page_title: Nalaka Godahewa
section_title: Involving in a National Cause at Sri Lanka Insurance
hierarchical_section_title: Nalaka Godahewa / Involving in a National Cause at Sri Lanka Insurance
caption_attribution_description: English: Presidents Mahinda Rajapaksa's Visit to SLIC after Government Take Over
context_page_description: Nalaka Godahewa is a former Chairman of the Securities Exchange Commission of Sri Lanka. Godahewa's who was then chairman of Sri Lanka Tourism was appointed as SEC Chairman in mid 2012 after two of his predecessors, Indrani Sugathadasa and Thilak Karunaratne, had to resign within 12 months as a result of a stock market crisis during April 2011 to August 2012. According to Bloomberg statistics, within the first few weeks of Godahewa's appointment as SEC head, the market bounced back from world's worst performing stock market status to the third best performing stock market status. This prompted the business newspaper Daily FT to carry a headline "From Bust to Boom". In November 2012 Godahewa presented a three-year roadmap for capital market development in Sri Lanka. which was endorsed by key industry stakeholders as a timely, positive step in the right direction.
context_section_description: The year 2009 was a critical year for the insurance company Sri Lanka Insurance corporation. As a result of a Supreme court order the largest insurance company in the country was handed over from private sector to the Government. Customer confidence was falling rapidly and unions were gaining upper hand. This was the time financial institutions across borders were collapsing due to world financial crisis. A crisis at the Sri Lanka Insurance Cooperation would was triggered a chain reaction in Sri Lanka too. Godahewa was appointed as competent authority of Sri Lanka Insurance in June 2009 with the task of handling the company affairs. Subsequently, appointed as the managing Director of Sri Lanka Insurance, Godahewa, restructured the company within a very short period of time and posted some of the best financial results with the revenue growth of over 30%.
  He was instrumental in launching the new advertising campaign of Sri Lanka Insurance ‘Like Father Like Mother ( Piyekumen, Mawakemen)’ in 2009 highlighting the two core strengths of Sri Lanka insurance of having the government protection and private sector type service standards. He also rebranded life and motor insurance products of SLIC making both categories the fastest growing insurance brands in the market. During his tenure as Managing Director, Sri Lanka Insurance made several strategic investments which were also resulted in substantial unrealized capital gains to the company. These investments included buying controlling stakes of NDB Bank, Seylan Bank and Hatton National Bank. Under his leadership Sri Lanka Insurance made history in 2010 by declaring the highest ever bonus of Rs 3 Bn to the life insurance policy holders of SLIC. This helped increasing the brand credibility significantly.
caption: Presidents Mahinda Rajapaksa's Visit to SLIC in 2009 after the Government Take Over
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