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HNB Assurance and HNB General Insurance announce CEO appointments to boards

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A key leadership announcement was made with the appointments of Lasitha Wimalaratne as Executive Director/CEO of HNB Assurance PLC, and Sithumina Jayasundara as Executive Director/CEO of HNB General Insurance Limited.

Both Wimalaratne and Jayasundara currently serve as Chief Executive Officers of their respective companies.

Commenting on the appointments, Stuart Chapman, Chairman of HNB Assurance PLC and HNB General Insurance Ltd., stated:

“I’d like to extend my warmest congratulations to both Lasitha and Sithumina on their appointments to the respective Boards. Their leadership and contributions have been instrumental in driving growth and stability across the businesses. I am confident their appointments will further strengthen our strategic direction and enhance shareholder value.”

Lasitha Wimalaratne brings over 27 years of experience, including 24 years in life insurance, with multinational stints at Aviva and AIA, and three years in retail sales and marketing in London. Before joining HNB Assurance in 2019, he served as General Manager – Life Operations and Specified Officer at Softlogic Life. He later held the roles of Chief Operating Officer and Principal Officer at HNB Assurance.

He holds an MBA from the University of Wales (UK), a BA (Hons) in Business Studies from the University of Sunderland (UK), and is a Fellow of the Chartered Insurance Institute (FCII), the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), and an Associate Member of the Chartered Institute of Marketing (UK). He currently serves as President of the Insurance Association of Sri Lanka (IASL) and previously led the Sri Lanka Insurance Institute (SLII). He also served on the board of Biodiversity Sri Lanka.

Sithumina Jayasundara has more than 27 years of experience in the Sri Lankan insurance industry, with leadership roles at Asian Alliance, MBSL, Janashakthi, and Eagle Insurance. He has undergone international training in reinsurance and joined HNB General Insurance in 2014. Rising rapidly through the ranks, he became Chief Technical Officer, Specified Officer, COO, and eventually CEO.

He holds an MBA from Cardiff Metropolitan University (UK), is a Chartered Insurer, and an award winner of the Advanced Diploma in Insurance (ACII – UK). He is also a Senior Associate of ANZIIF. Jayasundara has served as President of SLII, is a founding Council Member of ACIP, and currently serves on the IASL and the Expert Advisory Committee for the InsurInnovator Connect Global Series – Asia 2025.



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Payment of Compensation to the people who have lost their cultivable lands in implementing the Uma Oya Multipurpose Development Project

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Approval has been granted at the Cabinet meeting held on 27-06-2012 to provide cultivable agricultural lands from the lower Uma Oya valley to 276 farming families in Hali-Ela, Walimada, and Uva Paranagama Divisional Secretariat Divisions who have lost their cultivable lands due to the acquisition of lands for the
Uma Oya Multipurpose Development Project.

However, the aforementioned proposal could not be implemented due to the encroachment of a large portion of the identified lands by unauthorized persons, heavy forest cover, the threats posed by wild elephants, remoteness from their original settlements, and difficulties in adapting to other environmental conditions and social anomalies.

Accordingly, the Cabinet of Ministers has approved the resolution furnished by the Minister of Agriculture, Livestock, Land, and Irrigation to pay an estimated compensation of Rs. 12 lakhs for each of these 276 farming families, based on the
recommendations submitted by the Cabinet Sub-Committee appointed to provide solutions for the issues arising in the implementation of the Uma Oya Multipurpose Development Project.

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Draft Bill of the Chartered Institute of Media Professionals of Sri Lanka to be Gazzated

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Policy approval was granted at the Cabinet meeting held on 07.04.2025 to prepare a draft bill to establish the Chartered Institute of Media Professionals of Sri Lanka in order to accomplish the requirement of a training institution to carry out studies in order to create chartered media professionals and mould intelligent media personalities with skills in order to enhance the quality and standard of the media society.

Clearance of the Attorney General has been received for the final draft prepared by the Legal Draftsman for the purpose.

Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Health and Mass Media to publish the draft bill of Chartered Institute of Media Professionals of Sri Lanka in the Government Gazette Notification and thereafter submit the same for the concurrence of the House.

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Telecommunication Levy Act No. 21 of 2011 to be amended

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The Telecommunication Levy Act No. 21 of 2011 has enabled provisions to impose telecommunication levy. The budget 2026 has proposed to introduce amendments for the act including changes imposed from time to time regarding the telecommunication levy.

Accordingly, the Legal Draftsman has formulated a draft bill for
amending the Telecommunication Levy Act No. 21 of 2011 including provisions to extend applicable to envisage all the tax amounts applicable from the year 2015 along with the telecommunication levy existing at present, applicable of taxes on unrecovered revenue (bad debts) and to extend the provisions of that act to cater the telecommunication suppliers.

The Cabinet of Ministers approved the resolution furnished by the  President in his capacity as the Minister of Finance, Planning and Economic Development to publish the said draft bill in the Government Gazette Notification and subsequently to submit the same for the concurrence of the House.

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