SLICGL Reaffirmed as SL's Only A+ Rated Insurer 📈

• Fitch Ratings has reaffirmed Sri Lanka Insurance Corporation General Ltd. (SLICGL) with an 'A+(Ika)' National Insurer Financial Strength (IFS) Rating, maintaining a Stable Outlook. • Highest Rated: SLICGL holds the distinction of being Sri Lanka's only insurer with an A+ rating and the highest-rated insurance brand in the country. • Market Leadership: The rating validates the company’s strong financial profile and leading position, having held the No. 1 spot in the Sri Lankan general insurance market throughout 2024 (IRCSL data). • Capital Strength: Capitalisation remains strong, evidenced by a Risk-Based Capital (RBC) ratio of 277.3% at end-2024, significantly above the 120% regulatory minimum. • Growth Focus: Despite recent pressures, profitability is expected to strengthen through enhanced claims management and growth across key business lines, led by the motor portfolio, alongside expansion in fire and health segments. • Strategy: The separation of the general arm from the life insurance counterpart in 2024 positions the State-owned pioneer for more focused management and agility.