Category: Daily Financial Times

HSBC has been voted as the No. 1 Cash Management Provider in Sri Lanka in Euromoney’s Cash Management Survey 2025, an independent survey based on votes by corporate clients.

The bank provides a wide range of cash management solutions in Sri Lanka serving corporate clients, that include leading local conglomerates, global multinationals subsidiaries, mid-market enterprises, financial institution groups, and non-banking financial institutions.

HSBC Sri Lanka CEO Mark Surgenor said: ‘We are proud to be voted the best cash management provider in Sri Lanka for the second consecutive year. The recognition is not just a testament to the trust our clients place on us, but also the insights and partnerships our team brings to support their ambitions to grow and meet their evolving financial needs.’

With over 130 years of history, HSBC has connected Sri Lanka to the world through its global footprint and connectivity and continues to support its Corporate and Institutional Banking clients by driving two-way trade and investment flows that strengthen the country’s economic growth.

HSBC was also voted as the #1 Overall Cash Management Provider for Large Corporates for a third time globally and #1 domestic Cash Management Provider across 13 countries in Asia, Europe, and the Americas by 29,500 treasury practitioners worldwide who contributed to survey.

HSBC’s strength and stability are further reflected through the awards won earlier this year. HSBC Sri Lanka was awarded the Best International Bank in Sri Lanka for 2025 by Euromoney and Finance Asia, Best Service Provider for Cash Management in Sri Lanka by The Asset Triple A Treasurise Awards 2025, Best Trade Finance Bank, and #1 in Client Service and Products, and Technology in Euromoney’s Trade Finance Survey 2025.

Lanka Ventures PLC and LVL Energy Fund PLC have announced the appointment of Sanjay Wijemanne to their Boards as a Non-Independent Non-Executive Director.

Wijemanne is the Chief Operating Officer at Hatton National Bank PLC and manages the areas of Wholesale Banking, SME/Microfinance, Retail Banking, Islamic Banking, Trade, Transaction Banking, Network, Channel Management, Custody, Client Service and Digital Banking.

He holds a BSc in Business and Finance from Mount Saint Mary’s University, USA.

He is also a Director at HNB Stockbrokers Ltd., HNB Investment Bank Ltd, HNB General Insurance and Fintech Forum (Guarantee) Ltd and former Director of Lank Clear Ltd.

He commenced his banking career as a Management Trainee/Executive at HNB in 1996 where he covered areas of Branch Banking and Corporate Banking. Thereafter in 2000 he joined HSBC where he held different positions such as Vice President – Custody and Clearing, Head of Sales, Head of Branches including Premier Banking, Branch Manager – Kollupitiya Branch/Manager Premier Centre.

He then joined Standard Chartered Bank in 2007 and held positions of Head of Retail Banking, General Manager – Premium Banking Branch Sales and Services and General Manager – Wealth Management Value Centre.

He represented Sri Lanka in Tennis. He was a member of the Sri Lanka Davis Cup team from 1989 to 1995 captained the team in 2002. Wijemanne represented Sri Lanka at the SAF games in Colombo and India and won two Bronze medals.

The opening session of the 11th Annual Daily FT-CICRA Cyber Security Summit set a strong, forward-looking tone with a keynote address by Dibyajyoti Sen, VISA Risk Practice Lead for Visa Consulting and Analytics, Asia Pacific. Speaking under the theme ‘Future-Proof Security: Predicting Cyber Threats Before They Strike’, Sen outlined how artificial intelligence, quantum computing, and sophisticated supply chain attacks are fundamentally reshaping the global cybersecurity landscape.

A complex and fragmented threat environment

Sen began by mapping out the 2025 cyber threat landscape, drawing from Visa’s global intelligence network. Financial institutions, he said, remain prime targets, facing sustained, high-volume attacks from increasingly organised and well-funded threat groups. He pointed to the fragmentation of the ransomware ecosystem, with new collectives like DragonForce and Scattered Spider emerging to replace older groups. ‘We’re seeing the evolution of ransomware-as-a-service cartels where brand loyalty and ideology have given way to a more commercialised, marketplace-driven model of cybercrime.’

Beyond traditional attacks, nation-state actors are escalating operations to infiltrate critical infrastructure, including energy, transport, and telecommunications networks. Sen highlighted how campaigns such as Volt Typhoon and Salt Typhoon compromised routers, internet service providers, and even government surveillance systems through outdated hardware. ‘The lesson is that our weakest link isn’t always the newest technology. It’s often the legacy systems we’ve ignored,’ said Sen.

One of the most alarming shifts, Sen warned, is the weaponisation of generative AI (GenAI) by cybercriminals. The emergence of tools like GhostGPT, an uncensored AI chatbot marketed on Telegram for creating malware, phishing scripts, and exploits has lowered the technical barrier for threat actors.

‘AI has become a force multiplier,’ Sen said. ‘We’re now seeing less-skilled attackers execute highly sophisticated, personalised fraud campaigns that once required deep expertise.’ He cited instances where ransomware groups such as Black Basta and EncryptHub used GenAI to craft credible communications, rewrite malicious code, and even negotiate ransom payments.

These developments, he emphasised, require AI governance and guardrails within organisations to ensure that defensive tools evolve in tandem with offensive innovation. ‘The same AI that protects us can be turned against us if deployed without oversight,’ he added.

Insider and supply chain risks

Sen also drew attention to a new breed of insider threat which is state-sponsored actors, posing as legitimate remote IT workers within global firms. Some of these fraudulent employees, he revealed, have earned over $ 300,000 annually, with proceeds allegedly funding weapons programs. ‘The risk isn’t only data theft but the slow, silent compromise of trust within organisations,’ warned Sen.

He called for rigorous identity verification, including live camera interviews, multi-document checks, and network monitoring for VPN or proxy usage. Similar vigilance, he said, must apply to supply chain security, where a single breach in a third-party vendor can cascade across entire industries.

Transitioning to solutions, Sen also urged organisations to embed AI not only in security operations centres (SOCs) but across the entire software development lifecycle (SSDLC). According to him, this ‘AI-augmented defence’, enables early threat detection, automated incident response, and adaptive monitoring with human oversight always in the loop.

He highlighted Zero Trust architecture and pessimistic design principles as Visa’s core pillars, advocating for a ‘verify, then trust’ mindset where every device, user, and network interaction must be authenticated. ‘Security today is not about building walls; it’s about continuous verification,’ he remarked.

Visa’s cybersecurity strategy, Sen added, has already yielded tangible impact, blocking over 66 million attacks targeting APIs and web applications every month, along with 10 million email-based threats and $ 40 billion in attempted fraudulent payment volume.

Preparing for the quantum era

Sen concluded with a stark warning about quantum computing’s disruptive potential. With the world’s largest quantum systems approaching 1,200 qubits and steady improvements in accuracy, he noted that ‘the encryption we rely on today may not hold beyond the next decade.’ Breaking 2048-bit RSA encryption could soon take seconds, not centuries, he explained, underscoring the urgency for quantum-resistant cryptography.

‘The window to prepare is closing,’ Sen said. ‘We have six to eight years before essential cryptography standards must evolve. Every organisation should be investing now in quantum-safe infrastructure to secure future data.’

Closing his address, Sen urged business leaders to view cybersecurity as a strategic investment, not a technical expense. ‘Future-proofing security is about mindset. As AI, quantum, and cybercrime converge, only those who adapt early will safeguard both trust and growth,’ remarked Sen.

Shift from reactive to predictive security

The guest address was delivered by Brandix Apparel Ltd., Director Oshada Senanayake, who urged Sri Lankan enterprises to shift from reactive to predictive cybersecurity, a mindset he described as the only viable defence in an era defined by AI-accelerated attacks and converging digital risks.

Framing his talk around the theme ‘Future-Proof Security: Predicting Cyber Threats Before They Strike’, Senanayake argued that the ‘threat math’ has flipped. Attackers today use automation and artificial intelligence to launch 36,000 scans per second, while nearly 80% of ransomware strains already employ AI. ‘We’ve reached a point where building higher walls is no longer enough. It’s time to install better radar systems,’ he said, calling for a national and corporate-level move from ‘assume breach’ to ‘anticipate and neutralise’.

Senanayake outlined a layered ‘Predictive Security Stack’ that integrates business governance, threat intelligence, and AI analytics to deliver early warning indicators before attacks materialise. This model, aligned with NIST CSF 2.0 and MITRE ATT and CK, incorporates deception technology, automated exposure validation, and Zero Trust frameworks.

He highlighted three strategic pillars of predictive defence, which are Intelligence, AI, and Community. Intelligence focuses on external and internal telemetry, ranging from dark web monitoring and decoy credentials to adversary emulation, to create actionable risk profiles tied to business priorities. AI analytics leverage User and Entity Behavioural Analytics (UEBA) and graph modelling to detect anomalies early, while the community pillar stresses shared learning through sectoral ISACs (Information Sharing and Analysis Centres) and coordinated incident response networks.

‘The fastest signal-to-action conversion now happens when organisations collaborate,’ Senanayake noted. ‘Cyber resilience is no longer a solo effort; it’s a shared national mission.’

AI governance and secure design

With generative AI advancing faster than regulatory frameworks, Senanayake warned that AI systems themselves are becoming new attack surfaces. He recommended adopting NIST AI RMF 1.0 and ISO/IEC 42001 standards to establish trust boundaries, manage prompt injection risks, and prevent model theft. ‘We must design AI systems like we design aircraft, not just for performance but for fail-safety,’ he said.

He also referenced Sri Lanka’s ongoing policy landscape, citing the Personal Data Protection Act (PDPA), the Online Safety Act, and the forthcoming National Cybersecurity Bill as crucial foundations. Yet he urged stronger regional cooperation and alignment with Singapore’s AI Verify and India’s evolving MeitY governance frameworks to strengthen Asia’s collective posture.

Closing his session, Senanayake unveiled a 90-day Predictive Security Playbook, offering a practical roadmap for Sri Lankan organisations to operationalise cyber resilience. In the first 30 days, he recommended mapping critical attack paths, deploying canary sensors, and piloting UEBA analytics to identify behavioural anomalies. Between days 31 and 60, organisations should integrate threat intelligence with SOAR systems and initiate pre-launch domain monitoring to anticipate external risks. By the final phase, from days 61 to 90, Senanayake urged teams to red-team their generative AI applications, establish AI risk management profiles, and define executive-level KPIs under the CSF ‘Govern’ function, ensuring cybersecurity accountability extends from technical teams to board leadership.

Building collective cyber resilience

The first session concluded with a panel discussion moderated by Daily FT CEO and Editor Nisthar Cassim, featuring Dialog Axiata Group Chief Information Officer Asela Perera, Central Bank of Sri Lanka Chief Information Security Officer Sanjee Balasooriya, and Hashx Ltd., Founder and CEO Avishka Bandara, along with Dibyajyoti Sen and Oshada Senanayake.

The panel explored the growing urgency for cross-sector collaboration and intelligence sharing to strengthen Sri Lanka’s collective cyber defence posture. Asela Perera noted that while Sri Lankan enterprises have accelerated their digital transformation journeys, many still underestimate the operational exposure created by complex vendor ecosystems and legacy integration. He stressed that board-level commitment and continuous testing are now prerequisites for resilience, not afterthoughts.

Adding a regulatory perspective, Sanjee Balasooriya outlined the Central Bank’s efforts to align the financial sector with global cybersecurity benchmarks, including mandatory incident reporting, red-teaming exercises, and upcoming compliance frameworks to reinforce risk management across licensed financial institutions. ‘Trust in the digital economy is built on security assurance. Financial stability now depends on cyber stability,’ he observed.

Offering an entrepreneurial viewpoint, Avishka Bandara emphasised the importance of local innovation and cyber talent development, urging greater support for startups that can deliver indigenous cybersecurity solutions. He noted that emerging technologies such as blockchain, secure APIs, and decentralised identity models could significantly enhance transparency and authentication across digital ecosystems.

Strategic partners of the 11th annual cyber-security summit were Visa and Sysco LABS, Platinum partner was the South Asia Technologies, Community Impact Partner was Meta, Payment network partner was LankaPay. Other partners included platform partner #HashX, podcast partner Techtalk, hospitality partner Cinnamon Grand, Colombo, Creative partner Mullenlow Sri Lanka and electronic media partner Yes101, TV1 and

The Sri Lanka National Esports teams, powered by Dialog Axiata, represented the nation in the Asian Online Regional Qualifiers for the International Esports Federation’s (IESF) 17th World Esports Championship.

The qualifiers brought together top Esports athletes from across Asia to compete in multiple titles, including Counter-Strike 2 (CS2), Dota 2, Mobile Legends: Bang Bang (MLBB), MLBB Womens, and PUBG MOBILE.

Sri Lanka’s representatives, selected through national qualifiers conducted earlier this year by the Sri Lanka Esports Association (SLESA), competed with determination against strong opposition from across the continent.

In CS2, the national lineup, Geeshan ‘Defiance’ Jayarajah, Vibuda ‘ChromnZ’ De Zoysa, Andrew ‘ShAKeRZ’ Damien, Muzakkir ‘plastE’ Fahim, Zayyaan ‘HeLLScrM’ Ali, Afzal ‘Matrix’ Miqdhad and Thisura ‘VeZpuLa’ Lakdinum, battled in the South Asia region bracket.

The Dota 2 squad, Azeem ‘zem’ Uziri, Umar ‘Le Toxicity’ Azmal, Aadil ‘Seijin’ Uziri, Mawshook ‘Mawshook’ Mowlana, Hareshan ‘Harry’ Indravarnan, Jarim ‘Ryze’ Ahamed, and Thilina ‘Zoom’ Dilshan, represented Sri Lanka against regional giants in a challenging qualifier run.

Sri Lanka also fielded strong teams in both MLBB categories. The Open team consisting of Hudson ‘VOLTREX’ Jerianz, Binara ‘DEADZONE’ Lankatilleke, Dasun ‘SKYZONE’ Hansana, Ashan ‘ZEYROX’ Sovis, Sandun ‘TNC’ Madhubhsahana, Tishan ‘THE BLACK CAT’ Dhanuja, and Sithija ‘REBOOT’ Sandaruwan, competed in South Asia. The Women’s team had Kavindhya ‘CLEMENTINE’ Madhubhashini, Yasara ‘YASARA’ Santhunga, Gimhani ‘TIANA’ Thashmila, Sithmini ‘SITHMINI’ Vishma, Sandami ‘CRYSTAL’ Dankoluwa, Shanaz ‘MIDNIGHT’ Dilum, and Hiruni ‘HIRU’ De Silva who showcased the growing presence of women in Esports from Sri Lanka.

In PUBG MOBILE, the Sri Lankan team of Dilshan ‘DILA31’ Bandara, Avishka ‘DESTROxAN’ Srihan, Chanuth ‘Sana’ Santhosh, Thaabish ‘THABSmvp’ Thaabish, Sethum ‘ØMEGA’ Deelaka and Azlan ‘AZLAN’ Ameen competed strongly against some of the best squads in the Asia and Oceania region, demonstrating resilience throughout their matches.

Sri Lanka Esports Association President Raveen Wijayatilake said: ‘International qualifiers such as these are vital stepping stones for our athletes. Competing against Asia’s finest provides them with invaluable exposure and experience that strengthens Sri Lanka’s Esports ecosystem. We are proud of their dedication and look forward to building on this momentum.’

India maintained their 100% start to the Women’s World Cup with a comfortable 88-run win over rivals Pakistan in Colombo.

Harleen Deol top-scored with 46 and Richa Ghosh smashed an unbeaten 35 from 20 balls late on to lift India up to 247 in an innings that saw numerous batters make starts but fail to kick on.

Seamer Diana Baig took 4-69 as Pakistan bowled India out for the first time in a women’s ODI from the last ball of the innings but a first win still eludes them.

After slipping to 26-3 in the chase, Pakistan briefly rallied as Sidra Amin – who went on to make 81 from 105 balls after being dropped three times – and Natalia Pervaiz put on 69 for the fourth wicket.

But India, led by Kranti Goud’s 3-20, stuck to their task to bowl Pakistan out for 159 in the 43rd over and move top of the group table.

As is so often the case when India and Pakistan meet, though, there was far more to it, with controversy and confusion peppered throughout the day.

Perhaps the biggest talking point came from an incident early in Pakistan’s innings when opener Muneeba Ali was controversially run out.

The left-hander was struck on the pad by Goud and as the India bowler appealed unsuccessfully for lbw, Deepti Sharma collected the loose ball and threw at the stumps.

She hit but replays showed Muneeba had grounded her bat before the ball was even in the picture and a ‘not out’ decision from the third umpire Kerrin Klaaste went up on the big screen in the ground.

However, before the game restarted, the decision was looked at again and it transpired that when the ball hit the stumps and dislodged the bails, Muneeba had lifted her bat and was still stood out of her crease.

While the batter had already grounded her bat and was not trying to sneak a single, the third umpire changed her decision to ‘out’ and despite Pakistan protests, which saw Captain Fatima Sana tell her batter not to leave the field for a short time, Muneeba had to go.

In a further twist, had India simply reviewed the lbw decision, the whole controversy would have been avoided because ball-tracking showed Muneeba was plumb lbw.

Against a backdrop of political tensions between the two countries, that captains Sana and Harmanpreet Kaur did not shake hands, which was no surprise – especially given the precedent set in recent matches between the men’s sides.

Pakistan batter reprimanded for ICC Code of Conduct breach

Pakistan’s batting standout Sidra Amin has been reprimanded for breaching Level 1 of the ICC Code of Conduct during their ICC Women’s Cricket World Cup 2025 contest against India in Colombo.

The right-handed batter was found guilty of breaching Article 2.2 of the ICC Code of Conduct for Players and Player Support Personnel, which relates to ‘abuse of cricket equipment or clothing, ground equipment or fixtures and fittings during an International Match.’

The incident occurred during the 40th over of Pakistan’s chase, when Sidra forcefully hit her bat onto the pitch after being dismissed.

In addition to the reprimand, one demerit point has been added to Sidra’s disciplinary record. This is her first offence in a 24-month period.

Sri Lanka showcased the rich diversity of its tea industry at a landmark charity auction of specialty estate teas representing the 7 agro-climatic regions of Sri Lanka. Renowned globally for producing the world’s finest Orthodox black teas, a Charity Tea Sale in celebration of the successful completion of the Sri Lanka Pavilion at EXPO 2025 was held in Osaka, Japan on 26 September.

The charity auction was organised in collaboration with the Sri Lanka Tea Board and the Colombo Tea Traders’ Association, assisted by the Colombo Brokers’ Association, The Planters’ Association of Ceylon and the Sri Lanka Tea Factory Owners Association.

All proceeds from the auction will be dedicated to uplifting the lives of tea estate communities by funding educational programs and health facilities.

This event not only highlights the excellence of Ceylon Tea, but also demonstrates the industry’s deep commitment to social responsibility and sustainable development.

The highest price of JPY 125,000 per kg was achieved by New Vithanakande Tea Factory for a line of FFEXSp from the Sabaragamuwa Region, which was adjudged the overall winner of the Bronze Award.

The second highest price of JYP 65,000 per kg was secured by Telbedde Estate of Balangoda Plantation PLC, a member of MelstaCorp/Stassen Group of Companies, for a line of OP1 from the Uva Region, which was adjudged the overall winner of the Gold Award.

The third highest price of JYP 55,000 per kg was secured for a line of Lovers’ Leap FBOP of Pedro Estate of Kelani Valley Plantations PLC, a member of the Hayleys Group in the Nuwara Eliya Region, which was adjudged the overall winner of the Silver Award.

The Sri Lanka Army has commenced a series of multi-religious blessing ceremonies in connection with its 76th Anniversary, falling on 10 October.

These programs, held across the country, invoked blessings on the Army, its personnel, and the motherland, reflecting the nation’s rich religious and cultural traditions.

The inaugural ceremony was held on 26 September at the Jaya Sri Maha Bodhi, Anuradhapura, under the patronage of Commander of the Army Lieutenant General Lasantha Rodrigo. A procession, carrying flags of all Army establishments, began near the historic Ruwanweli Seya and proceeded to the Jaya Sri Maha Bodhi, where the flags were blessed before the sacred tree.

Simultaneously, Hindu religious rites were conducted at the Sri Kandasamy Kovil, Vavuniya, also under the patronage of the Army Commander. In addition, the Commander paid a special visit to ‘Abhimansala 1′ wellness resort in Anuradhapura, where he inquired into the wellbeing of disabled veterans undergoing treatment.

Continuing the blessings, a flag blessing ceremony was held at the Temple of the Sacred Tooth Relic (Sri Dalada Maligawa), Kandy, on 28 September and special religious ceremony was held at the sacred Kataragama Kirivehera and Devala premises on 29 September. The Commander of the Army, together with senior officers, officers, and other ranks from all regiments, attended these historic occasions.

As part of the inclusive series of events, Christian and Islamic religious ceremonies were also held. On 1 October, a special Holy Mass was conducted at St. Thomas’ Church, Kotte, presided over by Bishop of the Archdiocese of Colombo His Eminence Anton Ranjith, along with other Christian clergy, to invoke blessings on Army flags. The following day, 02 October, a special Qirath prayer session was conducted at the Jummah Mosque, Kollupitiya, with the participation of Chief Priest Riswan Maulavi and several other maulavis.

Senior Officers, officers, and other ranks representing all regiments of the Sri Lanka Army joined these events, reaffirming the Army’s longstanding tradition of seeking the blessings of all major faiths in Sri Lanka as it enters its 76th year of service to the nation.

Health and Mass Media Minister Dr. Nalinda Jayatissa said that several long-standing laws and regulations are obstructing efforts to address the ongoing shortage of medicines in the country.

He noted that while some question why the Government cannot amend these laws despite having a Parliamentary majority, many of the regulations in question are not new but inherited from the British colonial period.

Speaking at the opening of the Vipassi Buddhist Centre at the Colombo National Hospital, Dr. Jayatissa stressed that legal reforms in the health sector must be approached carefully, as existing rules are interlinked and cannot be amended in isolation.

He further explained that strictly adhering to these outdated provisions slows down decision-making and makes it difficult to respond swiftly to urgent challenges in the health system. As a result, he said, the Government is often compelled to depend on assistance from donors, philanthropists, and international partners to manage shortages and maintain medical supplies.

Softlogic Life, has emerged as finalist in two prestigious awards categories at the 29th Asia Insurance Industry Awards (AIIA) 2025: ‘Digital Insurer of the Year’ and ‘AI Initiative of the Year’.

This recognition marks another significant milestone in the company’s journey of innovation, placing both Softlogic Life and Sri Lanka firmly on the global insurance stage.

Now in its 29th year, the Asia Insurance Industry Awards stand as the region’s most respected benchmark of excellence, celebrating outstanding achievements across insurers, reinsurers, brokers, and service providers. The judging process, overseen by a panel of international industry experts, involves rigorous evaluation and peer-reviewed scrutiny, making the shortlist a testament to innovation, impact, and performance.

Softlogic Life’s nomination for Digital Insurer of the Year reflects its pioneering end-to-end transformation of the insurance value chain. By fully digitalising sales, distribution, claims, and policy servicing, the company has created a seamless customer journey while ensuring strong back-office integration. From instant policy issuance and mobile-first micro-products to the cashless Claim IT system at over 60 hospitals and a digital OPD platform that settles 97% of claims within a day, Softlogic Life’s digital ecosystem has redefined service delivery in Sri Lanka. These innovations, powered by its 100% digital E-Advisor platform that enables over 70% of policies to be auto-underwritten and online policy issuance within minutes, have accelerated exponential growth in customer acquisition, retention, and satisfaction.

Softlogic Life’s nomination for AI Initiative of the Year reflects its leadership in using artificial intelligence to reimagine insurance not just in Sri Lanka, but across Asia.

At the core of this transformation is the groundbreaking Insta Claim model, built on Microsoft Azure, Google Cloud, and custom AI solutions, which has revolutionised claims processing by cutting settlement times from five days to minutes, quadrupling processing capacity per employee, and scaling to manage 180 million OPD claims every month. Today, 35% of all claims are fully automated, while more complex cases are seamlessly managed through human-AI collaboration. Sophisticated algorithms further strengthen trust by ensuring genuine claims are honoured, reducing fraud to 2% and duplicates to 8%. Beyond Insta Claim, innovations such as AI-driven pricing models, the Health Score App for proactive health management, and the Lifey Virtual Assistant for smarter customer interactions have collectively streamlined operations, lowered costs, enhanced engagement and underwriting efficiency. Together, these digital and AI-powered solutions are delivering faster, more transparent service experiences-empowering over 1.3 million customers with greater confidence and trust in Softlogic Life.

Softlogic Life Managing Director Iftikar Ahamed said: ‘Being shortlisted in two major categories at the Asia Insurance Industry Awards 2025 is a proud moment for Softlogic Life and for Sri Lanka. This recognition reflects the relentless effort of our team to harness the power of digital technology and AI to transform the way insurance is delivered. At a time when customer expectations are being reshaped by digital-first experiences, we have proven that Sri Lankan companies can compete and lead on the global stage. We remain committed to pushing the boundaries of innovation to make insurance simpler, faster, and more accessible to every Sri Lankan.’

Being recognised among the top three insurers in Asia is a powerful testament that, for Softlogic Life, technology and AI are far more than buzzwords-they are embedded across the entire value chain to deliver real value for all stakeholders. This approach has been a driving force behind the company’s tenfold GWP growth in just 10 years. In 2024 alone, Softlogic Life achieved a remarkable 71% year-on-year growth in new policies and secured the highest health insurance market share. Even with a substantial increase in claims volume, the company paid the largest and fastest health and protection claims in the industry, without increasing its workforce-demonstrating the full power of tech-enabled efficiency. This relentless focus on customer-centric innovation has led to an industry-leading Net Promoter Score of 68+, alongside 29% GWP growth in 1H2025.

Softlogic Life EVP/Chief Information Officer Amal Dharmapriya said: ‘This recognition validates our commitment to building a truly digital-first insurer by embedding advanced technologies across every process. From cloud-native platforms to AI-enabled analytics, our focus has been on creating resilient, scalable systems that deliver speed, security, and reliability for our customers. Being shortlisted amongst Asia’s top 3 at the Asia Insurance Industry Awards reflects the strength of our technology architecture and its impact in driving measurable value across the business.’

EVP/Chief Digital Innovation Officer Saranga Wijayarathne said: ‘At Softlogic Life, digital and AI innovation is about reimagining the way people experience insurance,’ said. ‘Our focus has been on simplifying complex processes, personalising engagement, and delivering instant service in ways that customers-and even the industry-once thought impossible. This global recognition is proof of how our AI and digital platforms are making insurance more intuitive and inclusive, and it reflects our ability to compete with the very best in Asia.’

CM Holdings PLC yesterday said that it was seeking shareholder approval to dispose of a 109.2 perches property owned by the company valued at Rs. 382.2 million.

The property located in Thalangama South, Battaramulla was valued in 31 March, the company said.