News & market updates

Ex-Pack Corrugated Cartons PLC appointed Hassan Kassim to its board as a Non-Executive, Non-Independent Director. Kassim is Deputy Chairman and Group Director of Aberdeen Holdings and serves as Managing Director of Amana Takaful PLC, bringing cross-sector leadership experience.

Union Bank and the Sri Lanka Export Credit Insurance Corporation (SLECIC) formalised an APARA guarantee allowing Union Bank to offer pre-departure loans to migrant workers backed by credit insurance. The guarantee reduces lending risk for banks and expands financial access for prospective overseas workers.

Janashakthi Limited (JXG.N0000) has inducted the second cohort into its 'Spartans' JXG Management Trainee Programme, an 18-month cross-functional leadership development initiative. The programme rotates trainees across the Group's Insurance, NBFI and Investments businesses and key corporate functions.

AIA Insurance Lanka was the Gold Sponsor of Run For Their Lives (RFTL) 2026, operating a 'Rethink Healthy Zone' and recording engagement of over 5,000 participants. The event supported Apeksha Cancer Hospital and allowed winners to donate prize value to the Kimbulapitiya Safe Water Project.

Rights issue · 3:14 at Rs 19.00 · XD Apr 17, 2026

HNB Life PLC (HASU.N0000) said its Partnership Channel surpassed Rs. 10 billion in gross written premium, rising 58%, and won 'Best Life Bancassurance Provider – Sri Lanka' for the sixth consecutive year. The channel also posted 58% NBP growth and its highest-ever MDRT/COT/TOT achievers, and thanked parent Hatton National Bank (HNB.N0000).

LOLC Life Assurance opened new branches in Mathugama and Beruwala and relocated its Jaffna branch, expanding its physical network to improve customer accessibility and service convenience.

Treasury Bond auction accepted weighted-average yields in line with or below expectations but was undersubscribed, raising Rs.176.62bn of Rs.250bn offered. Stronger fiscal data (Feb revenue +35.5% YoY; primary surplus +66.1%) supported bond-market resilience while USD/LKR traded 321.90–326.00 and T-bill yields eased.

The Central Bank of Sri Lanka launched an online Complaint Management System that lets financial consumers submit, track and escalate complaints against financial service providers 24/7, aiming to standardise and speed up complaint resolution and regulatory oversight.

Janashakthi Insurance (JINS.N0000) recorded Gross Written Premiums of Rs. 2.6bn in Q1 2026, a 42% year-on-year increase. Market capitalisation rose to Rs. 29bn from Rs. 17bn, total assets reached Rs. 41bn and new business grew 25%.

Sri Lanka sold Rs13,000 million of Treasury bonds on tap at weighted average yields of 10.16% (01 Aug 2030) and 10.24% (15 Jun 2034), bringing total bonds sold this week to Rs189.62 billion.

Janashakthi Insurance (JINS.N0000) posted Q1 Gross Written Premiums of LKR 2.6Bn, up 42% YoY, and market capitalization rose to LKR 29Bn (70% increase). Total assets increased to LKR 41Bn, new business was up 25% YoY and claims paid were LKR 985.8Mn (26% YoY).

Treasury auction raised Rs.176.62bn of Rs.250bn offered with yields largely in line or below market (01.08.30 at 10.16%; 15.06.34 at 11.24%; 15.08.36 at 11.40%; 15.08.39 rejected). Secondary bonds rallied, net liquidity surplus was Rs.247.19bn and USD/LKR closed near 322.50/323.00.

Sri Lanka sold Rs176.62bn of 2030, 2034 and 2036 bonds after offering Rs250bn, with average yields of 10.16% (2030), 11.24% (2034) and 11.40% (2036); no bids were accepted for the 2039 bond.

ANC Campus hosted a dialogue with Hayleys' executive director and Janashakthi's CEO on geopolitical risks and private-sector resilience; the University of West England will open its first Sri Lanka branch campus in June. Speakers urged firms to adopt AI, diversify exports and streamline approvals to attract investment.

HNB Life PLC reported Gross Written Premium of Rs.7.01 billion for the quarter ended 31 Mar 2026, up 54% y/y. Net written premium rose 54% to Rs.6.69bn, profit after tax was over Rs.210m, and total assets reached Rs.71.38bn.

HNB General Insurance recorded Gross Written Premiums of Rs. 11 billion in 2025 and is implementing a FY2026 growth plan focused on digital-enabled sales, standardized KPIs and expanded bancassurance integration with HNB to drive distribution-led expansion.

Secondary bond yields held broadly steady and activity was subdued ahead of a Rs.250 billion Treasury bond auction on 12 May 2026 across four maturities. Fiscal data showed a stronger primary and overall budget surplus for Feb 2026, USD/LKR closed near 322.00/322.40 and money-market liquidity was a Rs.262.96bn surplus.

Janashakthi Life ran a blood donation campaign at Excel World, with 65 donors contributing over 29,000ml of blood—enough to potentially save approximately 200 lives.

Ceylinco Life donated a Centralised Medical Gas Pipeline System to Teaching Hospital Kalutara, repairing and integrating an oxygen concentrator at a cost of Rs.19 million. The system supplies multiple wards and two operating theatres, supports ~60 inpatient beds, saves ~75,000 Rs/month and avoids ~50 cylinder changes monthly.

John Keells' JKCG Auto launched a campaign with Bank of Ceylon and Sri Lanka Insurance to boost NEV adoption among government employees from 4 May–31 July 2026, offering financing, preferential leasing, tailored insurance, home charging access and aftersales support.

The Organisation of Professional Associations (OPA) held a high-level seminar on AML/CFT compliance urging professionals to strengthen transparency, governance and alignment with FATF standards; speakers included the Attorney General’s Additional Solicitor General and the CBSL FIU deputy director.

Sanasa Life Insurance said the Insurance Regulatory Commission extended the suspension of its registration for two months, from 6 May 2026 until 5 July 2026.

Sri Lanka Insurance Corporation General Limited (SLICGL) became the first general insurer in Sri Lanka to surpass LKR 30 billion in gross written premium and has strengthened its No.1 position in the general insurance market for 2025.

George Steuart Insurance Brokers appointed T. S. Arulanandan as Managing Director and Principal Officer effective 1 April 2026, with regulatory approval, and added Ramanan David as a Non-Executive Director. The firm says it will expand reinsurance services and pursue Insurtech solutions as part of regional growth plans.

Sri Lanka Insurance Corporation General Ltd. (SLICGL) became the first general insurer in Sri Lanka to surpass Rs. 30 billion in gross written premium and says it has strengthened its No.1 position in the general insurance market for 2025. The company highlighted motor insurance leadership, nationwide outreach programs and its 'A+' Fitch rating.

Sri Lanka's rupee closed weaker at 321.70/85 per USD on Thursday, while government bond yields fell across maturities (e.g. 01.07.2028 at 9.65/70%, 15.10.2029 at 9.90/10.00%).