Business
Upul Wijesinghe appointed to the AIA Sri Lanka Board of Directors
AIA Sri Lanka has announced the appointment of Upul Wijesinghe as an Executive Director of the Board of Directors (BOD) with effect from January 30, 2023 subject to the approval of the Insurance Regulatory Commission of Sri Lanka. Upul is the Deputy Chief Executive Officer and Chief Distribution Officer of AIA Sri Lanka. He is a highly respected insurance professional in the industry with over 30 years of experience.
An AIA news release said Upul started his journey with the Company as a Graduate Management Trainee and climbed up the corporate ladder through his career with the Company. He has gained extensive exposure in general management, all aspects of life and general insurance including sales, technical covering also underwriting, reinsurance and multiple distribution channels at various levels and also received both local and international training opportunities with the Company. He has previously held the statutory positions of Specified Officer and the Principal Officer of the Company as well.
Upul is an Associate Member of the Chartered Insurance Institute of UK and a Chartered Insurer. He holds a B.Sc. (Hons) in Mathematics from the University of Colombo and a Post Graduate Diploma in Actuarial Science from Uva Wellassa University.
Upul was the President of the Sri Lanka Insurance Institute (SLII) from 2001 to 2003. He was instrumental in establishing SLII’s Insurance Agency qualification examination for Sri Lanka and the National Insurance Congress. In an ultimate honour, he was inducted to the Hall of Fame of SLII in 2015.
Upul was instrumental in setting up AIA’s highly successful life agency sales force and its best-in-class operational model island wide with over 100 branches, over 4000 agents and 350 Agency leaders. He has received many accolades locally and internationally including AIA Group’s ‘Best Growth CAO Award 2021’ and ‘2H Rebound CAO Challenge Category 2020’. This new appointment to the AIA Sri Lanka’s BOD is yet another outstanding milestone in Upul’s professional journey.
Tan Hak Leh, Chairman of AIA Sri Lanka, welcoming Upul to the Board noted that Upul will be adding much value to the Board with his vast experience in the local insurance industry and his leadership contribution in steering the business forwards in a challenging environment. He further stated that this appointment is another apt demonstration of AIA Group’s trust in and appreciation of the local talent in Sri Lanka.
Chathuri Munaweera, CEO/Executive Director of AIA Sri Lanka congratulating the appointment, added that the appointment of Upul Wijesinghe to the Board of Directors is a testament of his commitment, dedication, and capacity to support the Company in the long term, in pursuing its ambitious aspirations and providing much needed insurance protection to Sri Lankans.
Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.
His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.
He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.
The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.
Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.
Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.
Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.
Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.
In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.
-
Features6 days agoRuGoesWild: Taking science into the wild — and into the hearts of Sri Lankans
-
News5 days agoOrders under the provisions of the Prevention of Corruptions Act No. 9 of 2023 for concurrence of parliament
-
Features7 days agoNew species of Bronzeback snake, discovered in Sri Lanka
-
News5 days agoProf. Rambukwella passes away
-
Business14 hours agoPick My Pet wins Best Pet Boarding and Grooming Facilitator award
-
News7 days agoPhoto of Sacred tooth relic: CID launches probe
-
Opinion6 days agoSri Lanka’s Foreign Policy amid Geopolitical Transformations: 1990-2024 – Part IX
-
Features7 days agoSri Lanka’s Foreign Policy amid Geopolitical Transformations: 1990-2024 – Part VIII