AIA Sri Lanka reports improved revenue growth in Q1
View(s):Consolidated revenue in the life insurance business of AIA Insurance Lanka PLC rose by 24 per cent to Rs. 3,968 million in the 3-months ending March 2017 against the same 2016 quarter.
The rise was driven by the increase in conventional life business Gross Written Premium (GWP) as well as growth in investment and other income, the company said in a media release.
It said GWP of the life insurance business grew by 11 per cent to Rs. 2,631 million with the growth supported by a further improvement in premium persistency.
Investment income increased 15 per cent to Rs. 1,273 million due to an increase in interest rates and attractive yield lock-ins.
Pankaj Banerjee Chief Executive Officer of AIA Sri Lanka said: “AIA Sri Lanka had a good start in 2017 by achieving a solid growth in GWP in the first quarter. We continued to stay focused on meeting customer needs through improving our product propositions, as well as expanding distribution reach and productivity of both our agency and Bancassurance channels, providing a strong platform for growth”.