ECONOMYNEXT – The Insurance Regulatory Commission of Sri Lanka has suspended the registration granted to Sanasa Life Insurance Co PLC to carry on long-term insurance businesses, the company said in a stock exchange filing. The reasons for the suspension are: – Conducting business in a manner which could be detrimental to the interest of the policy holders/insurance industry and national interest. – Not being able to meet the solvency margin specified by the regulator. – Has failed to follow the provisions of the Regulation of Insurance Industry Act and the order s/rules and conditions made by the regulator under the…
Sri Lanka regulator suspends Sanasa Life Insurance
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