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Amana Takaful posts impressive Q1 revenue growth amidst challenging environment

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Amana Takaful Insurance, recently posted handsome financials and growth, for Q1 of 2022, recording a rapid YoY growth of 42% with a total Gross Written Premium (GWP) revenue of LKR 889 million within the quarter. This comes on top of the stellar growth delivered by the company throughout 2021, where Amana Takaful Insurance won several awards for maintaining steady and rapid growth – including the award for the “Fastest Growing Insurance Company in Sri Lanka” by The Global Economics.

It must be further highlighted athat this 42% YoY growth for Q1-2022, is on top of the 27% growth gained by Amana Insurance in Q1-2021, signifying the exponential growth the company has achieved over the past two years. These GWP revenue growth rates were among the highest in the local general insurance industry.

In Q1-2022, the GWP for Motor insurance rose by a whopping 50%, while non-motor GWPs also noted a hefty 34% growth during the period. In the non-motor category, Medical, Marine, and Fire & Engineering insurance delivered GWP growths of 47%, 18% and 12% respectively. Thus, in nearly every segment, Amana Takaful Insurance has been a high performer thus paying testament to its unique and people-friendly Takaful insurance solutions.

Discussing the Company’s exceptional performance, Shehan Feisal, CEO of Amana Takaful Insurance said, “2021 was an excellent year for us, and based on the Q1 results for this year, we can expect the same for 2022. The past two quarters have been specifically exceptional for us, delivering the highest GWP growth rates we have had since the launch of our refreshed identity in January 2021. We are pleased to note that our robust growth rates continue to be among the highest in the industry – since 2021, which has significantly contributed to our rising market share. Our efforts in the motor insurance segment have also paid off, delivering a stellar growth of 50%, and this segment will be a critical part of our strategy going forward.

2021 also witnessed Amana Takaful Insurance conduct significant reforms to its distribution strategy via the branch network. The positive impact of this initiative is reflected in the branch network posting a growth of 22% for the quarter, assisting the company to achieve an all-time sales record in the month of March 2022. Commenting on this positive development, Zakir Kanaka – AGM for Branch Sales Distribution at Amana Takaful Insurance said, “Despite challenging market conditions, we witnessed considerable growth in all three classes of business (motor, medical, non-motor) in Q1 2022. The success of the sales teams was largely due to enhanced productivity and resource optimization. The entire sales force, and operational teams were committed and put in a lot of effort in delivering business results during these challenging times.”

Amana Takaful Insurance pioneered a unique concept of Insurance (Takaful) in Sri Lanka which is based on customer-centricity and ethical practices, and has today become a fully-fledged insurance company in Sri Lanka. Amana Takaful Insurance was incorporated as a Public Company in 1999, and has been listed on the Colombo Stock Exchange since 2006, Amana Takaful Insurance has expanded its geographic foot-print through 35+ branches across Sri Lanka, covering all provinces. An ISO 9001 accredited organization, Amana Takaful Insurance has also maintained an overseas presence in the Maldives since 2005, which was subsequently incorporated as a free-standing PLC and listed on the Maldives Stock Exchange (MSE) in 2011. Amana Takaful Insurance offers a complete range of Life and General insurance solutions as well as tailor-made health insurance policies to suit the overall health needs of diverse segments of society.



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HNB Finance bags 2 CMA Reporting Awards 2025

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Prof. Ho Yew Kee presents the award, while Rajeeva Bandaranaike hands over the certificate to the HNB Finance team. Featured (right to left): Thushara Jayasekara – Chief Manager / Head of Corporate Planning & Analytics; Randula Munindradasa – Assistant Manager Planning & Analytics; Sandakelum Jayathunga – Senior Manager – Financial Reporting; Maheshika Samarakoon – Manager – Strategy Implementation & Reporting

HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.

At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.

The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.

Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”

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ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises

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Mithila Shyamini, Assistant General Manager – Personal Banking at Commercial Bank and Jude Fernando, Chief Executive Officer of the National Credit Guarantee Institution exchange the agreement in the presence of representatives of the two organisations

The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.

The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.

Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.

‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.

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Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations

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Defence Secretary Air Vice Marshal (Retd) Sampath Thuyacontha receiving the donation from Sajith Gunaratne - General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera - General Manager of Ceylon Grain Elevators PLC

Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.

As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.

The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.

Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.

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