June 03,2015 (LBO) – Sri Lanka’s Ceylinco Insurance said that it seperated it insurence business to continue as two different entities- Ceylinco Life Insurance and Ceylinco General Insurance.
The company said in a filing to CSE that this decesion was taken in keeping with section 53 of the regulation of the insurance industry (amended) act No 03 of 2011,composite insurence companies like Ceylinco Insurence Plc who were engaged in carrying on both long term and genaral business is required to segregate the two classes of insurence business into two seperate companies.
The company said in a filing to CSE that this decesion was taken in keeping with section 53 of the regulation of the insurance industry (amended) act No 03 of 2011,composite insurence companies like Ceylinco Insurence Plc who were engaged in carrying on both long term and genaral business is required to segregate the two classes of insurence business into two seperate companies.
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