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Sustained growth and stability reaffirm SLICGL’s leadership as Sri Lanka’s premier state-owned insurer

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Top management addressing the media. (From left ) Dayaratne Perera - Chief Officer - SLIC Life, Sriyani Kulasinghe - Chief Financial Officer - SLIC Life, Nusith Kumaratunga - Chairman - Sri Lanka Insurance, Dr, Sameera Dharmasena - Chief Executive Officer - SLIC General and Asiri Wickramaarachchi - Chief Officer - SLIC General

Sri Lanka Insurance General reports strong nine-month performance for 2025

The Sri Lanka Insurance General Limited (SLICGL), the nation’s premier state-owned general insurer, announced its financial results for the nine months ended 30 September 2025, reflecting solid growth and sustained profitability supported by improving market conditions and renewed consumer confidence, SLICGL said in a press release yesterday (22)

The text of the statement: “For the nine months ended 30th September 2025, SLICGL recorded a Gross Written Premium (GWP) of Rs. 21,853 million, reflecting an 18% year-on-year growth. The company achieved an operating profit of Rs. 257 million and a profit after tax of Rs. 2,614 million, reflecting 17% year-on-year growth supported by improved consumer confidence, increased vehicle imports, and a strengthened market position.

As a state-owned insurer, SLIC General continues to play a pivotal role in national economic development. During the period, the company paid Rs. 0.7 billion in taxes and maintained significant investments of Rs. 11.5 billion in government securities, reflecting its contribution to fiscal stability and economic growth. Sri Lanka Insurance Corporation 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.

“Our results for the first nine months of 2025 reflect the strength, stability, and strategic focus of Sri Lanka Insurance General,” said Nusith Kumaratunga, Chairman of SLICGL. “As a state-owned enterprise, we continue to fulfil our responsibility to protect individuals, enterprises, and national assets while delivering consistent value to the economy.”

SLICGL’s performance reflects a balanced and resilient portfolio, with strong new business growth across its network of 143 branches and through a dedicated team of sales representatives and advisors across the country. This broad distribution base continues to strengthen the company’s market presence and accessibility for customers nationwide.

As a state-owned enterprise with a national mandate, SLICGL remains a cornerstone of Sri Lanka’s protection landscape — safeguarding people, property, and economic progress with reliability and integrity.

SLICGL’s strong fundamentals and reputation have been reaffirmed by independent recognitions:

• Fitch Ratings has assigned SLICGL an A+ (lka) National Insurer Financial Strength Rating — the highest rating awarded to any insurance company in Sri Lanka, reflecting exceptional financial stability and sovereign backing.

• Brand Finance 2025 named SLICGL the No. 1 Most Valuable General Insurance Brand in Sri Lanka, reaffirming its national leadership and enduring consumer trust.

With the strength of government ownership and the confidence of millions of policyholders, Sri Lanka Insurance General continues to lead with purpose — combining financial excellence, national service, and a steadfast commitment to protecting every Sri Lankan household and enterprise.”



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Rs 1. 3 bn yahapalana building deal under investigation

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Jayasinghe building

Several ex-Cabinet ministers questioned; Ranil, Sajith, too likely to be summoned

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has initiated an inquiry into the shifting of the Agriculture Ministry situated at Rajamalwatte, to a building belonging to the D. P. Jayasinghe Group of Companies, at Rajagiriya, during the Yahapalana government.

The building was rented for a five-year period at a cost of over Rs 1 bn by the yahapalana government within months after the then President Maithripala Sirisena declared opened the 10-storey building complex.

The CIABOC yesterday morning recorded former yahapalana minister Gayantha Karunatilleke’s statement in connection with the investigation. Later in the day, CIABOC recorded the statement of SJB General Secretary Ranjith Maddumabanadara. Earlier CIABOC summoned former ministers Thalatha Atukorale, Wajira Abeywardena and Lakshman Kiriella. At the time of the finalisation of the deal, KIriella was in the UNP.

Sources said that former PM and President Ranil Wickremesinghe, too, was likely to be questioned in this regard. Responding to The Island queries, sources pointed out even SJB leader Sajith Premadasa was expected to be questioned.

The then Speaker Karu Jayasuriya is on record as having said that the building was rented in keeping with a decision taken by the government and not Parliament.

The UNP-SLFP coalition shifted the Agriculture Ministry to accommodate 16 Sectoral Oversight Committees therein.

Although the government paid as much as Rs. 21.5 mn monthly rent to D.P.A. Jayasinghe Company, the Agriculture Ministry failed to move in for over a year. The then Agriculture Minister Duminda Dissanayake sought Cabinet approval on Dec 1, 2015 to rent the building.

According to inquiries conducted earlier by the Presidential Commission appointed to probe state sector corruption, the Agriculture Ministry sought Cabinet approval for a new building after the then Prime Minister Wickremesinghe submitted a cabinet proposal on 21 September, 2015, to use the Agriculture Ministry building for Parliament’s sectoral oversight committees.

PM Wickremesinghe’s Secretary Saman Ekanayake has told the Commission that public funds could have been saved if the several vacant floors of Suhurupaya belonging to the Defence Ministry had been made available to the Agriculture Ministry.

By Shamindra Ferdinando ✍️

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SL Railways suffers staggering losses; more than 2/3 of rail tracks out of service

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Army personnel engaged in repairing damaged railway tracks in the Boo Oya area. Cyclone Ditwah caused extensive damage to railway tracks in several parts of the country (pic courtesy Army)

Railway sources said that the damages caused to railway tracks could be more than USD 300 mn.

According to UNDP Rapid Crisis Assessment Sri Lanka’s railroad system, over 278 km of railways were exposed to cyclone-related flooding, including 35 railroad bridges nationwide. This figure reflects flooding only, but other hazards (such as localised debris, landslides, or damage to a single bridge) can also disrupt operations, meaning that even relatively small obstructions can render long stretches of railway non-operational. Like road exposure, railway exposure limits mobility and the capacity of affected populations to access key services and infrastructure.

At the level of divisional secretariats, Colombo and Thimbirigasyaya in Colombo District, Ja Ela in Gampaha District, as well as Mannar Town and Nanaddan in Mannar District all registered over 10 km of exposed railways each.

Commissioner-General of Essential Services B.K. Prabath Chandrakeerthi is on record as having said that only 478 kilometers of Sri Lanka’s 1,593-km railway network were currently usable following extensive damage caused by the recent cyclone.

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US, SL advancing free, open, and resilient Indo-Pacific region: Embassy

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Allison Hooker

Under Secretary of State for Political Affairs Allison Hooker arrived in Colombo yesterday (11) to underscore US interest in defence, trade and maritime security in line with their Indo-Pacific strategy.

The US embassy here issued the following statement: “Under Secretary Hooker will meet with Sri Lankan counterparts to discuss a wide range of bilateral issues, focused on deepening economic and commercial ties, strengthening defence cooperation, and supporting Sri Lanka’s economic and maritime sovereignty.

The United States and Sri Lanka share a strong and enduring partnership rooted in our mutual commitment to regional security, economic growth, and prosperity for our peoples. Through close cooperation on defence, trade, and maritime security, we are working together to advance a free, open, and resilient Indo-Pacific region.

As we continue to build on our strategic partnership, the United States also stands with the people of Sri Lanka as they respond to the devastating impacts of Cyclone Ditwah. We remain committed to working together to address both immediate challenges and long-term opportunities for our two nations, reflecting our ongoing commitment to the U.S.-Sri Lanka partnership.”

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