Friday Nov 15, 2024
Friday Nov 15, 2024
Friday, 12 April 2013 03:19 - - {{hitsCtrl.values.hits}}
Asian Alliance Insurance PLC (AAI), along with their new shareholders, Messrs. Financierings-Maatschappij voor Ontwikkelingslanden N.V. Netherlands (FMO) and Deutsche Investitions-und Entwicklungsgessellschaft MBH of Germany (DEG) has taken the initiative to host a seminar for Sri Lankan insurance companies and stakeholders of the industry on the theme, ‘The Future of Insurance in Sri Lanka’.
The aim of the seminar is to prepare the industry ahead of the segregated insurance operation requirement, which will come into effect from February 2015. The program has been designed to educate and share international expertise on the challenges that companies can expect to face when composite insurance companies split into separate Life & Non Life entities by 2015, and how they can successfully combat the challenges that would arise.
The one-day seminar will be held on 14 May at the Cinnamon Lakeside, Colombo, and is targeted towards the top management of insurance companies, including CEOs, COOs, CROs, Actuaries and CIOs as well as its stakeholders from legal, finance, securities and rating agencies. The comprehensive seminar programme will offer these decision-makers a 360-degree view of what obstacles they could face and share the experience on how such segregated companies in other markets work.
‘The Future of Insurance in Sri Lanka’ seminar will feature high profile insurance personnel who will share their experiences on segregation of insurance companies into life and non life operations. Some of the main highlights on the program include discussions on the topics of ‘Strategic choices related to splitting a composite insurance company’, ‘Operational challenges of splitting an insurance company’, ‘Progress of splitting in the Sri Lankan insurance industry, etc. with real life examples. This seminar provides ample opportunity for participants to engage in interactive sessions with experts so as to gain maximum leverage on the topic whilst exploring the technical and operational challenges of the segregation.
This vital industry initiative is very timely as the deadline for segregation of the insurance industry draws near and the expert knowledge shared during the seminar will provide an in-depth look into how Sri Lankan insurance leaders could guide their firms through this requirement with the minimum of difficulty.
