Insurance, banking fields lack qualified persons - SLIB chief

By Ananda KANNANGARA

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The Postgraduate Diploma in Actuarial Science and Higher National Diploma in Insurance was launched at the BMICH on Wednesday under the patronage of Sri Lanka Insurance Board (SLIB) Chairman Udayasiri Kariyawasam.

The Postgraduate Diploma in Actuarial Science is conducted by the Uva Wellassa University while the National Diploma in Insurance is conducted by the National Institute of Business Management (NIBM). Delivering the keynote address, SLIB Chairman Udayasiri Kariyawasam said that Sri Lanka's insurance and banking fields lack qualified persons to maintain the quality of their institutions.

"Therefore, the national diploma course, conducted by the NIBM will help to produce more persons and broaden these fields in the future,".

Uva Wellassa University, Vice Chancellor Chandra Embuldeniya said that due to the dearth of professionals in actuarial science in Sri Lanka heavy costs are incurred in getting them from overseas.

He said in addition to the Postgraduate Diploma Course, his university has launched a higher national diploma course to produce more actuaries.

Actuaries are professionals involved in assessment, evaluation and management of the future financial risks and they act as problem solvers, business analysts, consultants and financial risk assessors in the public and private sector.

The Uva Wellassa University also conducts the course at the BMICH after 5.30 p.m. on week days.