News & market updates

Softlogic Life Insurance PLC completed the 100% acquisition of Allianz Life Insurance Lanka's life business, which will become a fully owned subsidiary to be renamed SL Insurance Lanka Ltd. Softlogic Life reported GWPs of Rs.31.574 billion (17.2% market share) as at Dec 2024 and 25% GWP growth in Q1 2025.

The Association of Primary Dealers hosted a panel on 8 July 2025 reviewing Public Debt Management Act No. 33 of 2024, which creates a Public Debt Management Office, mandates a five-year rolling debt strategy, auctions and public disclosure to improve transparency and risk governance.

Softlogic Life will operate Allianz Life's life business as SL Insurance Lanka Ltd after completing the acquisition. Softlogic Life reported Rs 31.574 billion gross written premiums in the year to Dec 2025 (17.2% market share) and 25% premium growth in Q1.

Softlogic Life Insurance PLC (AAIC.N0000) has completed the 100% acquisition of Allianz Life Insurance Lanka, which will become a fully owned subsidiary and be renamed SL Insurance Lanka Ltd. Softlogic Life reported GWP of Rs. 31,574 billion (17.2% market share) as at Dec 2024 and 25% growth in Q1 2025.

Sri Lanka sold Rs142.2 billion of government bonds from a Rs200 billion offer, with the 2029 issue fully sold at a 9.46% average yield; 2033 sold Rs34.93bn at 10.67% and 2034 sold Rs32.3bn at 10.81%. Settlement is July 15 and the 2029 bond is available on tap.

Sri Lanka's debt office is offering Rs200 billion of bonds (Rs75bn 10.35% 2029; Rs75bn 9.00% 2033; Rs50bn 10.25% 2034) as bond yields remained broadly stable; the rupee opened flat at 300.45/65 to the US dollar.

The Insurance Regulatory Commission of Sri Lanka launched a nationwide insurance awareness campaign in Matara on 26 June 2025, with participation from all 29 licensed insurance companies and key industry associations. Activities included roadshows, school programmes and a public workshop targeting underserved rural and semi-urban communities, with further district events planned.

IRCSL and IASL led a full-day, district-wide public engagement in Matara, including a 26 June workshop that drew over 1,500 participants. The campaign featured regional activations and a road-safety outreach with partners and will be scaled islandwide to boost insurance literacy.

Sri Lanka Treasury yields rose across maturities at Tuesday's auction: 3-month up 5 bps to 7.60%, 6-month up 6 bps to 7.84% and 12-month up 5 bps to 7.99%; total offered Rs 72.5bn, sold Rs 66.51bn, settlement July 11.

Ceylinco Life ran six free 'Waidya Hamuwa' health camps in H1 2025, reaching more than 1,200 people. Camps provided NCD-focused screenings (blood sugar, BP, ECG, cholesterol, CKD urine tests, BMI, vision), introduced haemoglobin testing, identified multiple undiagnosed conditions and distributed vegetable seed packets.

H One won the regional Microsoft Agentic AI Hackathon with two AI solutions—InsurGENT for automated insurance-claim verification and Nexis Engine for natural-language database queries—both to be published on the Microsoft Marketplace.

The Insurance Regulatory Commission of Sri Lanka (IRCSL) launched a nationwide insurance awareness campaign on 26 June 2025 in Matara involving all 29 licensed insurance companies. The launch included a roadshow with 500+ company representatives, workshops and school programs with ~1,500 attendees each and help desks to boost insurance literacy and inclusion.

Union Assurance hosted 'Echoes of Excellence 2024' to honour top performers from Union Bank's bancassurance channel, rewarding high achievers with an exclusive full-board stay. Company leaders said the event reaffirms the partnership since 2018 and a commitment to strengthen collaboration.

Orient Insurance relocated to a new headquarters at JFI Towers, Colombo, bringing all departments under one roof to improve operational efficiency, collaboration and innovation.

HNB Assurance PLC appointed Lasitha Wimalaratne as Executive Director and HNB General Insurance Ltd appointed Sithumina Jayasundara as Executive Director; both currently serve as CEOs of their respective companies.

Sanasa General Insurance and Sanasa Life Insurance are the official insurance partners for Green Walk 2025, the annual Isipathana College event set for 12 July. The sponsorship highlights the firms' community and education engagement and their outreach across the country.

Executives from Commercial Bank (COMB.N0000), DFCC Bank (DFCC.N0000) and NDB (NDB.N0000) attended AIA's Bancassurance Summit 2025 in Beijing to discuss bancassurance, growth, innovation and digital transformation. Commercial Bank MD & CEO Sanath Manatunge participated on the CEO panel on how banks drive growth and innovation.

Amana Takaful (Amana Takaful PLC) held its Annual Awards 2024, honoring top-performing staff and naming Enterprise Team Assistant Sales Manager Charith Korala as Champion of Champions; winners received trophies, cash prizes and foreign tours.

Executives from Commercial Bank, DFCC Bank and NDB Bank attended AIA's Bancassurance Summit 2025 in Beijing to discuss bancassurance, digital transformation and regional partnerships.

Sri Lanka's revenue agencies collected about 47% of the 2025 target by June 26, running ahead of schedule, the Labour Minister said. Officials credited technology/process improvements and reopened car imports for boosting VAT, excise and other receipts.

Sri Lanka Insurance Life declared a Rs. 12.5 billion bonus to policyholders for 2024, the largest annual life-insurance bonus in Sri Lanka. The company reported a Profit Before Tax of Rs. 30.7 billion and a 25% rise in gross written premiums to Rs. 26.3 billion.

Fairfirst Insurance won three awards at the Global Banking & Finance Awards 2025: General Insurance Brand of the Year – Sri Lanka, Best Travel Insurance Company – Sri Lanka, and Best Marine Insurance Company – Sri Lanka.

Sri Lanka signed a bilateral debt-rescheduling agreement with the Hungarian Export Credit Insurance Plc to reschedule about EUR 30 million of external debt. The deal is part of the government's External Debt Restructuring Process aimed at restoring debt sustainability.

Sri Lanka Insurance Life declared a Rs. 12.5 billion bonus to policyholders for 2024, the largest annual life-insurance bonus in Sri Lanka; the company reported Profit Before Tax of Rs. 30.7 billion, assets of Rs. 238.6 billion and gross written premiums of Rs. 26.3 billion (25% YoY).

Union Assurance held its Agency Distribution Annual Awards 2024 at Cinnamon Life, recognising over 450 advisers with cash prizes, luxury domestic and international trips and vehicles; David Baskaran Thinesh was named 'Ultimate Champion'.

HNB General Insurance launched HNBGI NEXA, a web-based customer-support chatbot developed with AccelTree to provide 24/7 first-level general-insurance support and escalate complex queries to human agents.

Chandana L. Aluthgama has resigned as Group Chief Executive Officer of Sri Lanka Insurance, effective 1 August 2025. He served as CEO since 2018 and led the company through the 1 February 2024 segregation into Sri Lanka Insurance Life Ltd and Sri Lanka Insurance General Ltd.

HNB General Insurance and HNB Assurance (HNB group) won the 2025 MCA G Division Cricket Championship, beating Access Group after posting 229/6 with Dasun Abeywardana scoring 118; the victory is highlighted as reinforcing HNB’s employee engagement and corporate culture.