Insurance sector records 24,549 claims worth Rs. 58.5bn, pays out Rs. 5.1bn

As at January 19, 2026, Sri Lanka’s insurance sector has recorded a total of 24,549 claims, with the estimated value of losses reported to the industry reaching approximately Rs. 58.5 billion, highlighting the significant financial impact of Cyclone Ditwah.

The industry has so far disbursed Rs. 5.1 billion in financial relief to affected policyholders, reflecting its commitment to timely recovery and financial stability. The non-motor segment accounts for the larger share of the payout value, amounting to Rs. 4 billion, due to the higher severity and complexity of property and commercial losses.

While motor insurance dominates claim volumes, non-motor claims represent the greater share of the overall financial exposure.

The Insurance Regulatory Commission of Sri Lanka (IRCSL) has intensified its national response to ensure the expeditious settlement of insurance claims following the disaster. Working closely with all 14 licensed general insurers, the IRCSL has established a unified mechanism to accelerate financial relief for affected families, households, businesses, and property owners.

As part of this expedited process, insurers have formally validated and admitted liability for a substantial proportion of reported claims. To date, 18,434 claims—representing 75.09% of total claims received—have been admitted.

This includes 12,725 motor claims admitted out of 16,054 received, reflecting an admission rate of 79.26%, and 5,709 non-motor claims admitted out of 8,495 received, corresponding to an admission rate of 67.20%.

The IRCSL has directed all licensed general insurance companies to further expedite the assessment and settlement of remaining claims, in order to support national recovery efforts and ensure timely relief to affected individuals and businesses.