Insurers gearing up for CSE listing to meet Jan 2016 deadline

14 October 2015 04:28 am - 0 - {{hitsCtrl.values.hits}}

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As the insurance industry heads for the January 2016 deadline for mandated listing on the Colombo Stock Exchange, many insurers are gearing up getting themselves listed on the Colombo Stock Exchange.

According to Section 52 of the Regulation of Insurance Industry (Amendment) Act No.03 of 2011, all insurance companies are required to list themselves on the stock exchange by January 2016.

Meanwhile, Section 53 of the Act stipulates that general and life insurance businesses of any single entity must be separated.

This would lead to a majority of the currently listed insurers listing at least another entity while maintaining one of the businesses under the currently listed entity, or creating two brand new entities with IPOs.

Some of the other unlisted insurers include LOLC Insurance, Continental Insurance and People’s Insurance.
The Colombo Stock Exchange recently introduced a book building rule and a valuations rule to make initial public offerings more transparent and investor-friendly.

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Insurers gearing up for CSE listing to meet Jan 2016 deadline

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