AIA Insurance Lanka PLC recorded a consolidated profit after tax of Rs 189 million for the nine months ended September 30, 2017.
Pankaj Banerjee, Chief Executive Officer of AIA Sri Lanka, said: “AIA Sri Lanka has delivered a solid set of results for the third quarter of 2017. “It is worth noting that AIA Sri Lanka continued to deliver on our key strategic initiatives against the backdrop of slower economic growthduring the third quarter of 2017. We remain optimistic of the long-term growth prospects of our life insurance business in Sri Lanka.”
William Lisle, Chairman of AIA Sri Lanka, said: “We continue to believe that with our focus on delivering profitable growth and sustainable progress through an enhanced product portfolio and extended distribution reach, AIA Sri Lanka is well on course to becoming the preeminent life insurer in Sri Lanka.”
The Company recorded a consolidated revenue of Rs 12,673 million, an increase of 17%, from Rs 10,794 million reported over the same period in 2016. This growth was mainly driven by the increase in the gross written premium (GWP) of Conventional Life business.
Gross written premium of Life insurance business increased by 13 per cent to Rs 8,415 million, from Rs 7,425 million reported over the same period in 2016. This was attributed to the improvement in persistency.
Gross written premium of Conventional Life business increased by 15 per cent to Rs 7,709 million, from Rs 6,720 million reported over the same period in 2016. Investment income rose by 10 per cent to Rs 3,875 million, benefitting from the interest rate hike and attractive yield locking.
www.dailynews.lk
Pankaj Banerjee, Chief Executive Officer of AIA Sri Lanka, said: “AIA Sri Lanka has delivered a solid set of results for the third quarter of 2017. “It is worth noting that AIA Sri Lanka continued to deliver on our key strategic initiatives against the backdrop of slower economic growthduring the third quarter of 2017. We remain optimistic of the long-term growth prospects of our life insurance business in Sri Lanka.”
William Lisle, Chairman of AIA Sri Lanka, said: “We continue to believe that with our focus on delivering profitable growth and sustainable progress through an enhanced product portfolio and extended distribution reach, AIA Sri Lanka is well on course to becoming the preeminent life insurer in Sri Lanka.”
The Company recorded a consolidated revenue of Rs 12,673 million, an increase of 17%, from Rs 10,794 million reported over the same period in 2016. This growth was mainly driven by the increase in the gross written premium (GWP) of Conventional Life business.
Gross written premium of Life insurance business increased by 13 per cent to Rs 8,415 million, from Rs 7,425 million reported over the same period in 2016. This was attributed to the improvement in persistency.
Gross written premium of Conventional Life business increased by 15 per cent to Rs 7,709 million, from Rs 6,720 million reported over the same period in 2016. Investment income rose by 10 per cent to Rs 3,875 million, benefitting from the interest rate hike and attractive yield locking.
www.dailynews.lk
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