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Sri Lanka Insurance celebrates a glorious 62 years of service
…inaugurates Business Operations for 2024
Sri Lanka Insurance (SLIC) inaugurated business operations for the year 2024 on Jan 1, at Sri Lanka Insurance Head Office, in Colombo. ‘Customer centricity through focused specialisation’ was announced as the theme for the business drive of 2024. The event was graced by the Board of Directors, Corporate Management, and Staff of SLIC. Business launches were also carried out at branch level in parallel to the main event at head office. The branch staff joined the head office event via live stream. The day’s proceedings commenced with observing blessings from the four religious believes.
Sri Lanka Insurance celebrates a glorious 62 years of service as the largest and strongest state insurer. The organisation remains at the helm of the insurance sector and has helped maintain industry-wide growth and equity, even during testing times. Year 2023 was a challenging year overall for the business community,
however Sri Lanka Insurance have risen to the occasion and it is evident through their exceptional performance.
Sri Lanka Insurance possess the largest asset base and the Life Fund solidifying its position as the strongest and largest insurance provider of Sri Lanka. The year marked the significant achievement of Sri Lanka Insurance being able to declare a SLR. 10.4 billion Life Insurance Bonus for 2022 to its policyholders. This is the 1st time in the Life Insurance industry that an organization has declared a Bonus over SLR 10 billion. Since 2006, SLIC has consistently declared the highest Life Insurance bonus each year, amounting to an unmatched total of SLR. 92.8 billion. Furthermore, SLIC concluded the year successfully recording a Rs. 21 Billion GWP in Life Insurance and Rs. 23.4 Billion GWP in General Insurance business.
In his New Year message, Chairman of Sri Lanka Insurance, President Counsel Mr. Ronald C Perera stated, ‘The dedication and hard work of all employees of Sri Lanka Insurance has contributed to the financial success and numerous accomplishments of the organisation in the past year. It is because of the employees who are the foundation of the company that Sri Lanka Insurance has withstood many challenges it has seen.
” He further commented, “Sri Lanka Insurance will embark on a new journey in 2024 with all preparations made for the segregation of the company as Sri Lanka Insurance Life and Sri Lanka Insurance General.” The Chairman reiterated that it is a regulatory requirement and this change will bring positive changes and a positive growth to both the Life Insurance and General Insurance categories.
Chief Executive Officer of Sri Lanka Insurance, Mr. Chandana L. Aluthgama in his New Year message stated, “despite the many challenges the Company has successfully completed another year due to the resilience showcased by the employees and the company as a whole. Regardless of the adversities we have kept our promises to our customers and have made an impact on the people by giving back to the communities to uplift their life styles.
” He further stated, “As we embark` on a new journey as Sri Lanka Insurance Life and Sri Lanka Insurance General, the business drive for both Life and General categories in 2024 will be ‘Customer centricity through focused specialisation’. This theme underscores the very core of SLIC’s mission to place its customers at the heart of everything we do. It is a commitment to not only meet but exceed their expectations through our expertise and specialized services by aligning our business strategies to ensure a superior customer experience.”
Adding to the success of the company, SLIC had numerous other achievements during the year. Sri Lanka Insurance was awarded the ‘The Most Loved Insurance Brand’ by Brand Finance for the sixth consecutive year. SLIC was also listed in the top 100 ‘Most Valuable Brands’ in Sri Lanka by Brand Finance 2023. The Sri Lanka Insurance General brand was awarded the ‘Most Valuable General Insurance Brand 2023’ while Sri Lanka Insurance Life brand secured 1st Runner-up in the ‘Most Valuable Life Insurance Brand 2023’ category.
Among the many other awards SLIC was recognized at the Women Friendly Workplace awards 2023 under the special category for ‘Empowering Women Entrepreneurs with Life Insurance Agencies’. Furthermore, the company won the Insurance, Finance and Investment sector award at the ‘Great HR Quiz’. SLIC also secure the Runner-Up award for Best Managed Project in Banking and Financial Sector at the National Project Management Awards 2023.
The organisation is technically robust and has been awarded the ISO 9001:2015 quality standard and Carbon Footprint Certification complying with ISO 14064-1:2018. The company continues with its initiatives to give back to the society though various projects. A free Life Insurance cover was gifted to parents of children born on World Children’s Day for the second consecutive year. Additionally, 375 Suba Pathum scholarships were awarded to top performers at the Grade 5 scholarship, GCE Ordinary Level and Advanced Level 2020/2021 examinations.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
