Allianz Lanka 3Q 2007 profits sharply up

Allianz Lanka continued its strong upward growth trend into the 3rd Quarter 2007, generating a pre-tax profit of Rs 25.6 million in the first nine months of the current year, up sharply by 174 percent from Rs 9.3 million in 2006 comparable period.

The company said its Gross Written Premium also reached a record Rs 324 million during this period, up 44% over last year’s Rs 226.2 million.

Commenting on the results, CEO Allianz Lanka Mrs Surekha Alles said, “We are, understandably, very satisfied with our performance. Our progress this year has been substantial.”

Allianz Insurance Lanka Company, the fully owned subsidiary of German insurance giant Allianz SE and the latest addition to its worldwide network, is to celebrate its third successful year in Sri Lanka shortly and will soon relocate to spacious modern premises in a central location.