LOLC Life Assurance, SL’s fastest growing life insurer in 2024

Mrs. Nadika Opatha                                                                       

Mr. Jayantha Kalinga

LOLC Life Assurance has achieved a record-breaking milestone in 2024, surpassing Rs. 8 Billion Gross Written Premiums (GWP) and achieving the highest growth rate in the industry at 46 per cent.

“This remarkable achievement reflects the company’s commitment to sustained market growth and strengthened industry presence over the years,” the company said in a media release.

This milestone reflects LOLC Life Assurance’s dedication to placing customers at the core of its operations, driving innovation and implementing a strategic approach to effective risk management. The recent introduction of Health Maxx, a comprehensive health insurance plan offering up to Rs. 100 million in worldwide medical coverage, has further strengthened LOLC Life Assurance’s position as an industry leader. In addition to its comprehensive life insurance portfolio, significant investments in advanced digital technology have enabled the company to streamline processes, minimise paperwork, and introduce hassle-free claim services. These enhancements have elevated customer convenience and reinforced the company’s competitive advantage as a pioneer in innovation.

Commenting on this achievement, Ms. Nadika Opatha, Director/CEO of LOLC Life Assurance, said, "I am immensely proud of the outstanding performance of LOLC Life Assurance in 2024, which has firmly established our leadership in the industry as the fastest growing life insurer. Surpassing Rs. 8 billion in GWP highlights the strength of our vision and the collective dedication of our team, as well as the trust our policyholders have placed in us over the years. We are committed to building on this momentum and delivering even greater value to our stakeholders.”

Jayantha Kalinga, Chief Operating Officer of LOLC Life Assurance, added, "At LOLC Life Assurance, we believe that growth is a reflection of the value we consistently deliver to our customers. As we continue to evolve, we are focused on expanding our offerings, embracing digital transformation and further strengthening our position as a trusted life insurance provider Sri Lanka.”