate the occasion. The launch was further honoured by the presence of Ms. Pradeepa Seram, Consul General Designate of Sri Lanka, and Ms. Cassandra Fernando, Member of the Australian Parliament, reflecting the deep and growing connections between Sri Lanka and Australia.

Elephant House is one of the highest-penetrated Sri Lankan brands among Sri Lankan communities living overseas, with a presence in 16 countries, including the Maldives, Australia, and the United Kingdom, among others.

In a significant milestone for the company, Elephant House Ice Cream is now manufactured locally in Melbourne to support wider availability in the ethnic market in Australia. The range currently available includes Vanilla, Karutha Kolomban, and Fruit and Nut in 500ml packs. This marks the first time in CCS’s 150-year legacy that Elephant House Ice Cream has been produced outside Sri Lanka, signalling a new chapter in the company’s international growth journey in collaboration with Millennium Imports Pty Ltd, it’s one of the franchise partners for Australia.

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