Business
Allianz Insurance Lanka lends its support to ‘Preserving Land and Nature’
In a decisive step that merges environmental responsibility with corporate purpose, Allianz Insurance Lanka Limited launched a groundbreaking partnership with the Wildlife and Nature Protection Society (WNPS) recently to support its Preserving Land and Nature (PLANT) initiative, a bold and science-driven conservation effort aimed at rebuilding Sri Lanka’s fragmented ecosystems.
The partnership marks a defining moment for the insurance sector in Sri Lanka, introducing a new model of sustainability-linked customer engagement. For every motor and travel insurance policy sold from October 30, 2025, Allianz Lanka will contribute funds—at no cost to customers—toward reforestation, habitat restoration and biodiversity conservation projects countrywide.
This is more than a CSR gesture; it is a strategic realignment of business and sustainability—a move that reinforces Allianz’s global commitment to ESG leadership, while setting a benchmark for responsible corporate citizenship in Sri Lanka.
“Allianz has always believed that protecting what matters most goes beyond insurance, it’s about safeguarding the planet and the future we all share, Prashant Grover, Chief Executive Officer and Country Manager of Allianz Insurance Lanka Limited, told journalists at a media briefing held at One Galle Face.
“At Allianz, we have a robust sustainability agenda centered on mind, body, and society. Our global ESG strategy focuses on achieving net-zero emissions by 2050 and reducing internal emissions by 70 percent by 2025 compared to 2019 levels, Grover explained, emphasizing that Allianz’s sustainability ethos is embedded within its operational DNA rather than confined to peripheral projects.
This partnership, Grover noted, is about creating shared value, turning every customer into a participant in climate action. “Through PLANT, we are giving our customers the opportunity to contribute directly to Sri Lanka’s environmental restoration and biodiversity conservation, without paying a cent more. It’s a meaningful way to extend the impact of insurance beyond financial protection to environmental protection.”
The PLANT initiative, founded under the umbrella of WNPS, the oldest and most active conservation organization in Sri Lanka focuses on building forest corridors to reconnect fragmented ecosystems, a challenge exacerbated by unplanned development.
“Many of Sri Lanka’s endemic species live outside protected areas, said Sriyan de Silva Wijeyeratne, chairperson of the PLANT initiative. “If we truly want to protect what’s uniquely ours, we must protect the habitats where our endemic species actually live. That’s why PLANT focuses on creating forest corridors that connect these ecosystems and allow wildlife to move safely.”
Unlike traditional tree-planting drives, PLANT takes a science-led ecosystem approach. “We are not about planting trees; we are about restoring ecosystems, Wijeyeratne emphasized. “Sometimes that means grasslands, sometimes forested patches, depending on the species and terrain. Our goal is ecological connectivity and biodiversity recovery.”
Since its inception, PLANT has established operations in 33 locations, securing over 2,500 acres and creating nearly 25 kilometers of forest corridors across the country. Current projects include the Budunwela Reforestation Project, protecting 24 acres critical for elephants and leopards and several corridor creation initiatives in the hill country plantations, where over 20 kilometers of habitat links are being restored in partnership with estate companies.
What makes this collaboration distinctive is its integration of sustainability into the core business model of an insurance provider. Rather than offering post-profit donations, Allianz Lanka has embedded environmental contribution directly into every policy.
From a business standpoint, Allianz’s partnership with WNPS represents a strategic response to the evolving market expectations surrounding ESG performance.
“Modern investors, customers, and regulators increasingly demand demonstrable environmental and social impact from companies, said a senior market analyst familiar with the insurance sector. “What Allianz has done is create an ESG-aligned product differentiation strategy—leveraging sustainability not just as a compliance metric, but as a driver of customer loyalty and brand equity.”
“Allianz Lanka is showing how corporates can bridge the gap between conservation and citizen communities, said Jehan CanagaRetna, Past President of WNPS. “They’ve moved beyond ad-hoc CSR to embed sustainability into their business. By sacrificing some short-term profits, they are creating a foundation for long-term environmental impact.”
By Ifham Nizam
The Colombo Stock Exchange (CSE) announces the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2026 Mid-Year rebalance.
The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 22nd June 2026 (after the market close of 19th June 2026) are presented below.
The S&P SL 20 index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum size, liquidity and financial viability thresholds. The constituents are weighted by float-adjusted market capitalization, subject to a single stock cap of 15%, which is employed to reduce single stock concentration.
The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS®), which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world.
To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of 500 million Sri Lankan rupees (Rs), a six-month median daily value traded of Rs 0.25 million and have positive net income over the 12 months prior to the rebalancing reference date. For information, including the complete methodology, please visit: www.spindices.com
Effective from 22nd June 2026 the stocks in the S&P Sri Lanka 20 in alphabetical order are as above.
The Teejay Group recorded revenue of LKR 60.04 billion during the period, reflecting a 10% year-on-year decline, primarily due to continued softness in global textile demand. This performance was largely impacted by reciprocal tariffs imposed by the United States, intensified pricing pressures across key markets, and the resulting decline in volumes, all of which collectively weighed on topline growth.
Group Gross Profit declined by 36% year-on-year to LKR 5.02 billion, mainly attributable to lower production volumes, underutilization of plant capacity, sustained pricing pressures, and an unfavorable product mix. Together, these factors adversely affected margin performance amid a challenging operating environment.
The Group reported a Profit After Tax (PAT) of LKR 54.7 million, representing a 98% year-on-year decline. This was primarily driven by higher rupee-denominated costs and non-recurring items, provision for doubtful debts, and restructuring costs associated with right-sizing initiatives.
Ajit Gunewardene, Chairman of the Teejay Group said, “The year was marked by persistent global demand softness and pricing pressures, which impacted results. Despite this, we focused on operational efficiency, cost discipline, and strengthening our financial resilience. These actions position the Group to navigate ongoing uncertainty while remaining committed to long-term value creation for our shareholders.”
Despite these near-term challenges, the Teejay Group continues to maintain a strong financial position, supported by disciplined working capital management and a robust liquidity base. As at 31 March 2026, cash and cash equivalents stood at LKR 8.3 billion, while the Group’s net asset base increased by 3% year-on-year to LKR 32.4 billion, reinforcing the resilience of its balance sheet.
Fairfirst Insurance has once again partnered with the Sri Lanka Police K9 Unit, continuing its support for the seventh consecutive year. This partnership reflects the company’s long-standing commitment to giving back to the community.
Through this initiative, Fairfirst will provide comprehensive insurance coverage for the highly trained canines attached to the Sri Lanka Police K9 Unit. These dogs play a critical role in supporting police operations across the country, assisting with crime detection, narcotics investigations, search and rescue missions, and public safety efforts.
As a company that believes business should create a meaningful impact beyond insurance, Fairfirst remains committed to initiatives that support communities and recognise the vital contributions of those who help keep society safe. This shared commitment to protection and responsibility continues to drive the company’s long-standing partnership with the Sri Lanka Police K9 Unit.
Commenting on the continued partnership, Ravishankar Wickneswaran, CEO of Fairfirst Insurance, said, “It is a privilege for us to continue supporting the Sri Lanka Police K9 Unit for the seventh consecutive year. These dogs serve the country with incredible discipline and loyalty, often in challenging situations. Supporting their wellbeing is one small way for us to give back, and it reflects the FairfirstWay of standing by those who protect and serve our communities every day.”
Fairfirst looks forward to continuing this partnership and contributing to the wellbeing of the Sri Lanka Police K9 Unit in the years ahead.
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