SLI assigned AAA and P1 ratings

Lanka Rating Agency (LRA) has assigned Sri Lanka Insurance Corporation Ltd's (SLIC) long and short-term claims-paying ability ratings at AAA and P1.

The outlook on the long-term rating is stable. The ratings are upheld by SLIC's strong competitive position, financial flexibility derived from State ownership, systemic importance as the country's second largest premium underwriter and the above average capitalisation levels and solvency ratios.

LRA's (formerly RAM Rating Lanka), technical partner is CRISIL India. CRISIL is a global analytical company providing ratings, research and risk and policy advisory services.

CRISIL is India's leading ratings agency and is also a provider of high-end research to the world's largest banks and leading corporations.

CRISIL's majority shareholder is Standard and Poor (S and P). S and P, a part of McGraw Hill Financial (formerly The McGraw-Hill Companies) is the one of the world's foremost providers of credit ratings.