News & market updates

LOLC General Insurance PLC (LGIL.N0000) won five awards at the Emerging Asia Insurance Awards 2024, including "Best General Insurance Company" and honors for customer orientation and risk management. LOLC Life Assurance was first runner-up for Best Life Insurance and runner-up for Best Risk Management.

HNB Assurance Group reported 21% GWP growth to Rs. 22.7 billion in 2024 and consolidated PAT above Rs. 1.8 billion (+7%). HNB Life (HASU) secured an 'A' Fitch rating while the Group's funds under management rose 24% to Rs. 55 billion.

AIA Insurance will give customers who buy an eligible policy in February 2025 (annualized premium ≥ Rs.150,000) a complimentary one-year Accident Death Cover for a nominated loved one, with coverage from March 2025–March 2026 and benefits up to Rs.5 million (based on premium).

Sri Lanka Insurance Life opened Agency Business Development Centers in Wadduwa and Ahungalla on 13 February 2025 to expand its Southern I presence and improve reach and service delivery for life protection customers.

Secondary Treasury bond yields consolidated while strong buying in 2030 tenors pushed yields lower; total secondary market Treasury/Bill volume was Rs. 41.63bn. Overnight call 7.98%, repo 7.99%, net liquidity surplus Rs. 161.84bn; USD/LKR spot closed at Rs. 296.25/296.45.

AIA Insurance was the Platinum Sponsor of the WCIC Prathibhabhisheka Women Entrepreneur Awards for the third consecutive year; AIA reports 51% female representation in its sales force and that 43% of those women rank among the top 100 Wealth Planners, generating over half the business's revenue.

Dividend · Rs 3.90 · XD Apr 1, 2025

First And Final dividend of LKR 3.9/share; XD 2025-04-01; record 2025-04-01; payable 2025-04-23; FY 2024

Sri Lanka sold Rs115 billion of Treasury bills with yields falling across maturities: 3-month 7.61% (-8bp), 6-month 7.90% (-4bp) and 12-month 8.36% (-6bp). All offered amounts (Rs25bn, Rs60bn, Rs30bn) were fully sold and bills are available on tap at the weighted average yield.

AIA Insurance was named Best Life Insurance Company in Sri Lanka for the fifth consecutive year by CFI and GBFR. The company highlighted its digital transformation (POS, RPA, cloud) and wellness partnerships as key contributors to customer service and community initiatives.

AIA Insurance was named Best Life Insurance Company in Sri Lanka for the fifth consecutive year by Capital Finance International and Global Banking and Finance Review. The company highlighted its digital transformation (POS, RPA, cloud) and wellness partnerships as drivers of customer-focused growth.

Sri Lanka Insurance Life opened Agency Business Development Centres in Wadduwa and Ahungalla on 13 February 2025 to expand its Southern-region presence and improve customer service reach.

Colombo Stock Exchange rose after the Budget, with the ASPI up 1.3% and net foreign inflows of Rs. 777.4 million. Banking, insurance and diversified financials led the session, with Ceylinco, Melstacorp, NDB and Sampath among the top contributors.

Budget 2025 raises Capital Gains Tax to 15% for individuals/partnerships and to 30% for other entities. HNB Stockbrokers noted the current CGT definition does not include gains from trading listed equities.

CRIB Director Pushpike Jayasundara said CRIB is boosting credit inclusivity by developing an MSME Scorecard, integrating non-traditional data into credit scoring, and preparing to launch an electronic Secured Transactions Registry under Act No.17 of 2024.

ASPI closed up 1.30% (219.36 pts) at 17,156.05, nearing its all-time high amid the 2025 budget presentation. Net foreign inflow of LKR 777m (highest in 2025) drove buying in Ceylinco Holdings, Browns Investments and activity in NDB, Sampath, Hayleys, Sierra Cables and Jetwing Symphony.

Union Assurance launched its Suwamaga Mobile Screening Unit on 27 Nov 2024 to provide free diabetes screenings, reaching over 7,600 people via the mobile unit and over 16,000 overall. Of those recommended for HbA1c tests, 30% were pre-diabetic and 20% diabetic, with urgent cases referred to hospitals.

Courts have ruled that foreign firms not registered locally cannot act as insurance brokers or bid for Sri Lankan tenders, with the Civil Appellate High Court upholding injunctions against J B Boda. Strategic Insurance Brokers (SIB) has urged President Dissanayake to revoke NITF’s award to Tysers and halt contracts pending review.

Sri Lanka's rupee closed at 295.40/70 per US dollar, firmer than Thursday's 295.90/296.20, while government bond yields eased. Several maturities fell or were flat (e.g. 15.12.2026 at 8.95/9.00%, 15.10.2027 at 9.60/75%, 01.07.2028 at 10.25/30%).

Sri Lanka sold Rs67.5 billion of government bonds maturing in 2028 and 2030. Rs37.5bn of 01 Sep 2028 bonds were sold at an average yield of 10.31% and Rs30bn of 15 Oct 2030 bonds at 11.23%.

ASPI fell 1.3% (221 pts) to 16,345 as the Colombo market stayed bearish for a second day with Rs.2.4bn turnover; the Banking sector led losses and turnover, with HNB, SAMP, DFCC, MELS and COMB the main negatives and CTC, RICH and COOP top positives.

Softlogic Life reported Gross Written Premiums of Rs.31.6 billion in 2024, up 20% y/y and tenfold since 2014. It posted PAT of Rs.4.5 billion (59% y/y), PBT Rs.6.3 billion (98% y/y), ROE 38.2% and a CAR of 298%.

Softlogic Life reported GWP of Rs. 31.6 billion in 2024 (10x since 2014), with PAT of Rs. 4.5 billion, ROE 38.2% and a Capital Adequacy Ratio of 298%.

Sri Lanka sold Rs157.5bn of Treasury bills with yields falling across maturities: 3-month down 10bp to 7.69% (Rs44.1bn sold), 6-month down 6bp to 7.94% (Rs83.3bn sold) and 12-month down 1bp to 8.42% (Rs30bn sold against Rs75bn offered).

Sri Lanka has reconstituted a high-level AML/CFT task force chaired by Justice Buwaneka Aluwihare and approved an action plan as it prepares for its third Mutual Evaluation by the Asia Pacific Group on Money Laundering. Failure to meet FATF standards could risk renewed international scrutiny or grey-listing that may deter foreign transactions and investment.

LOLC General Insurance signed an MoU with Hatton National Bank to expand bancassurance operations and offer HNB customers integrated insurance solutions.

The Ceylon Chamber of Commerce launched its 10th Annual Outlook Report for 2025, 'Consolidating Stability; Fostering Sustainable Growth', with Central Bank Governor Dr. P. Nandalal Weerasinghe delivering the keynote on policy directions. The report reviews macro fundamentals and provides sector outlooks for ten key industries.

A high-level AML/CFT Task Force, chaired by Hon. Justice Buwaneka Aluwihare and including senior ministers and the Senior Deputy Governor of the Central Bank, was appointed to coordinate Sri Lanka’s preparations for the Asia Pacific Group’s third Mutual Evaluation; the Task Force met on 29 January 2025.

Ceylon Chamber of Commerce launched its Outlook Report 2025 assessing Sri Lanka's macroeconomic fundamentals and providing a roadmap for sustainable recovery. The report reviews ten sectors — including agriculture, tourism, banking and insurance, IT/BPO, energy, logistics, retail and apparel — and discusses fiscal, monetary and structural reforms.

The Ceylon Chamber of Commerce launched its 10th Annual Outlook Report 2025, themed "Consolidating Stability; Fostering Sustainable Growth", with a keynote by Central Bank Governor Nandalal Weerasinghe. The report reviews macro fundamentals and provides sector outlooks for ten sectors including banking, tourism, IT/BPO, energy and logistics.