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The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka.It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike, [3] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [4]
Union Assurance held 8.7% of insurance sector assets in 2016, making them the fourth biggest player behind Sri Lanka Insurance, Ceylinco Insurance and AIA Insurance. [5] In 2018, Union Assurance was included in Forbes Asia's Best Under a Billion list. [6] The company was the only Sri Lankan company on the list that year. [7] The company ...
The employer of every employee to whom this Act applies shall be liable to pay an amount equal to three per centum (3%) of the total earnings including Wages, salary or fees, Cost of living allowance, special living allowance and other similar allowances, Payment in respect of holidays, The cost value of cooked or uncooked food provided by the employer to employees, Meal allowance and Any ...
Group insurance is an insurance that covers a group of people, for example the members of a society or professional association, or the employees of a particular employer for the purpose of taking insurance. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to ...
Ceylinco Life retained its position as the most valuable life insurance brand with a brand value of LKR3.8 billion in 2022. [17] Meanwhile, Ceylinco General became a close second in the most valuable general insurance provider with a brand value of LKR3.6 billion against the market leader, Sri Lanka Insurance's LKR4.1 billion brand value.
The company segregated its life and non-life insurance businesses and then divested its non-life insurance to Fairfax Financial. The company changed its name in 2016 to Softlogic Life Insurance. The company is a constituent of the S&P Sri Lanka 20 Index. Softlogic Life is one of the LMD 100 companies in Sri Lanka. The company is also ranked ...
Social insurance system: N/A: N/A Burundi: No: Social insurance system: N/A: N/A Cameroon: No: Social insurance system: N/A: N/A Canada: Basic pension: Canada Pension Plan: N/A: Registered retirement savings plan China: Social assistance: Social insurance system: Mandatory individual accounts: N/A Czech Republic: Basic pension: Social insurance ...
Janashakthi Insurance PLC is an insurance company in Sri Lanka. The company was incorporated in 1992 and its operations were commenced in 1994. Janashakthi Insurance became the first company to specialise in life insurance in Sri Lanka. Janashakthi Insurance became a public company when the company was listed on the Colombo Stock Exchange in 2008.