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* A new Competent Authority for Sri Lanka Insurance Corporation
Wed, Jun 10, 2009, 10:58 pm SL Time, ColomboPage News Desk, Sri Lanka.

June 10, Colombo: Former Chief Executive Officer of Sri Lanka Insurance Corporation (SLIC) Dr. Nalaka Godahewa has been appointed as the Competent Authority of SLIC.

According to the Finance Ministry new Competent Authority of SLIC is to assume duties tomorrow.

Sri Lanka Supreme Court ordered the Treasury Secretary to take over the management and control of the SLIC and to appoint a new board of directors in two weeks time on June 05th after it annulled the privatization of the Sri Lanka Insurance Corporation.

Supreme Court further ordered that the shares be reverted back to the Treasury Secretary.

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