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| Thursday, 20 January 2005 |
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Fitch re-affirms Sri Lanka Insurance National Rating Sri Lanka Insurance for the second consecutive year clinched an AA-(sri) National Insurer Financial Strength Rating and an A+(sri) National Long-Term Rating further asserting the strength and stability associated with the company. Sri Lanka Insurance is also the first insurance company to take a bold step in presenting itself to international evaluation indicating the management's long term commitment to meet policyholder obligations. The international rating agency affirmed Sri Lanka Insurance National Ratings to be stable in spite of the tsunami disaster. The management decision to transform the company from a former state-owned monopolist to an efficient operator in an increasingly competitive Sri Lanka Insurance market is now showing early signs of success. Profit focused underwriting, sound reinsurance backing, increased automation, introduction of new life and non life policies have all contributed to the profitability and capitalisation on the company, he said. |
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