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International

Sri Lanka reinsures uninsured properties against natural calamities

May 23, 2016 Reprints

Sri Lanka's National Insurance Trust Fund has insured all the uninsured citizens and properties of the country by obtaining a catastrophic reinsurance cover of up to 10 billion Sri Lankan rupees ($68 million), reports Lanka Business Online.

The cover has been obtained through Bahrain-based Crescent Global Insurance Services W.L.L. and its Sri Lankan subsidiary Strategic Insurance Brokers (Pvt.) Ltd.

Under the reinsurance cover for 2016/17, the trust can settle claims up to LKR 2.5 million for any uninsured property that has been affected by a natural disaster.

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Sri Lanka reinsures uninsured properties against natural calamities

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