Insurance giant AIA enters SL
To acquire 92.3 % stake of Aviva NDB:
AIA Group Limited (AIA or the Group) has agreed
to acquire a 92.3 % stake in Sri Lankan insurer, Aviva NDB
Insurance, through Aviva NDB Holdings Lanka (Pvt.) Limited from
British insurer Aviva and Sri Lanka’s National Development Bank (NDB).
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NDB makes significant capital gains, poised for growth
In keeping with its strategic rearrangement of
investments within the Group pursuant to Aviva’s decision to exit
Aviva NDB Insurance (ANI), NDB Group has entered into a Share Sale
and Purchase Agreement with American International Assurance Company
Limited (AIA) of Hong Kong,
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AAA/P1 ratings for People’s Bank
RAM Ratings Lanka has reaffirmed the respective
long- and short-term financial institution ratings of the People’s
Bank (PB or “the bank”) at AAA and P1; the long-term rating has a
stable outlook.
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Tourism research centre launched
Sri Lanka’s first ever professional body in
tourism research “Centre for Research and Sustainability Studies in
Tourism (CRST),” was launched on Thursday in a bid to fill the
vacuum prevailing in the research and analytic arena in tourism
related industries.
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