Steady Beat

Sri Lanka Insurance Corp. got its AA- (sri) rating re-affirmed by Fitch Ratings International, with a rating outlook of stable. Sri Lanka Insurance Corp. got its AA- (sri) rating re-affirmed by Fitch Ratings International, with a rating outlook of stable. Sri Lanka's largest insurance company also offers policies in the Maldives and the coastal belts of both island nations got a sever beating during the recent tsunami.

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The tsunami-related losses are likely to lead to SLIC seeking reinsurance recoveries in excess of Rs. 3 bn.

The net impact of insurance claims on SLIC is expected to be 'within the tolerance of the current rating level'.

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Life and non-life insurance penetration in the south a