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AIA recognised as Sri Lanka’s Best Life Insurance Company

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AIA Sri Lanka is proud to be recognised as Sri Lanka’s Best Life Insurance Company in 2019, by the internationally acclaimed Global Banking and Finance Review. This prestigious recognition followed a detailed assessment of key performance indicators by the UK-based media powerhouse, that analyses the financial industry and the global economy.

‘The award is testimony to the significant contribution made by AIA Sri Lanka to the life insurance industry in terms of outstanding products and services, enhancing customer experience and serving local communities, a press release said.

‘AIA Sri Lanka has always remained strong and maintained financial strength and stability. The recent COVID19 pandemic proved that AIA Sri Lanka has indeed been built strong and built to last. With the highest Capital Adequacy Ratio (CAR) in Sri Lanka’s life insurance industry (of more than 600% and 5 times the required CAR by the regulator), AIA Sri Lanka has an unmatched ability to absorb risks and withstand crisis. This is supported by the company’s prudent investment strategy and high quality of investments., the release adds.

AIA Sri Lanka’s focus is always on delighting the customer. With a track-record of paying better than promised policyholder dividends for the past 30 years, the company is constantly evolving to meet customer expectations. The company’s pioneering digitalisation efforts and focus on ease-of-doing business has strengthened its reputation of being a truly customer focused insurer.

AIA Sri Lanka was the first and only insurer to win the LIMRA International Quality Award (IQA) for Growth in the world (2018) and also boasts IQA qualifiers for 2019- not to forget topping the number of MDRT qualifiers in Sri Lanka for 5 consecutive years, to date.

(MDRT is internationally recognised as the standard of excellence in the life insurance and financial services business.) This is a fitting acknowledgement of the relentless commitment and high level of professionalism shown by the company’s advisors in both the Agency Distribution and Bancassurance channels.

The company has also been recognised as a Great Place to Work® in Sri Lanka for eight consecutive years, in addition to being recognised as one of the ‘Best Workplaces for Women’ in Sri Lanka, in the inaugural awards presented by GPTW® Sri Lanka. These accolades demonstrate the company’s great workplace culture which encompasses equality, inclusivity and opportunity to grow.

Be it a donation to the Sri Lanka Heart Association, a partnership with the Sri Lanka Cancer Society, renovating underprivileged schools and hospitals around the island, saving lives during Poson or providing higher education scholarships, AIA Sri Lanka is a company with a big heart and giving back to the community has always been a priority. During the COVID pandemic, the company sprung to action in donating much needed PPE equipment to a hospital treating COVID patients, not to forget, providing free life insurance cover to all staff at three main hospitals dealing with the disease. The pandemic saw AIA Sri Lanka being the first insurer in the country to offer free COVID cover to all customers while also providing free telemedicine services to all customers during the curfew.

AIA Sri Lanka pursues its mission of helping people live healthier, longer, better lives through proactive efforts to promote health and wellness to all Sri Lankans, mainly through the AIA Vitality programme. This includes pioneering initiatives such as ‘Sri Lanka’s Healthiest Workplace Survey’ which aids workplace wellness.

Throughout it all, AIA Sri Lanka’s priority has been to help Sri Lankans become physically and financially strong, while enjoying life to the fullest, with those they love the most!

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CSE turnover hits Rs. 3 billion for third consecutive day

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By Hiran H.Senewiratne 

CSE recorded the highest turnover for the week, touching the  Rs. 3.billion  mark yesterday for the third consecutive day. The banking sector  counters dominated in turnover generation almost after two weeks closely followed by manufacturing sector  counters, making a combined contribution of 48 percent, stock market analysts said.

Foreign investors continued to be net-sellers while recording low participation. But yesterday the market was driven and mainly pushed  by retail investors. Further, corporate and institutional investors were also more active than on other trading days, analysts explained. 

All Share Price Index was up by 63.38 points and S and P SL20 up by 32.25 points.  Turnover stood at Rs.  3.54 billion with five crossings. Those crossings were reported in JKH, which crossed 1.5 million shares to the tune of Rs. 205.5 million, its shares trading at Rs. 137, HNB 1.34 million shares crossed for Rs. 183 million, its shares fetching Rs. 130.50, Commercial Bank 1.76 million shares  crossed for Rs. 146.7 million, its shares trading at Rs. 83, Sampath Bank 200,000 shares crossed for Rs. 27.4 million at a per share value of Rs. 137 and Lanka IOC one million shares crossed for Rs. 21 million, its shares trading at Rs. 21.

In the retail market, top five companies that mainly contributed to the day’s turnover were, Expolanka Rs.  330.7 (34 million shares traded), Sampath Bank Rs. 211.1 million (1.53 million shares traded), Commercial Bank Rs. 196 million (2.4 million shares traded), Browns Investment Rs. 152.9 million (55.5 million shares traded) and Tokyo Cement (Non Voting) Rs. 143.9 million (3.1 million shares traded). During the day 182 million share volumes changed hands in 26472 transactions. 

Banking sector, LOLC and Browns Investments contributed heavily to both CSE indices, mainly the All Share Price Index. LOLC share prices moved up by Rs. 3 or 2.2 per cent. Its shares started trading at Rs. 135 and at the end of the day it moved up to Rs. 138 and Browns Investment  share prices moved up by 11.5 percent or 30 cents. Its shares started trading at Rs. 2.60 and at the end of the day it moved up to Rs. 2.90. Further, Sampath Bank and HNB share prices appreciated by four percent  each during the day. Commercial Bank share prices also appreciated during the day,  stock market sources said.      High net worth and institutional investor participation remained subdued for the day while mixed interest was observed in Hayleys Fabric, Tokyo Cement Company, voting and non-voting, and Melstacorp. Retail interest was noted in Expolanka Holdings, Access Engineering and People’s Leasing & Finance. 

 

 

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SriLankan statement on New Delhi court case

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SriLankan Airlines wishes to state the following with regard to the Delhi court case against a former senior official of the airline and the subsequent media reports that are currently being circulated.

The case in the Metropolitan Magistrate- 05, Patiala House Court, New Delhi where an order has been delivered convicting a former Regional Manager of SriLankan Airlines, had been filed pursuant to a complaint made by a former Sales Executive on a personal matter against the said former Regional Manager of the airline. The airline was not a party to this legal action in which the order has been delivered.

The airline had received a complaint from that Sales Executive in 2011 alleging an incident took place in 2009 involving the said former Regional Manager and transferring her from the airline’s office in New Delhi to the office in Cochin.

Upon receiving the complaint, the airline had conducted an inquiry in terms of the Company’s special policy against harassment in 2011 and the Committee had determined that her transfer to Cochin had been based on commercial requirements. As the former Sales Executive had been dissatisfied with the outcome of the inquiry and she wanted another inquiry, the airline had conducted a further inquiry into her complaint in 2014 in line with the Sexual Harassment of Women at Workplace Prevention, Prohibition, and Redressal Act of 2013 in India, where the committee had been of the view that her complaint of “sexual harassment” could not be justified and her transfer to Cochin would stand.

As the former Sales Executive did not comply with the requirement of the Company to report to the office in Cochin, the airline was compelled to terminate her services on disciplinary grounds following the due procedure in terms of laws in India.

SriLankan Airlines is one of the first corporate entities in Sri Lanka who adopted a policy against harassment at workplace way back in 2007. SriLankan Airlines, as an entity that is committed to ensure safe working environment for all its employees, maintains a zero-tolerance policy against any kind of harassment.

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Litro Gas felicitates senior staff with Long Service Awards

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Long Service Award Winners 2020 with the chairman and CEO of Litro Gas Lanka Ltd. & Litro Gas Terminal Lanka (Pvt) Ltd.

Litro Gas has developed a unique legacy that combines the efficiency and tradition of a private enterprise with its state owned status.

In keeping with the company’s commitment towards recognizing and rewarding its employees who have grown with the company, Litro Gas recently feted its senior most staff at the Long Service Awards ceremony 2020.

A total of 33 employees were recognized by the company for their loyal and dedicated service spanning up to 35 years of continuous service to the LPG industry.

W.H.Padmasiri (35 Years), D.C.P.Wijesinghe, D.K.Nanda, W.A.S.P.Perera, K.D.J.T.Gunasekara, A.Pathmarajah, H.B.Weerasena, L.N.G.Perera, A.L.A.Nandana, K.S.Chandrathilake (30 Years) , K.K.M.P.Jayawardena, S.W.J.Senaratne, W.H.G.Wildeniya, B.Mahinda, Mrs. H.K.Nilmini, M.S.Punchihewa, N.P.S.A.H.Kumara, K. Sarathchandra, K.A.A.Priyadarshana (25 Years), Mrs. H.M.Chamani Pathirage, Miss.Shymalie Enoshie P Karunaratne, Ranil Palinda Seneviratne, Mrs. W.M.Lakmali C. Hapuarachchi, Mrs. H.Sunethra Sahabandu, S. Hiran Senewirathne, P.H.Vidanagamage , W.D.L.Nalin Achala, H.P.Pradeep Kumara, H.K.Chandraratne, Priya Kelum Alwis, D.K.N.G.Kumara Fernando, K.P.Weerasekera (20 Years) , Mrs. W.B.Sudeshini Wijewardena (15 Years).

“Recognizing our team members who have made a tremendous contribution to empowering the Litro Gas journey is an honour for us”, says Anil Koswatte, chairman and CEO of Litro Gas Lanka Ltd. & Litro Gas Terminal Lanka (Pvt) Ltd. “The team’s commitment has helped us emerge as the market leader in the Sri Lankan LPG industry with a 75% market share. We will continue to recognize and reward our employees as a part of the culture we have inherited from the past and continue to nurture at Litro Gas – a small, efficient team of 234 members managing the entire operation.”

He adds that those who have served through the years are an asset to the Company. “Their expertise and experiences have evolved through the years and have been a tremendous contribution to our success whilst upholding the Company’s values and ethics and stringently complying with the Health, Safety and Environment policies and procedures”.

The long service awards are a valuable component of Litro’s overall employee recognition efforts and play a significant role in motivating and engaging staff. Rewarding loyalty and commitment by recognising those who have dedicated their careers to the Company is proof that the organisation values and respects people who are committed and add value to the Company.

Litro Gas is recognized as an industry leader in the Sri Lankan energy sector with a turnover of Rs 45 billion. The Company’s LPG storage facility located at Kerawalapitiya and Hambantota Terminals deliver domestic gas across Sri Lanka through an island-wide network of 37 distributors, approximately 1,500 home delivery hubs and 11,000 points-of-sale locations.

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