Insurance Corporation to be privatized?

The leading insurance company is now one of the leading profit companies of Sri Lanka Insurance Corporation. Divakara, a member of the Executive Committee of the Insurance Employees’ Union, said at a time when corona epidemics are spreading in the country, that management is splitting the insurance company and appeasing certain groups, and it is doubtful whether the underlying motive is to privatize the insurance company.

He also claimed that previous governments wanted to sell a benefit organization in the world, Insurance Corporation, to the private sector. However, all the company workers mobilized against it even then according to the Insurance Corporation, a productive organization in the world, the former government withdrawn the damage it sought to make. The insurance company was sold via an office. H. E. Wijedasa Rajapaksa, Advisory in this Resolution, H.E. Our workers and new members of Parliament; Minister VaĊĦudeva Nanayakkara;

But this time the plan is to destroy the institution in a completely different way. That is, since the establishment of the Sri Lanka Insurance Corporation by Act No. 02 of 1960, the two divisions of General Insurance and Life Insurance have been together, but the authority is now working to establish two separate entities. We’re against this. This is because it is a huge waste of money. Through this, a separate board of directors, a separate CEO and top management will establish a large number of new positions and take steps to bankrupt the highest paying Insurance Corporation.

Why are you trying to do this all of a sudden? Is this an attempt to cover up the rise of the workers by secretly trying to persuade the political authorities that there are no protests by the workers because they are not opposed to it?

We ask the government if it will be possible to pay more than Rs. 3 billion annually to the Treasury, excluding taxes, by destroying the financial strength of the institution in this way. Jayasundera said, ” the Insurance Corporation will never sell or distribute in this way,” said Divakara, a member of the Executive Committee.

We are skeptical that the existence of these two institutions paves the way for a program to outsource the general insurance sector to the private sector. We have seen the consequences of giving the security insurance withdrawn from the Insurance Corporation to a private company. In the end, due to the lack of proper management and accountability of these institutions, our Insurance Corporation had to assume the same responsibilities except for the payment of compensation to school-age children. We had the strength to do so because it was a government-owned institution. But if the underlying reason for dividing the Insurance Corporation is to privatize, it will be a disgrace to the employees and people of the country.

The insurance corporation hires almost 2,500 employees cumulatively. About 10,000 dealers are present. In behalf of all our employees, we, the employers’ union insurance, strongly condemn the decision-making authority’s reluctance to loaded their pockets with commissions that jeopardize all of the minority’s jobs. The president and the prime minister, the minist in charge and the minority leader addressed the issue in the future with His Excellency. Kavinda Chathuranga was also a member of the Executive Committee.

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