NITF happy with AAA+ rating from RAM

The National Insurance Trust Fund (NITF) said yesterday that, as a Government owned reinsurance body, it was pleased to have been recognised and rated by the Malaysian-based RAM Rating International organisation as an AAA+ standard organisation.

The award document was presented to NITF Chairman Senaka Abeygoonasekera by Sri Lanka Representative of Malaysian Ram Rating Organisation Adrian Perera at NITF head office, Colombo.

NITF is a national organisation coming under the direct purview of President Mahinda Rajapaksa, who is also the Minister of Finance, and performs under the supervision of Secretary to the Treasury, Dr. P.B. Jayasundera.

“We are proud to announce that as the only reinsurance organisation providing the country’s most medical insurance covers under the well known ‘Agrahaara’ insurance scheme, NITF provides total insurance cover for all migrant workers with the coordination of the Sri Lanka Bureau of Foreign Employment,” Abeygoonasekera said.

Out of its large premium savings NITF has contributed Rs. 2.5 billion for the upcoming Budget 2011 and invested another Rs. 1.2 billion in the Colombo restructuring project for housing with the UDA bringing a high yield of interest to NITF.

In 2011, NITF is expected to introduce a fully-automated electronic card for its nearly 1.2 million ‘Agrahaara’ medical scheme members to obtain cashless medical treatments from hospitals countrywide.