Press briefing of Cabinet Decision taken on 2012-03-14

Annual Report and Accounts of the Sri Lanka Insurance Corporation Limited for the year 2010

- the Sri Lanka Insurance Corporation had reported a 24.6 percent growth in life insurance premium during the year under review, increasing from Rs.4819 million in 2009 to Rs.6009 million in 2010. The company had achieved a profit of Rs.15,130 million before tax and Rs.13,270 million after tax, during the year under review. The Company has made a major investment in November, when it purchased the 100 percent shareholding of Shell Gas Terminal Lanka (Pvt) Ltd. and 51 percent shares of Shell Gas Lanka Ltd. to acquire the controlling interest and now operate as Litro Gas Terminal Lanka (Pvt) Ltd. and Litro Gas Lanka Ltd. respectively, engaged in importation, storage, filling and distribution of LP gas in Sri Lanka and enjoys a 72 percent market share. The above Annual Report and Accounts submitted by H.E. the President, in his capacity as the Minister of Finance and Planning, was approved by the Cabinet to be presented in Parliament.