News & market updates

The weekly T-bill auction was fully subscribed, raising Rs.145 billion in Phase I with mixed weighted average yields: 91-day 7.65% (↑3bp), 182-day 8.30% (↓1bp) and 364-day 7.97% (↑1bp). Secondary bond yields initially fell then edged up after results; net liquidity surplus was Rs.145.47bn and USD/LKR closed near 299.60/299.65.

Amana Life Insurance's Gold Investment Fund returned 19% over the 12 months to 31 March. Amana Life is the only Sri Lankan life insurer offering a dedicated Gold Investment Fund across its life insurance products.

Ceylinco Life appointed Samitha Hemachandra as an Executive Director and Chief Operating Officer effective 1 April. Hemachandra is also a non-executive director of Citizens Development Business Finance PLC (CDB).

Sri Lanka's Public Debt Department raised Rs. 155 billion at its April 28 Treasury bond auction, with WAYRs of 10.30% (2029), 10.96% (2031) and 11.22% (2035). All offered amounts were fully accepted amid strong bids; an issuance window for up to 10% additional subscriptions is open until Apr 30, settlement May 2.

Sri Lanka's rupee opened firmer at 299.55/60 per USD and government bond yields fell across maturities as a Rs.145,000 million Treasury bill auction was ongoing. Several government bonds (2028–2031 maturities) were quoted lower, reflecting easing yields.

Orient Finance PLC launched the Orient Tuk Leasing plan offering a one-month first-rental waiver, low monthly installments, quick approvals and a Rs. 500,000 life insurance benefit for drivers; an Ijarah (Sharia-compliant) leasing option is also available.

The Insurance Regulatory Commission of Sri Lanka held an inaugural program on 12 March to strengthen collaboration between academia and the insurance industry, with 15 senior academics from eight universities participating. Planned follow-ups include quizzes, workshops, guest lectures, research support and internship opportunities.

Sri Lanka sold Rs155bn of government bonds: Rs60bn 15-Jun-2029 at 10.30%, Rs55bn 15-Mar-2031 at 10.96% and Rs40bn 15-Mar-2035 at 11.22%; settlement May 2, with the 2029 and 2031 issues available on tap.

Janashakthi Limited (JXG.N0000) is reviving the Iconic business awards as the 'CIMA - JXG Pinnacle Awards 2025', to be held on 11 June 2025 at Cinnamon Life. The event, originally initiated by Janashakthi Insurance (JINS.N0000), will feature eight award categories recognising corporate leadership and innovation.

Colombo Stock Exchange will apply new 'GSS+' rules to ESG, green, blue, social and sustainability-linked bonds from March 2025, replacing the 'Sustainability Bonds' term. The rules align issuance and verification with ICMA guidelines, add methods like Second Party Opinion and Certification, and were developed with ADB and the SEC.

SLIC Life was assigned an 'A+(lka)' National Insurer Financial Strength (IFS) rating by Fitch with a Stable Outlook. Fitch cited a favourable company profile; SLIC Life reported an RBC of 646% mid-2024 and 18% growth in gross written premiums in early 2024.

Sri Lanka Insurance Corporation General Limited posted a profit before tax of Rs. 4 billion and gross written premium of Rs. 25 billion for 2024, a 9.45% GWP increase and a 19.4% market share. The company paid Rs. 10.5 billion in claims; motor premiums were Rs. 14 billion (20% share) and non-motor premiums Rs. 11 billion (15% growth).

IRCSL implemented an Optional Compensation Scheme (effective for accidents on/after 1 Mar 2024) requiring the insurer of the vehicle to pay up to Rs.500,000 to third-party pedestrians or cyclists who die or suffer permanent disability. Drivers, passengers and intentional colliders are excluded; claims must follow Circular No.03/2024 and be filed within the prescribed time limits.

Colombo Stock Exchange signed a contract with Microvista to implement XBRL for listed companies, starting with interim financial statements in early 2026 and expanding to annual reports in 2027 and sustainability reports in 2028. The CSE, with SEC and CA Sri Lanka, says XBRL will streamline reporting, improve accuracy and comparability and lower compliance costs.

Softlogic Life Insurance PLC (AAIC.N0000) reported Gross Written Premiums of Rs.31.6 billion for 2024—10x since 2014—with 20% YoY growth and a 17.2% market share, and honored 446 top sales achievers at its April 4, 2025 sales convention. The company said it protected over 1.3 million lives, settled Rs.14.8 billion in claims in 2024, and recorded 243 MDRT qualifiers.

Colombo market stayed bearish as the ASPI fell 43 points (0.28%) and the S&P SL20 dipped 0.68% on turnover of Rs.991.4m, with foreign net selling of Rs.63.4m. Banking names (COMB, HNB, NDB) and JKH weighed on the index while pockets of interest were seen in CINS, ASIR and COCR and retail interest in PAP, LVEF and LOFC.

Colombo bourse opened marginally negative as the ASPI fell 17 points (0.11%) to 15,600 on low turnover of Rs.1.16bn. Banking stocks led turnover (24% share) while HAYL, LION, JKH, DIPD and TJL were top negative contributors and Sampath and Lanka IOC drew buying interest.

Sri Lanka export stocks fell after China warned it would take countermeasures, with the ASPI down 0.11% to 15,599.61. Export-linked names including Teejay Lanka, Dipped Products, Hayleys Fabric, John Keells and Lion Brewery led declines amid weak market sentiment.

Allianz Lanka launched 'Allianz Avurudu Nagam', refunding train tickets for commuters between Colombo Fort and Peradeniya/Kandy and distributing traditional oil cakes and seasonal giveaways to support travellers during the Avurudu season.

Sri Lanka Insurance Corporation General Ltd reported FY24 PBT of Rs.4.0 billion and GWP of Rs.25.0 billion with PAT of Rs.3.3 billion and a 19.4% market share; the group paid Rs.10.5 billion in claims. The motor segment earned Rs.14 billion (20% market share) and non-motor Rs.11 billion (15% growth).

Sri Lanka Manufacturing PMI rose to 63.9 in March 2025 (a four-year high) while Services PMI reached 69.8, reflecting strong seasonal demand and broad expansions in new orders, production and employment. Growth was led by food & beverage and textiles, though exporters cited rising global trade uncertainties and concerns over US import tariffs.

Sri Lanka's services PMI rose to 69.8 in March from 56.5 in February, driven by stronger financial services activity and increased lending. Wholesale and retail, accommodation and food & beverage, insurance and employment also improved, with new business showing notable gains.

The Central Bank's Systemic Risk Survey found respondents' confidence in the stability of Sri Lanka's financial system improved compared with the previous survey; domestic macroeconomic risks remained the top concern and perceived probability of a high-impact negative event declined. The survey was conducted 12 Dec 2024–10 Jan 2025.

Sri Lanka sold Rs 10,000 million of Treasury bonds on tap at auction-set average yields: 15-Dec-2029 at 10.64% and 15-Sep-2034 at 11.21%; settlement is April 16.

Central Bank of Sri Lanka released findings of the Systemic Risk Survey for H1 2025, reporting market participants’ views on risks to and confidence in the stability of the Sri Lankan financial system. The survey sampled licensed banks, finance companies, a specialised leasing company, insurers, unit-trust managers, brokers, microfinance firms and rating agencies and is available on the CBSL website.

AIA Insurance hosted AIA AquaFest 2025 at Galle Face, Colombo — a water-sports festival featuring sailing, jet-skiing, dragon boats and kayaking to promote tourism and its 'Rethink Healthy' campaign. The event included a beach clean-up, a turtle cove nesting ground opening and bancassurance partner activities.