Allianz Insurance Lanka Limited continues its remarkable performance post the amalgamation to record a gross written premium of LKR 13.6 billion with a YoY growth of 6% at the end of the third quarter 2018.
The Company’s continuous commitment to growth was further boosted with an impressive profit before tax of LKR 1.2 billion. Despite the heavy competition among all players in the insurance industry, Allianz Insurance Lanka continued to retain as the second largest player in the market even at the end of third quarter with a market share of 19%.
This was despite our focus and concentration on integrating the two companies during the last quarter.
Managing Director of Allianz Insurance Lanka Limited, Surekha Alles, said, “As a norm a sluggish growth could be expected at a time of integration. However, we are happy with the growth that we have achieved amidst many obstacles and we are confident that we will bounce back strongly to end the year with a sustainable growth demonstrating our strength in the market.”
She further stated that, “Since its inception in 2005, Allianz Insurance Lanka Limited has always recorded strong growth and maintained its profitability by focusing on our business sustainability with our customers at the heart of everything we do.”
Allianz Lanka recently announced the successful completion of the amalgamation and has several new plans to restructure the company in order to maximize the benefits offered. The parent company Allianz SE recently released its nine months earnings for the year which demonstrated the financial strengths the Company possesses. The total revenues of Allianz Group increased by 7.9% to 30.5 billion Euros and the operating profit grew 20.6% to 3.0 billion Euros. The Allianz Group is one of the world’s leading insurers and asset managers with more than 88 million retail and corporate customers.
The Company’s continuous commitment to growth was further boosted with an impressive profit before tax of LKR 1.2 billion. Despite the heavy competition among all players in the insurance industry, Allianz Insurance Lanka continued to retain as the second largest player in the market even at the end of third quarter with a market share of 19%.
This was despite our focus and concentration on integrating the two companies during the last quarter.
Managing Director of Allianz Insurance Lanka Limited, Surekha Alles, said, “As a norm a sluggish growth could be expected at a time of integration. However, we are happy with the growth that we have achieved amidst many obstacles and we are confident that we will bounce back strongly to end the year with a sustainable growth demonstrating our strength in the market.”
She further stated that, “Since its inception in 2005, Allianz Insurance Lanka Limited has always recorded strong growth and maintained its profitability by focusing on our business sustainability with our customers at the heart of everything we do.”
Allianz Lanka recently announced the successful completion of the amalgamation and has several new plans to restructure the company in order to maximize the benefits offered. The parent company Allianz SE recently released its nine months earnings for the year which demonstrated the financial strengths the Company possesses. The total revenues of Allianz Group increased by 7.9% to 30.5 billion Euros and the operating profit grew 20.6% to 3.0 billion Euros. The Allianz Group is one of the world’s leading insurers and asset managers with more than 88 million retail and corporate customers.
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