Razik Zarook PC re-appointed as Insurance Regulatory Commission Chairman

President's Counsel, Razik Zarook assumes duties

• Brian Selvanayagam and Sanjeewa Anthony join as new Commissioners

Razik Zarook PC was reappointed as the Chairman of the Insurance Regulatory Commission of Sri Lanka (IRCSL) and assumed duties yesterday.

Zarook has served as the Chairman of IRCSL since January 2020 and has played a key role in strengthening the regulatory framework for the insurance sector.

Zarook PC, former Chairman of a number of Public Corporations, is a senior Attorney at Law in active practice. He was Chairman of the Bank of Ceylon, Cooperative Wholesale Establishment, the Agricultural Development Authority, and of the National Aquatic Research and Development Authority (NARA). He served in the diplomatic service as Ambassador to the then Federal Republic of Yugoslavia and thereafter as the first Ambassador to Hungary. Subsequently, he was appointed as Sri Lanka’s High Commissioner to Singapore.

The other newly appointed Commission Members are Brian Selvanayagam, an experienced auditor, banker, financial specialist, and Sanjeewa Anthony, an experienced lawyer in the field of Criminal, Civil and Commercial Law.

Selvanayagam is an Associate Member of the Chartered Institute of Management Accountants (UK), Fellow Member of the Institute of Chartered Accountants of Sri Lanka, Fellow Member of the Chartered Institute of Marketing (UK), and Fellow Member of the Certified Management Accountants of Sri Lanka and Chartered Member of the Chartered Institute for Securities and Investment. (UK).  He is the Past Chairman of the Chartered Institute of Marketing Sri Lanka and was a member of the Audit and Risk Committee of the Chartered Institute of Marketing (UK)   He is presently an Independent Non-Executive Director of Galle Face Capital Partners PLC, Renuka Agri Foods PLC, Renuka Foods PLC and a Director of Loops Creative Ltd.

Anthony, Attorney at Law, is an active practitioner and has experience of over 25 years in the field of Criminal, Civil and Commercial Law. He is also the former President of the Chief Magistrate Courts Lawyers Association in Colombo.

The Ex-Officio Members of the Commission, Finance Ministry Deputy Secretary to the Treasury A.K. Seneviratne, Central Bank Deputy Governor Yvette Fernando and Registrar General of Companies Sanjeewa Dissanayake continue as Commission Members.