Insurance Regulatory Commission of Sri Lanka

The Insurance Regulatory Commission of Sri Lanka (IRCSL) is established in terms of provisions of the Regulation of Insurance Industry Act, No. 43 of 2000 with effect from March 01, 2001. The object and responsibility of the IRCSL is to ensure that insurance business in Sri Lanka is carried on with integrity and in a professional and prudent manner with a view to safeguarding the interests of the policyholders and potential policyholders. The IRCSL safeguards policyholders through supervisory control of the Insurance Industry. The IRCSL advises the government on policy and laws that would make the industry remain viable, able to meet its commitments to policyholders by helping them overcome risks. Vision To be the benchmark Insurance Regulator in South Asia Mission To protect policyholders interests as per the Regulation of Insurance Industry Act, and facilitating the development of the insurance industry