AIA Sri Lanka has continued to benefit from a clear strategy of targeting sustainable growth. Consolidated revenue increased by 2 per cent to Rs 3,268 million, with solid growth of 14 per cent in Gross Written Premium (GWP) amounting to Rs 2,949 million offset by lower investment income.
GWP from conventional life business, which is a key strategic focus, grew by 14 per cent to Rs 1,528 million and contributed 84 per cent of the overall life GWP.
Overall life GWP was Rs 1,817 million, up 4 per cent.General insurance GWP increased by 35 per cent to Rs 1,132 million, driven by strong growth in agency.
AIA Sri Lanka reported a consolidated loss after tax of Rs 2 million for the three months ended 31 March 2015, compared with consolidated profit after tax of Rs 78 million in the corresponding period in 2014.
It was mainly attributable to lower investment income and increase in claims in the general insurance business during the reporting period. The surplus of the life insurance business is reported annually at the year end.
AIA Sri Lanka CEO Shah Rouf said they are well positioned to capture the growth opportunities that exist as the economic development in Sri Lanka continues. “This quarter also saw us entering into a historic partnership with Sri Lanka Cricket as the official insurance partner for Sri Lanka Cricket which reiterates our commitment to connecting with and protecting what truly matters to Sri Lankans.”
www.dailynews.lk
GWP from conventional life business, which is a key strategic focus, grew by 14 per cent to Rs 1,528 million and contributed 84 per cent of the overall life GWP.
Overall life GWP was Rs 1,817 million, up 4 per cent.General insurance GWP increased by 35 per cent to Rs 1,132 million, driven by strong growth in agency.
AIA Sri Lanka reported a consolidated loss after tax of Rs 2 million for the three months ended 31 March 2015, compared with consolidated profit after tax of Rs 78 million in the corresponding period in 2014.
It was mainly attributable to lower investment income and increase in claims in the general insurance business during the reporting period. The surplus of the life insurance business is reported annually at the year end.
AIA Sri Lanka CEO Shah Rouf said they are well positioned to capture the growth opportunities that exist as the economic development in Sri Lanka continues. “This quarter also saw us entering into a historic partnership with Sri Lanka Cricket as the official insurance partner for Sri Lanka Cricket which reiterates our commitment to connecting with and protecting what truly matters to Sri Lankans.”
www.dailynews.lk
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