Category: Business & Economy
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Sri Lankan insurers’ cyclone losses limited, but weaknesses persist: Fitch
Fitch Ratings has indicated that insurance losses resulting from the recent flooding caused by Cyclone Ditwah are likely to be limited for most rated insurers in Sri Lanka. This outlook is attributed to low retention levels within the non-motor segment and the presence of robust reinsurance protection. However, the country’s sole local reinsurer, National Insurance