Country: Sri Lanka Page 2 / 3
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- August 18 2021
Sri Lanka P&C profits doubled in 2020
Allianz was one of the biggest gainers on the island as Covid-19 subdued claims.
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- August 13 2021
Sri Lanka’s state reinsurer saw premiums decline in 2020
NITF discontinued accepting a 30% facultative share from local insurers due to the non-availability of retrocession cover.
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- July 14 2021
X-Press Pearl’s owners pay initial US$3.6m claim
Sri Lanka's government is looking for US$40m to compensate for environmental damage.
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- June 21 2021
Asia marine market braces for X-Press Pearl ‘total loss’
The focus is now on wreck removal and containing the environmental damage.
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- June 14 2021
Sri Lanka’s non-life market to veer away from motor
Fitch analyst tells IAN a vehicle import ban has created a shift toward other business lines.
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- May 27 2021
X-Press Pearl fire to see ‘significant’ cargo, salvage claims
Insurers face claims in the tens of millions of US dollars.
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- May 10 2021
Asian Re’s loss ratio deteriorates as cat losses bite: AM Best
Underwriting results remain volatile with Asian Re's five-year average COR exceeding 125%.
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- November 2 2020
Milliman targets Sri Lanka with Spark Actuarial acquisition
The new team will boost the global firm's APAC capabilities.
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- September 9 2020
Insurtech BIMA lands US$30m for Asia push
Investors include Allianz and China's CEFIF.
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- September 7 2020
Market readies for P&I loss as oil tanker in Sri Lanka catches fire
The MT New Diamond is a large crude ship which flies the Panama flag.
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- August 6 2020
Allianz reveals mixed first half Asia results
While L&H profits fell 9%, P&C climbed 21% bolstered by Malaysia, Sri Lanka and Thailand.
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- June 11 2020
Cyclone Amphan losses shoot up to US$15bn: report
Most of the damage is expected to be uninsured.
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- July 5 2019
Terror risks evolve
Despite declines at the global level, threats in Asia Pacific are significant and continue to develop.
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- June 19 2019
AIA’s Sri Lanka CEO agrees Hong Kong group role
Promoted Pankaj Banerjee to be replaced by Nikhil Advani in Sri Lanka.
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- May 17 2019
Sri Lanka prepares tourism compensation fund
The terrorist-struck country is keen to set up an insurance fund to attract tourists.
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- April 29 2019
Colombo’s Shangri-La given US$1m after terror attack
Advanced insurance money will help start the rebuilding work after the shocking terrorism attack.
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- November 2 2018
Making microinsurance profitable
New technology and approaches are making it a potentially sustainable and profitable business line.
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- February 5 2018
Allianz to acquire Sri Lanka’s Janashakthi Insurance
The German insurer will have a market share of approximately 20% after the US$107m acquisition.
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- June 2 2017
Sri Lanka taps Renaissance Re for insurance trust fund
The fund provides disaster cover for disasters including droughts, floods and cyclones.
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- February 9 2017
AIA seals bancassurance deal in Sri Lanka
The exclusive long-term strategic partnership with DFCC Bank covers a range of savings and protection products.
