SANASA Life Insurance receives ‘[SL] BBB (Stable)’ rating | Daily News

SANASA Life Insurance receives ‘[SL] BBB (Stable)’ rating

SANASA Life Insurance Company, was recently accredited an Insurance Financial Strength Rating of “[SL] BBB (Stable)” by ICRA Lanka Ltd recognising its financial stability in the face of the COVID-19 pandemic in the country. ICRA Lanka is a Credit Rating Agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and is a fully-owned subsidiary of ICRA Ltd., India.

The attack of the COVID-19 pandemic brought day-to-day activities to a halt and sent Sri Lanka’s economy into a downward trajectory since March 2020. However, despite numerous challenges posed by the pandemic situation, SANASA Life Insurance Company was able to perform reasonably well and its financial strength and stability is reaffirmed by the assigning of this “[SL] BBB (Stable)” rating by ICRA Lanka.

SANASA Life Chief Executive Officer Indika Kiriwandeniya said, “It has certainly been one of the most challenging years for SANASA Life Insurance due to the negative impact of the pandemic. Given such a backdrop, we are happy to receive this rating by ICRA Lanka in recognition of our financial stability as one of Sri Lanka’s leading insurance companies.”

SANASA Life Insurance has been a giant in the field of insurance in Sri Lanka for nearly 30 years.