IBSL extends suspension on Ceylinco Takaful

The Insurance Board of Sri Lanka (IBSL) has extended the suspension imposed on Ceylinco Takaful Ltd. in respect of General Insurance Business in Terms of Section 18 (4) (b) of the Regulation of Insurance Industry Act, No. 43 of 2000 for a further three weeks from August 26, 4.31 p.m. to 4.30 p.m. on September 16, a media release from IBSL said.

Accordingly, Ceylinco Takaful Ltd. is prohibited from issuing new insurance policies in respect of General Insurance Business until the suspension is removed and informed in writing to Ceylinco Takeful Ltd. by the IBSL.