Head of Sri Lanka Insurance Board, Indrani Sugathadasa is being paid a monthly bribe of Rs. 5 million by Ceylinco Insurance Company, a senior company executive said.

The executive said that Ceylinco Insurance made this monthly payment in order to prevent any action being taken against the irregularities and improper administration methods practiced by the company.

The official further noted that his company had been making this monthly payment to successive heads of the Insurance Board and that the same facility is now being extended to Sugathadasa. He noted that these payment shave been made either monthly or lump sum payment has been made and that he was in possession of relevant documents to prove the transactions.

Sugathadasa was appointed as the head of Sri Lanka Insurance Board after the President removed her as the head of the Securities and Exchange Commission. Sources from the Board said that the current position held by Sugathadasa was less prominent and therefore new avenues are being looked at to earn some extra money.