These are changing times for Sri Lanka’s insurance sector. Major regulatory moves over the last two years have seen much strengthening and consolidation, with these processes set to continue in the year ahead. Profitability remains high, particularly in the life insurance segment, while in the non-life segment a fiercely competitive...
How has the sector demonstrated its commitment to increase insurance penetration levels?
Recent times have seen the government and private sector take significant steps to strengthen Sri Lanka’s insurance industry. These have involved regulatory measures to make it both deeper and narrower, while outreach campaigns to demonstrate to ordinary citizens the benefits of being insured have been launched. On this latter point, the...
The administration of President Maithripala Sirisena has planned a series of reforms that it hopes will better equip Sri Lankans for the more competitive economic activities of the future. It aims not only to increase the number of years spent in school, but also to raise the standards of teaching, and emphasise a curriculum of critical thinking and problem solving. Sri Lanka is also keen to...
Across the island, a wide-ranging infrastructure development campaign is unrolling to expand Sri Lanka’s production capacity, efficiency and productivity, with the added aim of reducing regional disparity. Building and infrastructure projects are expected to strengthen the country’s economy, with the ultimate aim of achieving high-income, sustainable economic growth for all Sri Lankans....
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