SL Insurance: Over Rs. 23 bln in GW premiums in 3Q’17
View(s):Sri Lanka Insurance, (SLI) the country’s largest insurer, has secured over Rs. 23 billion in Gross Written Premium (GWP) while reporting a post-tax profit of Rs. 9.5 billion for the last quarter ending September 2017.
In a media statement, SLI Chairman Hemaka Amarasuriya said both Life and General Insurance contributed to this sound performance of the company with the Life Insurance sector reporting Rs. 8 billion as post-tax profit while the General sector reported Rs. 1.5 billion in post-tax profit.
The company says it leads the General Insurance sector with a 21.4 per cent market share while coming second in the Life sector.
“The company stood in the forefront when it comes to honouring claims to its policyholders. Claims worth Rs. 4.8 billion were paid to Life policyholders during the period under review while Rs. 6.6 million was paid as claims to General policyholders,” the statement said.
SLI’s assets base, which is the largest in the local insurance industry, continued to grow during the period under review, recording Rs. 187 billion of which Rs. 118 billion was from Life Insurance and Rs. 68 billion from General Insurance. Mr. Amarasuriya said the company also has the largest Life Fund in the industry at Rs. 99 billion.