Jagath Alwis Director (Technical) of Ceylinco Insurance PLC recently presented a paper on "Tsunami - Sri Lankan Experience" at the International Insurance Conference on "Catastrophe Events’ - A Challenge held in Karachi, Pakistan. The Conference, organized by the Pakistan Insurance Institute (PII), was the second international insurance event to be organized by the PII.
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| Jagath Alwis |
Held at the Sheraton Hotel in Karachi, it was attended by over 400 insurance professionals representing countries such as India, Pakistan, Nepal, Bahrain, Mauritius, Singapore, Malaysia, United Arab Emirates, United Kingdom, Turkey, Switzerland and USA, according to Ceylinco Insurance.
In his paper, Mr. Alwis presented a detailed description of the magnitude and the devastation caused by the tsunami in Sri Lanka in 2004. The impact of the tsunami and the losses incurred and the manner in which the Sri Lankan insurers handled the compensation process were shared by him.
His paper also highlighted the post tsunami actions initiated by the insurance industry and the Sri Lankan Government to mitigate the impact of future natural catastrophes on the industry and the economy. He also stressed the importance of natural catastrophic risk modelling and the appropriate reinsurance protection to be taken by insurers operating in any market to face challenges of the increasing Natcat events, with minimum impact on shareholders' funds.
Mr Alwis is presently the Director (Technical)/Chief Technical Officer of Ceylinco Insurance PLC. He is also a Past President of the Insurance Association of Sri Lanka and the Vice President of the Ceylon Society for Prevention of Accidents. (CesPA) |
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