Browsing by Author "Muanasinghe, G.W.G.I.W."

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    Recognition of Commission on Insurance between Insurance Agent and Insurance Brokerage Company
    (Department of Accountancy, University of Kelaniya, 2016) Muanasinghe, G.W.G.I.W.; Rajapakse, R.M.D.A.P.
    AF Company is a public limited company incorporated and domiciled in Sri Lanka under the Companies Act No.07 of 2007 and classified under banking & finance industry by Colombo Stock Exchange. During the financial year 2014/15 AF PLC become a parent company of “A Insurance Brokerage Company” by acquiring their associate company as a subsidiary. The company provided a vast range of financial services which included accepting deposits, leasing, hire purchase, loan facilities, pawn brokering and other financial services. This issue is relating to the violation of Insurance Act No 3 of 2011 section 88 that given a maximum rate of commission that might be paid by an Insurance broker to an insurance agent.