Business
Union Assurance study reveals low saving patterns among Sri Lankans
Leading Life Insurer, Union Assurance commissioned a research study with the expertise from pioneer in the market and social research, Survey Research Lanka, with the objective of better understanding the savings and retirement habits of Sri Lankans in order to encourage healthy savings for a financially secure future. The research was further validated by Prof. K.A.P. Siddhisena, Emeritus Professor of the Faculty of Arts, University of Colombo.Union Assurance takes pride in launching this study to uncover valuable insights and information.
The data collection period for the study was post-covid and pre-crisis, and the sample size was 1,004 people from 9 provinces in Sri Lanka.According to the study findings, people have a positive attitude towards saving for the future. An overwhelming 70% of respondents believe that retirement savings are extremely important. However, only 27% of them save an adequate amount, while 21% have no savings yet.Current Saving % from Gross Salary for the Future
The amount saved by Sri Lankans generally falls well below 10-15% of one’s gross salary recommended by financial planners (CNBC, 2019). According to the study, nearly one-quarter of the population has no future savings, while 37% save only between 1% and 5% of their income (which is insufficient). As shown, only 20% of the population has a healthy saving pattern as it is in line with expert opinions on saving above 10%.It is indeed regrettable that only 48% of respondents said they have a plan to save for the future.
Pandemic Impact on Saving
A significant impact was evident between income earned and saving patterns. As many as 40% of respondents stated that their income decreased to a greater extent, while 49% stated the same about their savings. Only 20% experienced no change in income or savings.
Trust in Life Insurance Companies More interesting insights gained on trust levels in Life insurance companies as a source of future savings. While 13% said their trust level is extremely high, 41% said their trust level is somewhat high. Therefore, over 50% of the population has high levels of trust in Life insurance.
Financial Safety Net
Life Insurance offers a financial safety net for citizens, particularly during tough times. The stability of your future is largely dependent on your savings. Life Insurance ensures that policyholders and their families are continuously protected.
It is unfortunate that Sri Lanka’s household savings rate has steadily declined over the last decade (World Bank, 2021). This is particularly worrying since 12.3% of the population is aged 60 or older, making it the country with the fastest ageing populations in South Asia (World Bank, 2021). Therefore, income insecurity in old age is going to be a serious issue in the future. Hence, there is a need to encourage people to invest in insurance plans offered by Life insurance companies.
In conclusion,
Saving money is important to ensure a secure financial future. Setting a saving target helps indicate how much one should save over time for their future. The sooner one starts saving and investing, the greater the long-term benefit.
Visit www.unionassurance.com for the full report.
Business
Ceylinco Life celebrates its ‘Unstoppable Champions’ at Annual Awards 2026
The power of momentum was the focus when Ceylinco Life, Sri Lanka’s life insurance market leader for an unbroken 22 years, celebrated the exceptional achievements of its top-performing sales force at its Annual Awards Ceremony 2026, held at Cinnamon Life Colombo.
Bringing together more than 300 of the company’s highest achievers, the event recognised Sales Officers who attained High Flyers status, qualified for the prestigious Million Dollar Round Table (MDRT), or earned ‘Sales Superstar’ status in 2025, each having met rigorous performance benchmarks. In total, close to 370 awards were presented at the ceremony, which was attended by over 450 participants including the company’s Board of Directors and senior management.
Themed ‘Unstoppable Champions,’ the awards ceremony underscored the spirit of resilience, ambition and consistent excellence that defines Ceylinco Life’s sales force, positioning the awardees as drivers of the company’s sustained market leadership.
The event was graced by Chief Guest Srinivasa Rao, Managing Director – Life and Health (South Asia and South East Asia) at Munich Re, and featured an evening of scintillating entertainment with performances by Sanka Dineth, Shashika Nisansala, the Naadro Band and Prashanthini, complemented by dance acts from Muddrika Dance Studio.
Among the highlights of the evening was the presentation of two Toyota Axio motor cars to R. P. Edirisinghe and S. S. H. M. T. Laksiri in recognition of their consistent excellence in qualifying as High Flyers and MDRT members. The top honours at the awards ceremony were presented to Mr A. S. L. Fernando as Best Agency Head, H. D. Pathirana as Best Agency Supervisor, A. I. P. Manjula as Best Life Insurance Advisor, and J. Meera as Best Regional Sales Manager.
Business
Kia drives into Colombo’s skyline with landmark showroom at Altair
Top Korean nameplate Kia has reinforced its presence in Sri Lanka with the opening of a striking new showroom at the iconic Altair high-rise in Colombo, marking a significant step in the brand’s continued expansion and customer engagement in the country.
The new facility, unveiled exclusively to media on 7th April 2026, occupies approximately 2,700 square feet of prime space at Retail 3 of the Altair development.
Strategically positioned at the entrance to the complex for maximum visibility and accessibility, the showroom places Kia at the heart of one of Colombo’s most prominent luxury residential and lifestyle destinations.
Designed in line with Kia’s global brand guidelines, the showroom presents a modern, customer-centric environment that reflects the company’s focus on innovation, quality and service excellence. The space is intended to offer an immersive retail experience, enabling customers to explore the brand’s evolving portfolio in a setting that mirrors international standards.
“The opening of this new showroom signals Kia’s renewed commitment to Colombo, strengthening its proximity to customers while enhancing convenience and accessibility for those seeking to engage with the brand,” Kia Motors Lanka Chairman Mahen Thambiah said. “It represents a key milestone in our strategy to deepen customer relationships and expand the Kia footprint across key urban locations.”
Taking centre stage at the new showroom is the all-new Kia Tasman, the brand’s first-ever double cab pickup, which makes its debut in Sri Lanka in tandem with the opening. The introduction of the Tasman underscores Kia’s drive to diversify its offering and respond to the evolving demands of customers across multiple segments.
In addition to the Tasman, visitors to the Altair showroom can experience Kia’s full range of vehicles, further enhancing the brand’s appeal to a broad spectrum of automotive enthusiasts.
Business
Nalin Sri Tikiri Bandara: forging discipline and character through martial arts
After nearly three decades on the mat, Sri Lankan martial arts instructor H. M. Nalin Sri Tikiri Bandara has built a career that stretches from local dojos in Kandy to international training arenas in the United Arab Emirates, shaping a growing generation of students through what he describes as “a lifelong journey of discipline and self-development.”
With more than 28 years of experience, Bandara has emerged as a prominent figure in martial arts education for children, youth and adults, particularly across Sri Lanka and the UAE, where he is currently based in Abu Dhabi.
Bandara’s martial arts journey began at a young age and has since spanned multiple disciplines, including Kyokushin Karate, Ashihara Karate, Mumonkai Karate, Brazilian Jiu-Jitsu and yoga.
He holds several international dan rankings, including 3rd Dan in Kyokushin Karate (Japan), 4th Dan in Ashihara Karate (Australia), 2nd Dan in Mumonkai Karate (Japan), and 1st Dan under Josui Kai Kan Karate (Japan). Years of training camps, seminars and competitions abroad, he says, have helped refine both technical skill and teaching philosophy.
Bandara is the founder and chief instructor of Nalin Dojo, which operates across multiple locations, including a main branch in Abu Dhabi and an established centre in Kandy. He also runs expansion programmes in schools and fitness centres in the UAE.


Collectively, his programmes have trained more than 2,000 students, ranging from children as young as four to adults.
He also serves as branch chief and representative of the World Karate Alliance Kyokushin Bugakukai, and contributes to the development of full-contact karate at national level in Sri Lanka.
At the core of his teaching is a hybrid approach he calls “Yoga Martial Arts”, blending karate discipline, yoga-based mental conditioning, Brazilian Jiu-Jitsu principles and sports science.
The focus, he says, extends beyond physical combat to character formation, emphasising discipline, respect, confidence-building and mental resilience.
“Martial arts is not just about fighting, it is about building better human beings,” Bandara said.
Much of his work is directed at children and adolescents, particularly in an era he describes as increasingly dominated by digital distractions.
He argues that structured martial arts training can reduce screen dependency, improve concentration, and strengthen emotional stability, while promoting healthier lifestyles.
“Children’s future is the future of the community,” he said, underscoring his belief that early discipline shapes long-term social outcomes.
Beyond regular training, Bandara organises grading examinations, workshops, school programmes and community fitness initiatives in both Sri Lanka and the UAE.
He has continued such activities even during periods of global disruption, maintaining regular engagement with students and instructors.
Looking ahead, Bandara plans to expand his dojo network across the UAE and internationally, while developing structured youth development programmes and training future instructors.
His long-term ambition is to build a sustainable martial arts ecosystem that integrates physical excellence with character education.
In a career defined by discipline and continuity, Bandara represents a generation of martial arts instructors blending traditional combat systems with modern wellness principles — and, in the process, attempting to shape not just fighters, but future citizens.
by SK Samaranayake
-
Latest News7 days agoPNS TAIMUR & ASLAT arrive in Colombo
-
Latest News6 days agoPrasidh, Buttler set up comfortable win for Gujarat Titans
-
News4 days agoPNS TAIMUR & ASLAT set sail from Colombo
-
Latest News5 days ago“I extend my heartfelt wishes to all Sri Lankans for a peaceful and joyous Sinhala and Tamil New Year!” – President
-
Latest News6 days agoHeat Index at Caution level’ in the Northern, North-central, North-western, Western and Southern provinces and in Trincomalee district.
-
Business2 days agoHarnessing nature’s wisdom: Experts highlight “Resist–Align” path to resilience
-
News2 days agoHeroin haul transported on 50-million-rupee contract
-
Latest News6 days agoSalt and Patidar power RCB past Mumbai Indians

