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Sri Lanka Insurance
clinched an AA-(sri) National Insurer Financial Strength Rating
from Fitch Ratings London, becoming the first & only insurer
to do so thus further asserting the strength and stability associated
with the Company.
An AA-(sri) National Insurer Financial Strength Rating was assigned
to Sri Lanka Insurance for it’s ability to meet policyholder
obligations. |
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This was the first time Sri Lanka Insurance received a rating from
an international rating agency and in doing so the management has
taken a bold step by presenting the Company to international evaluation.
This not only indicates the management’s long term commitment
to achieve international standards but also challenges each employee
in their respective areas of work. |
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Fitch also
gave the financial giant an A+(sri) National Rating for it’s
Long-Term Debt.
“The rating reflects Sri Lanka Insurance continued leadership
position in Sri Lanka, with a strong brand and a widespread branch
network,” says Mark Nicholson, one of the analysts who rated
Sri Lanka Insurance from Fitch UK.
Fitch considers Sri Lanka Insurance capital to be strong within the
context of the Sri Lanka market namely due to its little exposure
to catastrophe, historically sound reinsurance cover and it’s
conservative investment strategy.
The agency also sees good growth prospects and Sri Lanka Insurance
is expected to reclaim some of it’s lost market share, especially
with the involvement of ING. |