Sri Lanka Insurance concludes the year 2023 with remarkable success, achieving an impressive profit before taxation of Rs. 10.6 billion, reflecting a robust improvement in combined Gross Written Premium (GWP) of Rs. 44.2 billion, marking a growth of 7.2%. As of December 31, 2023, Sri Lanka Insurance Life recorded a premium volume of Rs. 21 billion, while Sri Lanka Insurance General recorded a premium value of Rs. 23.1 billion.

Reaffirming its commitment to customers throughout 2023, Sri Lanka Insurance disbursed an impressive Rs. 27.6 billion to policyholders in the form of maturity settlements and combined claim payments in addition to the 10.4 billion bonus declaration, underscoring the company’s steadfast commitment to honoring its obligations and ensuring the trustworthiness of its investment services. Furthermore, solidifying its strong financial position, SLIC has been able to continuously increase its Asset base and Life Fund over the years.

This year the company was able to increase its asset base to enormous Rs. 313.3 billion and the Life fund to Rs. 180.8 billion. These achievements came amidst numerous changes that took place within the organization and during challenging economic and social conditions that prevailed in the country. Securing its number one position for the 5th consecutive year, at the end of 2023 Sri Lanka Insurance Motor Plus remains the market leader recording a claim payout of 10 billion and a total volume of Rs. 13.5 billion premium value strengthening its market position with a market share of 21%. Sri Lanka Insurance Motor Plus achieved a growth of 6%, which is over 10 times faster than the industry growth average of 0.5% for the motor segment.

Affirming the prudent investment management strategies of the company and further emphasis on SLIC’s commitment towards its policyholders and their well-being, Sri Lanka Insurance outshone its own record to declare the largest Life Insurance bonus in the industry amounting to 10.4 billion for the year 2022 for its policyholders. In the last two decades SLIC has triumphed in declaring the highest Life Insurance bonuses year on year in the industry cumulating to a massive Rs. 92.8 billion making the SLIC bonus declaration unmatchable.

The Group Chief Executive Officer of Sri Lanka Insurance, Chandana L. Aluthgama, proudly affirmed, “Our remarkable financial and non-financial accomplishments reflect the unwavering dedication and efforts exhibited by our exceptional team at Sri Lanka Insurance, even in the face of numerous challenges. Despite internal changes and the economic and social impact felt by the company, our strategic focus and steadfast commitment have positioned us as one of the most profitable entities yet again. The hard work and determination of our people have been instrumental in navigating these challenges, and with a reinforced foundation and a clear vision for the future, we are now prepared to embark on a new journey as Sri Lanka Insurance Life and Sri Lanka Insurance General.”

Chairman of Sri Lanka Insurance, President Counsel Ronald C Perera stated, “As we reflect on 2023, Sri Lanka Insurance has demonstrated remarkable resilience and strength, as a robust and profitable business entity in the country despite the many challenges over recent years. In the midst of ongoing divestiture talks, it’s vital to emphasise that Sri Lanka Insurance, comprising both Life and General businesses, holds immense value for potential investors. The outstanding performance of both entities positions them as pivotal players in the market, offering significant benefits to interested parties.

Acquiring such a robust asset would not only bolster the buyer’s organization but also enhance its portfolio, fostering mutual growth and long-term prosperity. As we move forward, Sri Lanka Insurance remains steadfast in its commitment to providing stability and strength to both Sri Lanka Insurance Life and Sri Lanka Insurance General. Our foundation is solid, and our vision for the future is resolute. With confidence, we anticipate that the enduring strength and stability of our company will serve as the cornerstone for the continued success of both entities in the years ahead.”(SLI)

eChannelling, Sri Lanka’s premier channelling platform and a subsidiary of SLT-MOBITEL, has partnered with the International Organization for Migration (IOM) Sri Lanka to provide free online appointment booking for health assessments required for migration to the UK, Australia, Canada, and New Zealand.

IOM delivers comprehensive health assessment programs that are beneficial, accessible, and equitable for migrants and mobile populations. Through the new partnership, migrants can now comfortably book their IOM health assessment appointments online via eChannelling’s website https://www.echannelling.com/ or the eChannelling mobile app.

The collaboration between eChannelling and IOM is expected to benefit migrants by improving their ability to book appointments free of charge and without the involvement of intermediaries. This streamlined process ensures that expatriates have access to health assessment services before their departure.

IOM’s Migration Health Division has been conducting these specialized health assessments in Sri Lanka since 2014. Experienced staff provide high-quality services with professionalism and efficiency. With eChannelling, applicants will be directed to the free online appointment booking system which allows them to schedule appointments conveniently.

Simeonette DE ASIS, Chief Migration Health Officer, Migration Health Division, IOM, welcomed the partnership, stating, “IOM is committed to facilitating safe, orderly, and humane migration. By joining forces with eChannelling, we can ensure migrants have a smooth experience in booking the required health checks for their overseas journeys.”For more information and to access free online booking for pre-departure health assessments, individuals are encouraged to visit the eChannelling website.

Colombo: Travelers arriving at the Makumbura Multimodal Centre (MMC) can now get a reliable, convenient and affordable Uber ride from a dedicated Uber pick-up point. Situated strategically within Sri Lanka’s expressway network, the MMC serves as a crucial intersection for travelers between Colombo and Southern coastal destinations.

As local passengers and international tourists arrive at the Centre, they can just fire up the familiar Uber app and get a comfortable ride without haggling for prices or searching for a ride on the road. The Uber pick-up point was launched recently in the presence of Eng. Ranjith Rubasinghe, Secretary, Ministry of Transport and Highways, Government of Sri Lanka and Uber Sri Lanka’s Country Manager, Kaushalya Gunaratne.

Lauding the launch of the Uber pick-up point, Eng. Ranjith Rubasinghe, Secretary, Ministry of Transport and Highways, Government of Sri Lanka, said, “As Sri Lanka’s first such multimodal center, the Makumbura Multimodal Centre opens up new possibilities and adds a new dimension to the country’s public transport system. Uber enjoys the familiarity and trust of several Sri Lankans and international tourists who are regular users of the app in other countries. Having the comfort to book a ride through the phone at a busy junction and get details of the trip, the driver, and the car, within a few minutes will provide value to passengers.”

Kaushalya Gunaratne, Country Manager, Uber Sri Lanka, said, “As the most loved global mobility app – the launch of this dedicated transit point is an extension of our commitment to serve the commuters in Sri Lanka – be it locals or tourists. We bring the same convenience and safety support to the Makumbura Multimodal Centre that people have come to associate us with world over. These last-mile connectivity solutions help travelers plan their transportation better and easy app access makes rides accessible to a wider population. We will continue to bring the best of Uber to Sri Lanka and do everything to elevate Sri Lanka as a top global tourist destination.”