AIA Sri Lanka half year results shows growth
View(s):AIA Insurance Lanka PLC (AIA) announcing its first half 2015 year results this week said consolidated revenue was up 5 per cent to Rs. 7,105 million with the increase due to “higher net earned premiums in both life and general insurance businesses”. It said in a media release that composite gross written premium (GWP) income grew by 18 per cent to Rs. 5,844 million while GWP of conventional life products grew 21 per cent to Rs. 3,314 million, accounting for 86 per cent of the overall life GWP.
Consolidated profit after tax amounted to Rs. 72 million, down from Rs. 146 million in the earlier corresponding period, the company announcement noted. The lower profit was mainly attributable to reduced investment income driven by lower interest rates and an increase in claims in the general insurance business.
Shah Rouf, Chief Executive Officer of AIA Sri Lanka, said: “AIA Sri Lanka delivered a solid performance with 18 per cent increase in our overall combined GWP compared with the first half of 2014 and will build on this growth momentum in the second half.”