RAM Ratings Lanka revises SLIC's rating outlook to positive
RAM Ratings Lanka has revised the outlook on the Claims-Paying
Ability rating of Sri Lanka Insurance Corporation Limited ("SLIC" or
"the Company") to positive; SLIC currently carries AA- Claims-Paying
Ability rating. The positive outlook reflects the stronger level of
financial flexibility that SLIC is expected to enjoy in the form of
This follows the Supreme Court's decision to annul the privatisation
of SLIC which took place in 2003, giving the Government a 90 percent
stake in the Company.
RAM Ratings Lanka will closely monitor developments with regard to
SLIC and changes that the state control may have on the Company in terms
of strategic direction and operations.