Continental Insurance enters market

Continental Insurance Lanka Limited has been registered by the Insurance Board of Sri Lanka (IBSL) as an insurance company to carry on general insurance business under the terms of provisions in the Regulation of Insurance Industry Act No. 43 of 2000, States an Insurance Board of Sri Lanka press release.

With the entrance of Continental Insurance Lanka Limited in to the industry, the number of insurance companies engaged in general insurance business has risen to 16.

Out of the sixteen insurance companies, five insurance companies carry on only general insurance business while the rest are registered to carry on both long-term and general insurance businesses. Eighteen insurance companies (Insurers) are currently registered with the IBSL.