Life and general insurance business of Sri Lanka Insurance Corporation Limited to be divested

The Cabinet of Ministers approved the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies in pursuance to the provisions of the Insurance Industry Regularization (Amendment) Act No. 3 of 2011 to divest the life and general insurance business of Sri Lanka Insurance Corporation Limited to Sri Lanka Insurance Corporation Life Limited and Sri Lanka Insurance Corporation General Limited, the wholly owned subsidiaries of the said corporation.