News & market updates

ASPI closed up 0.27% (62.41 pts) to 22,839.53 as HNW-led buying and large crossings in ATL, JKH and DOCK supported the recovery. Turnover was Rs.7.78bn with a net foreign outflow of Rs.857m; capital goods, insurance and retailing led activity.

Sri Lanka Insurance Corporation General Ltd. (SLICGL) had its 'A+(lka)' National Insurer Financial Strength rating reaffirmed by Fitch with a Stable Outlook, and is the only A+ rated insurer in Sri Lanka. Fitch cited a strong franchise, wide distribution and a 277.3% risk-based capital ratio at end-2024, while noting sovereign exposure and near-term underwriting pressures.

The Insurance Regulatory Commission of Sri Lanka held “Insurance for All” roadshows in Jaffna (22 Oct) and Kilinochchi (23 Oct), attracting about 1,200 and 500 participants to boost insurance awareness. IRCSL announced initiatives including motor e-cards, an insurance repository with CRIB, simplified standard products and a reduced premium payment warranty from 1 Jan 2026.

HNB Assurance PLC signed a Memorandum of Understanding with Bank of Ceylon to expand bancassurance distribution of credit life insurance through BOC’s branch network, aiming to integrate protection solutions into BOC’s customer offering.

Assetline Insurance Brokers has partnered with Hutch Sri Lanka to provide complimentary travel insurance (US$5,000 cover on the popular 10GB weekly roaming plan) to Hutch roaming customers, with Allianz Insurance providing the policy.

Colombo Stock Exchange rebounded as the ASPI rose 0.39% (88 pts) to 22,777.12 with turnover around Rs 5.38bn and foreign investors net sellers of Rs 372.5m. Key movers included Windforce (+17.6%), Colombo Dockyard (-9.9%) and gains in LAUGFS Gas and Lanka Realty Investments.

Secondary bond yields fell after the Finance Ministry reported Jan–Sep fiscal outperformance, with the nominal deficit narrowing 54.5% to Rs.441.4bn and tax revenue up 32.5%. The move, reinforced by a central bank note that inflation may stay below target, pushed 2028–2030 yields lower ahead of a Rs.57bn T‑bill auction.

HNB General Insurance reported that Rumesh Wijethilaka won a SLIM National Sales Award 2025, highlighting the insurer’s sales excellence. The company said the accolade reflects its focus on developing a high-performing, customer-centric sales force.

Sri Lanka Insurance Life sales team members A. Supesan (Jaffna) and Amila Prasad (Kiribathgoda) won Silver and Bronze respectively at the Life Insurance Industry Sales Awards 2024 during the 16th NAFLIA, held on 8 September 2025.

Fitch Ratings reaffirmed Sri Lanka Insurance Corporation General Ltd.'s national insurer financial-strength rating at 'A+(lka)' with a Stable Outlook, keeping it Sri Lanka's only A+ rated insurer. Fitch cited strong market position and adequate capitalisation (risk-based capital 277.3% at end-2024) while noting sovereign exposure and recent underwriting profitability pressures.

Foreign holdings in Sri Lankan government securities rose to Rs.130.96 billion as of 23 October, the highest since 16 November 2023; foreign investors made net purchases of Rs.606 million in the week and cumulative inflows since 26 December 2024 total Rs.61.7 billion.

Sri Lanka Insurance General reported for the nine months to 30 Sep 2025 GWP of Rs.21,853m (up 18% YoY) and profit after tax of Rs.2,614m (up 17% YoY). The company held Rs.11.5bn in government securities, paid Rs.0.7bn in taxes, raised group dividends to Rs.1.5bn and received a Fitch A+ (lka) rating.

Softlogic Life (part of Softlogic Holdings) launched a World Children’s Day campaign, “The Power of Being Different,” urging adults to reframe common childhood traits; the insurer highlights it protects over 1.3 million lives. The campaign reinforces Softlogic Life's brand positioning and its use of technology/AI in claims and service delivery.

Colombo market opened lower as the ASPI fell 0.10% to 22,788.79; major movers included Colombo Dockyard (DOCK +24.20%) and Ceylon Hospitals (CHL +25.64%), while C T Holdings, Central Finance and Richard Pieris were among the session's laggards.

Sri Lanka launched the National Climate Finance Strategy 2025–2030 to mobilise climate investments and resilience, identifying 12 financial instruments including green bonds, disaster risk insurance, green revolving fund and carbon markets; first review set for 2027.

InsureMe, Sri Lanka’s largest end-to-end digital insurance aggregator, offers a platform and proprietary solutions (DigiEye, DigiMed, DigiEx) that let customers compare/purchase/manage policies and help insurers modernize operations.

The Government launched the National Climate Finance Strategy 2025–2030 to mobilise finance to manage climate risks and support a net-zero transition, noting Rs.50 billion in annual climate-related losses. The strategy sets out 12 instruments — including disaster-risk insurance, green bonds, PPPs, a green revolving fund and carbon markets — with first review in 2027.

ASPI closed 0.17% lower at 22,812.52 (‑38.43 pts) as profit-taking pushed the market into the red; turnover was Rs.6.2bn and foreigners were net buyers of Rs.25.8m. Capital Goods led activity while HARI, SAMP, MELS and SFCL were key negative contributors and DOCK and RCL saw notable moves.

Parliament adopted Committee Stage amendments to the Personal Data Protection Act (PDPA), and the Ministry said the Third Reading will be passed the same day after minor amendments proposed by the Legal Draftsman and AG's Department.

Nihal Senaratne, Chairman of Senaratne Insurance Brokers Ltd., was honoured by the Chartered Insurance Institute (CII) of London with a lifetime contribution commendation, recognising his 72-year career and contributions to Sri Lanka’s insurance profession.

Softlogic Life launched an AI-powered 2024 Annual Report 'CHANGE MAKER' with personalised AI reporting, gamification, an AI assistant 'Lifey', and external assurance for SLFRS S1/S2, enhancing transparency and sustainability disclosures.

AIA Insurance Lanka Limited's 'Suwa Walan' campaign won the Blue Dragon Award for Best Campaign in Sri Lanka and a Gold for Cause, Environment & Sustainability at the Dragons of Asia Awards 2025. The campaign, run with the Sri Lanka Cancer Society, promotes early breast-cancer detection using symbolic clay pots.

Continental Insurance CEO Gerry Gunadasa was inducted into the Sri Lanka Insurance Institute Hall of Fame at the 22nd International Insurance Congress on 13 October 2025, recognising his six-decade career and contributions to the insurance industry.

Sri Lanka Insurance General Ltd (SLICGL) reported nine months to 30 Sep: Gross written premium Rs 21,853 million (+18% YoY) and profit after tax Rs 2,614 million (+17% YoY). The state-owned insurer held Rs 11.5 billion in government securities, paid Rs 0.7 billion in taxes, paid a Rs 1.5 billion dividend to the Treasury, and received a Fitch A+ (lka) rating.

ASPI rose 0.66% (+149.82 pts) to 22,783.62 as the Colombo bourse extended gains, led by banks and diversified financials with heavy turnover and notable rises in SEYB, HNB, CFIN, COOP, HARI, SIRA, DFCC and WIND.

Colombo Stock Exchange closed higher as the ASPI rose 0.66% to 22,783.62 and the S&P SL20 rose 0.47% to 6,292.27, led by heavy buying in banks and finance; top contributors included Central Finance, Co-operative Insurance, Harischandra Mills, DFCC, WindForce and Seylan Bank.

Sri Lanka's $1 billion court ruling over the 2021 X-Press Pearl disaster could push up marine insurance premiums and drive more vessels into uninsured "shadow fleets." Sri Lanka is not a signatory to liability-capping maritime conventions, exposing ship owners to unlimited claims and raising risk for ships calling at Sri Lankan ports.