The Sri Lanka Insurance Institute (SLII) held its annual insurance congress recently in Colombo, amid a large gathering themed: 'Challenges in the Asian economy and their impact on the insurance industry'.
The event was attended by guests from Sri Lanka and overseas including Professor Ravindra Fernando from the University of Colombo's faculty of medicine; and guest of honour Indrani Sugathadasa, chairperson of the Insurance Board of Sri Lanka.
The SLII, which is celebrating its 35th year, is the pioneering insurance educational body in Sri Lanka. It was established with the objective of providing insurance education and to create a forum for fellowship activities for personnel in the insurance industry. The SLII conducts CII examinations on behalf of the CII and insurance agency examinations on behalf of the Insurance Board. In addition, it offers the Insurance Diploma, which is recognised by the CII to grant prior learning credits towards the ACII.
The insurance industry in Sri Lanka is going through major changes, such as the segregation of companies as long term or general, and the introduction of a risk-based capital system. The SLII will soon be incorporated by an act of parliament and will therefore be in an even stronger position to carry out its activities. It will be driven to provide much needed insurance education and uphold professional standards in the industry.