The Investor Sentiment - Equity and investments forum for Sri Lankans

Join the forum, it's quick and easy

The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting
Search
Display results as :
Advanced Search
Latest topics
Coronavirus UpdatesFri May 21, 2021 11:24 amThe Invisible
Browns Investments updateTue Feb 02, 2021 2:38 pmYin-Yang
ACL CablesWed Dec 30, 2020 7:22 pmsubash
Merry Christmas to AllTue Dec 29, 2020 4:53 pmchutiputha
Trading Journal Sat Dec 12, 2020 11:33 pmxmart
HVA FoodsFri Dec 04, 2020 10:25 amThe Invisible
Tokyo CementMon Nov 23, 2020 9:42 amRajapaksap
Insider Dealings Fri Nov 20, 2020 2:30 ampjrngroup
UML United MotorsTue Nov 10, 2020 8:50 amThe Invisible
Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Go down
avatar
Danidu
Posts : 264
Join date : 2015-09-03
Age : 40
Location : Welisara

New taxes hamper life insurance industry Empty New taxes hamper life insurance industry

Fri Aug 18, 2017 9:11 am
2017-08-18
By Kamal Kandewatta

Highlighting that life insurance penetration was low in Sri Lanka, a senior insurance expert requesting for a helping hand from the government said that imposing new taxes would hamper future growth.
"The Inland Revenue Act clearly states, the bonus given to their customers by insurance companies is not subject to tax. But according to the new proposal this bonus is also subject to tax. This is not helping the industry," Ceylinco Life Managing Director and Chief Executive Officer R. Renganathan stressed.

Answering a question at the National Forum for Life Insurance Advisors (NAFLIA), Renganathan stressed, "If the current rate continues, it will take more than 17 years to sell life insurance policies to our labour force of 8.5 million. We need to improve the productivity and speed up the process. However, the insurance sector alone cannot reach this target. We need a helping hand from the government'.

He also mentioned that the Insurance Board of Sri Lanka (IBSL) has a major responsibility to take this message to the government.
Sri Lanka is heading towards an era in which the population aging is going to be a major concern. Life Insurance will have a significant role to play when it comes to welfare of these aged people. With frequent occurrence of natural disasters, the risks in the life of normal people are also increasing. Therefore, supporting the industry will create long term benefit to the national economy.

https://ceylontoday.lk/print20170401CT20170630.php?id=27895
avatar
jiggysaurus
Top contributor
Top contributor
Posts : 548
Join date : 2014-07-09

New taxes hamper life insurance industry Empty Re: New taxes hamper life insurance industry

Fri Aug 18, 2017 11:11 pm
Message reputation : 0% (2 votes)
@Danidu wrote:
penetration was low in Sri Lanka, a senior insurance expert requesting for a helping hand from the government

Defa this is true, penetration is low. All daughters of politticccas and parlimentarians like hirunika shud led a helping hand for the peeples to increase the penetration.
Backstage
Backstage
Top contributor
Top contributor
Posts : 3775
Join date : 2014-02-24

New taxes hamper life insurance industry Empty Re: New taxes hamper life insurance industry

Sat Aug 19, 2017 7:03 pm
Handjob is no substitute for penetration.
Back to top
Permissions in this forum:
You cannot reply to topics in this forum