AIA Insurance Lanka PLC announced financial results of the company and its subsidiaries for the three months ended March 31,2016.
Gross Written Premium (GWP) of life insurance business, grew by 31 per cent to Rs 2,372 million. The outstanding growth was supported by a strong increase in both premium persistency and a change in premium mode mix which saw an increase in annual premium collection.
Investment income increased 25 per cent to Rs 1,107 million due to increase in interest rates.
Consolidated Revenue of the life insurance business increased 23 per cent to Rs 3,215 million compared to the same period in the previous year. Profit after tax increased 135 per cent to Rs 87 million.
AIA Sri Lanka CEO Shah Rouf said AIA Sri Lanka had a strong start in 2016 by achieving a significant growth in GWP in the first quarter. “We continued to stay focused on meeting customer needs through improving our product portfolio, distribution reach and capabilities of both our Agency and Bancassurance channels providing a strong platform for growth.”
Gross Written Premium (GWP) of life insurance business, grew by 31 per cent to Rs 2,372 million. The outstanding growth was supported by a strong increase in both premium persistency and a change in premium mode mix which saw an increase in annual premium collection.
Investment income increased 25 per cent to Rs 1,107 million due to increase in interest rates.
Consolidated Revenue of the life insurance business increased 23 per cent to Rs 3,215 million compared to the same period in the previous year. Profit after tax increased 135 per cent to Rs 87 million.
AIA Sri Lanka CEO Shah Rouf said AIA Sri Lanka had a strong start in 2016 by achieving a significant growth in GWP in the first quarter. “We continued to stay focused on meeting customer needs through improving our product portfolio, distribution reach and capabilities of both our Agency and Bancassurance channels providing a strong platform for growth.”
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