ISSN: 1391 - 0531
Sunday, March 11, 2007
Vol. 41 - No 41
Financial Times  

300% growth in second year for Allianz Lanka

Allianz Insurance Company Lanka Ltd has continued its steady growth path into the second year of operation, showing a turnover of Rs. 300.9 million inclusive of a phenomenal YOY (year-on-year) growth of 300%.

The company said it made underwriting profits with a net profit after tax of Rs.12.8 million. “Despite having been a very challenging year, we have had a strong growth performance. Our shareholders are very happy that we have exceeded all key targets. This will further consolidate our position in Sri Lanka,” noted Surekha Alles, CEO Allianz Insurance.

Besides being a large industrial insurer, Allianz also has a substantial portfolio in the commercial and personal lines sector, and uses a wide variety of innovative distribution channels. Allianz Lanka’s greatest strength lies in the financial backing, expertise and innovation of Fortune 500 conglomerate Allianz SE, which has a global presence of 116 years in General Insurance.

“We are privileged to use this global business knowledge, adapted to local business needs in our Sri Lankan operations. Allianz Global gives us easy access to their vast knowledge whilst at the same time, giving us a free hand to develop products and market here,” Alles was quoted as saying in a media statement.


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Copyright 2007 Wijeya Newspapers Ltd.Colombo. Sri Lanka.