Asian Alliance Insurance PLC (AAI) which is part of the Softlogic Group, further consolidated its industry position by recording strong financial performance for the first Quarter of FY2014 ending March 31, 2014. AAI achieved Rs. 1.146 Billion in Gross Written Premium (GWP) for the quarter in addition to posting an exceptional year on year growth of 19% compared to the previous period.
Life business grew by as much as 23% against an industry average of 10.15% whilst the General Insurance Division recorded a GWP growth of 12% for the first Quarter against negative industry growth of -0.45%.
The Company recorded a Net Profit before Tax of Rs. 255.2 Million for the first Quarter boosted by a strong performance in Life business where profits were determined based on actuarial assessment, that was complimented with exceptional investment portfolio gains during the quarter, in a scenario where both its fixed income and equity portfolios outperformed respective benchmarks by a significant margin.
Asian Alliance Insurance has charted an ambitious blueprint for growth, buoyed by the optimistic outlook for the insurance industry as a whole and also inspired by the key performance indicators of a fast paced Sri Lankan economy.
AAI’s strong performance is the result of a strategic vision which leverages on the valuable synergies of the Softlogic Group to re-affirm the company's journey towards being a leading player in the industry. AAI Life customers enjoy a level of service and attention that is unmatched in the industry where the focus remains undivided and is always aimed at providing the best protection plans that are perfectly customized to meet specific requirements of a diverse clientele.
www.dailynews.lk
Life business grew by as much as 23% against an industry average of 10.15% whilst the General Insurance Division recorded a GWP growth of 12% for the first Quarter against negative industry growth of -0.45%.
The Company recorded a Net Profit before Tax of Rs. 255.2 Million for the first Quarter boosted by a strong performance in Life business where profits were determined based on actuarial assessment, that was complimented with exceptional investment portfolio gains during the quarter, in a scenario where both its fixed income and equity portfolios outperformed respective benchmarks by a significant margin.
Asian Alliance Insurance has charted an ambitious blueprint for growth, buoyed by the optimistic outlook for the insurance industry as a whole and also inspired by the key performance indicators of a fast paced Sri Lankan economy.
AAI’s strong performance is the result of a strategic vision which leverages on the valuable synergies of the Softlogic Group to re-affirm the company's journey towards being a leading player in the industry. AAI Life customers enjoy a level of service and attention that is unmatched in the industry where the focus remains undivided and is always aimed at providing the best protection plans that are perfectly customized to meet specific requirements of a diverse clientele.
www.dailynews.lk
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