News & market updates

AIA Insurance said it was Sri Lanka's #1 MDRT company in 2025 with 332 MDRT members across agency (including alternate) and partnership distribution channels. AIA Group was also named the #1 MDRT multinational globally in 2025 for the 11th consecutive year.

Sri Lanka's rupee closed flat at 302.55/60 to the US dollar while several government bond yields were slightly up (e.g. 2029: 9.60/62%, 2030: 9.73/77%); a Rs 43,000 million Treasury bill auction is scheduled on Wednesday.

ICC Sri Lanka opened the ICC Arbitration & Mediation Hearing Centre in Colombo on 10 Sept to serve as a South Asia hub for commercial arbitration and mediation under ICC rules. A conference of 250+ participants covered arbitration, mediation and construction dispute clauses and included meetings with banking, finance, insurance and Port City officials.

Ceylinco Life sent an eight-member team to a five-day 'Lead Forward' agency management training in Kuala Lumpur, covering profitable agency management, building tech-savvy leadership and the MDRT mindset.

Sanasa Life Insurance signed an agreement to be the official life insurance partner of the Colombo International Book Fair, aiming to raise awareness about life insurance and support educational initiatives.

Sri Lanka's rupee closed at 302.50/55 to the US dollar; short‑end government bond yields rose while mid- and long-tenors were steady, with yields quoted around 8.25% (2026) up to about 10.43% (2032).

Colombo Stock Exchange has revised transaction fees for corporate debt securities on its ATS to 0.01% of transaction value (shared equally among CSE, CDS and the SEC), after approval from the Ministry of Finance; brokerage remains negotiable. The change is intended to boost secondary market trading and liquidity in the corporate debt market.

The SEC launched a 12-pillar capital market reform roadmap to modernise the Colombo Stock Exchange, covering demutualisation, corporate debt market development, new products (infrastructure bonds, sukuk, GSS+), a CCP, derivatives exchange and digital transformation. The reforms aim to deepen markets, attract foreign funds and strengthen investor protection over the next decade.

The Insurance Association of Sri Lanka hosted the 16th NAFLIA Conference to promote adviser professionalism and industry growth, with over 700 attendees and awards presented (Union Assurance won a Gold). The event emphasised digital upskilling, innovation and regulatory collaboration to strengthen life insurance.

The Insurance Regulatory Commission of Sri Lanka participated in the Matale 'FinLit Expo' on 12–13 Sept to provide information on insurance, new regulatory initiatives and industry trends, and to gather policyholder feedback and concerns.

The Cabinet approved a revision of the National Policy on Senior Citizens (first introduced in 2006) to respond to demographic shifts, with those aged 60+ projected to reach 24.8% by 2052. The updated framework aims to strengthen protection, care and social inclusion for older Sri Lankans.

ICTA Chairman Hans Wijayasuriya said Sri Lanka aims to grow its digital economy from about 3% to 15% of GDP within a decade and that fintech could unlock US$15 billion, backed by a digital public infrastructure blueprint including digital ID, national data exchange and interoperable payments.

Hatton National Bank hosted the inaugural Sri Lanka FinTech Summit 2025 at BMICH, where Visa launched 'Visa Accept' in Sri Lanka to enable merchants to accept card payments via smartphones without extra hardware. The two-day forum gathered regulators, banks, startups and policymakers to discuss digital payments, blockchain, AI and financial inclusion.

Ceylon Asset Management's Ceylon Dollar Bond Fund delivered a 12.30% USD return YTD as of 14 Sep 2025. The fund, invested in Sri Lanka ISBs, has benefited from post-restructure ISB price gains, rebuilt FX reserves (USD 6.2bn), stabilized rates and a stronger currency, with a possible upgrade to B- by 2027.

AIA Sri Lanka has onboarded over 200 customers into its AIA Exclusive programme, expanding its premium personalised insurance and investment offering. The programme includes dedicated CRMs, annual medical packages, priority telemedicine, hospital privileges and coordinated international in-patient care.

Ceylinco Life’s sales team won 14 awards at the National Forum for Life Insurance Advisors (NAFLIA) 2025, dominating the Large Scale Company category and taking multiple National Awards across sales advisor, supervisor and branch head categories.

Sri Lanka Insurance Corporation General Ltd. (SLICGI) was ranked No. 1 General Insurance Brand in Brand Finance Sri Lanka 100 Most Valuable Brands 2025. The company reported Rs.25 billion in premium income and Rs.3.2 billion after-tax profit in 2024, holds a Fitch A+ rating, and has introduced digital claims and expanded distribution.

India’s government cut GST rates — staples, life and medical insurance and some medicines are now tax-free, GST on small cars, TVs and air conditioners falls from 28% to 18%, and many goods move to 5%. The measures aim to boost household consumption and help consumer goods and automakers but may cost about $5.4bn in revenue, potentially forcing cuts to infrastructure spending.

All three global ratings agencies lifted Sri Lanka's sovereign ratings out of default into the speculative grade (S&P CCC+/C; Fitch CCC+; Moody’s Caa1). They warned of heavy debt (net government debt 101% of GDP in 2025), very high interest costs (~51% of revenue), and the need to sustain IMF-backed reforms; reserves $6.1bn.

Sri Lanka Insurance Corporation General (SLICGI) was ranked No. 1 General Insurance Brand in Brand Finance Sri Lanka 100 Most Valuable Brands 2025. In 2024 it reported Rs.25 billion in premium income, after-tax profit of Rs.3.2 billion, paid Rs.10.5 billion in claims, holds a Fitch A+ rating and has introduced digital claim inspections.

AIA Insurance continues as Platinum Sponsor of the WCIC Prathibhabhisheka Awards 2025 for the third consecutive year, reinforcing its support for women entrepreneurs and commitment to gender equity.

Union Assurance PLC sold its 22% stake (30.8m shares) in Fairfirst Insurance to Fairfax Asia Ltd for Rs. 2.64 billion. Fairfax Asia is a unit of Fairfax Financial, which is also the largest shareholder of John Keells Holdings PLC.

Union Assurance PLC sold its 22% stake in Fairfirst Insurance to Fairfax Asia for Rs2.638 billion, John Keells Holdings said. The divestment comprised 30,800,000 ordinary shares for a total consideration of Rs2,638,079,877.

Weekly T-Bill auction yields were broadly steady (182-day 7.89%, 364-day 8.02%, 91-day 7.57%) while only 72% of the Rs.75bn offer was raised (Rs.54bn); secondary bond market was subdued and the rupee appreciated to about Rs.302/USD.

Vallibel One (parent of the Delmege Group) marks Delmege’s 175th anniversary, highlighting the Group’s diversified operations across consumer goods, interiors, healthcare, shipping, insurance and travel.

A pre-budget discussion on 16 at the Presidential Secretariat brought banking, finance and insurance stakeholders together to present proposals for the upcoming budget. Participants emphasized digitalization, expanded SME programmes and new insurance schemes, which ministers said will be considered.

SANASA Life Insurance launched ‘Heenalanthaya,’ a year-long consumer promotion running Aug 2025–Jul 2026 that offers monthly and quarterly prizes and grand prizes including international holidays (20 winners to India/Malaysia/Singapore; 8 winners to Europe) and other experiential rewards.

The government held a pre-Budget discussion on the banking, finance and insurance sector at the Presidential Secretariat, focusing on banks supporting the government's growth program, digitalization, SME financing and new insurance schemes to be considered in the Budget.