National Insurance Trust Fund

The National Insurance Trust Fund Board is primarily tasked with providing all government servants general insurance schemes. It is broken down into five divisions: the ‘Agrahara’ medical insurance scheme, the Strike, Riot, Civil Commotion and Terrorism Fund, Reinsurance, Motor Insurance, and General (Non Motor) insurance. The Agrahara medical insurance scheme involves hospital charge reimbursements, surgery related reimbursements as well as natural death covers. The Strike, Riot, Civil Commotion and Terrorism Fund was established to provide protection for general insurance policies issued in respect of those subjected to loss or damage to their property, setbacks to individual accidents, and bodily injuries occurring as a result of public strikes, civil commotion and terrorist activities in Sri Lanka. NITF’s Reinsurance segment has its primary objective as being an extension of support to all primary insurance companies operating in Sri Lanka while ultimately retaining foreign currency within the country. The motor division of the National Insurance Trust Fund provides comprehensive and third party insurance covers to government institutions and semi-government institutions at an affordable premium. NITF’s General Insurance (Non- Motor) business is subdivided into Fire, Marine, Medical, and Miscellaneous. NIFT was established by the National Insurance Trust Fund Act, No. 28 of 2006 and is headquartered in Colombo.