The governance of Sri Lanka Insurance, which is owned by the government through court order, is still being handled by the senior officials as per the will of its former owner Harry Jayawardena, driving the current Chairman and the Board of Directors into inconvenience, sources said.
As of the present, Sri Lanka Insurance is being governed as per the will of several figures including Suresh Paranawithana, Chandana Aluthgama, Mahendra Silva and Indunil Nawaratne, who happen to be close associates to Jayawardena, according to sources.
In the circumstance that Sri Lanka Insurance's computer system is owned by Bon Vantage company belonged to Jayawardena, Nontinental Insurance, another company owned by Jayawardena, and HNB Assurance, in which shares are owned by Jayawardena, are able to monitor every classified information involving business plans of Sri Lanka Insurance, further disclosed by sources.
Avoiding the Supreme Court verdict handing over Sri Lanka Insurance to the government and barring the former owners from operating it, these companies have been continuing business for years.
As of now, Sri Lanka Insurance has been subject to mass corruption and fraud, in which some of the top officials are said to be involved as well.