Allianz Lanka turns profitable from losses

Alliance Insurance Company Lanka Ltd has seen a turnaround in its performance – reporting a post tax profit of Rs 10.76 million for the first quarter this year against a loss of Rs 84 million in the same year.

The company, a subsidiary of Munich-based multinational insurance giant Allianz, said its strong performance was due to increased customer portfolio, since more and more key corporate players entrusted Allianz Lanka with their insurance needs.

“We are very proud of the fact that our customer portfolio is increasing, mainly as a result of word-of-mouth recommendations by satisfied customers,” explained Allianz Lanka CEO Surekha Alles.