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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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Sri Lanka, India caught in US-Iran ship crisis

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By Shamindra Ferdinando

Iran has sought the Indian intervention, at the highest level, to provide lifesaving support to the crews of empty Iranian vessels stranded just outside Sri Lanka’s 12-nautical mile territorial waters off Galle.

Sources familiar with the issue said that Iran had brought the developing situation to the attention of New Delhi as the crews of almost 20 vessels, included Indian nationals. Sources stressed that the group of vessels that unloaded crude oil a couple of months back were now stranded within Sri Lanka’s Exclusive Economic Zone (EEZ).

The US Navy torpedoed an unarmed Iran frigate, returning from India, on 04 March, 2026, about 19 nautical miles off the Galle coast. The unprovoked attack killed nearly 100 Iranians.

The Iranian Embassy in Colombo has inquired from the Indian High Commission of their response to the situation, sources said. The US has issued a global warning against providing food, water, medicine and other services to the Iranian vessels. The outcome of Iran-India talks on the issue at hand was not known, though sources asserted India may not throw its weight behind Iranian efforts to address the issue.

Responding to The Island queries, sources said both Sri Lanka and India were in a dilemma due to the US warning. India couldn’t ignore the plight of the Indian crew members and the Iranian vessels in its backyard.

The Sri Lankan government remains tight-lipped about the vessels stranded in its EEZ. Our efforts to elicit a response from relevant authorities were in vain. In addition to Indians, there are Bangladeshis among the crew members. Iran has explicitly stated the responsibilities of the countries concerned to provide assistance in terms of international law.

The Iranian position was articulated by its Ambassador to Sri Lanka, Dr.Alireza Delkhosh, recently. In a special statement, Ambassador Delkhosh emphasised that in terms of the Convention on the Law of the Sea (Article 98) as well as SOLAS and SAR

Conventions, Sri Lanka couldn’t refrain from providing the needs of the Iranian vessels stranded in its EEZ.

SLMC leader Rauff Hakeem lambasted the NPP government in Parliament for failing to provide assistance to the Iranian ships. The former Minister alleged that the government was simply carrying out dictates of the US. He strongly criticised the way Foreign Minister Vijitha Herath was handling the issue.

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Namal further remanded

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MP Namal Rajapaksa being brought to the Colombo Magistrate’s Court yesterday. Pic by Nishan S Priyantha

MP Namal Rajapaksa, who is in remand custody over the controversial Airbus deal, was further remanded until October 27 by the Colombo Magistrate’s Court yesterday (13).

Colombo Chief Magistrate Asanga S. Bodaragama made the order after considering submissions by officers of the Commission to Investigate Allegations of Bribery or Corruption and lawyers representing Rajapaksa.

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IMF projects Lankan economic growth to moderate amidst mounting global uncertainties

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Sri Lanka’s economy is expected to sustain its recovery over the next two years, although growth is projected to moderate amid mounting global uncertainties, according to the International Monetary Fund’s (IMF) latest World Economic Outlook.

In its World Economic Outlook 2026: Resilience Under Strain, Urgent Choices, the IMF projects Sri Lanka’s economy to expand by 4% in 2026, slowing to 3.7% in 2027, following estimated growth of 5% in 2025.

Inflation, meanwhile, is forecast to rise to 5.3% in 2026 and 5.4% in 2027, reversing the average deflation rate of 0.5% recorded in 2025.

Unemployment is expected to remain steady at 3.9% throughout the forecast period.

The projections come amid growing pressure on the global economy from the ongoing conflict in the Middle East, elevated energy prices, geopolitical tensions and trade disruptions.

Sri Lanka’s external position is also expected to weaken, with the current account balance projected to shift from a surplus of 1.6% of gross domestic product (GDP) in 2025 to deficits of 0.5% in 2026 and 0.3% in 2027.

The IMF’s outlook points to continued economic expansion in Sri Lanka, but with slower growth, rising inflation and a narrowing external surplus giving way to current account deficits over the forecast period.

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