Sri Lanka Insurance Life (SLICLL) has once again set an industry benchmark by declaring an unprecedented Rs. 12.5 billion bonus to its policyholders for the year 2024, the highest annual Life Insurance bonus in the life insurance industry.
This declaration brings the cumulative bonus paid to policyholders since 2006 to Rs. 116.6 billion, the company said in a media release.
In a year marked by evolving economic dynamics, the company’s asset base grew to Rs.238.6 billion, while it continues to maintain the largest Life Insurance fund in the industry at Rs. 213.2 billion. On average, over Rs. 1 billion in maturity and claims are settled monthly, totalling approximately Rs. 12.9 Billion annually in addition to the annual bonus.
Despite various challenges, the company delivered exceptional financial results in 2024, recording a Profit Before Tax of Rs. 30.7 billion. The Gross Written Premium (GWP) rose to Rs. 26.3 billion, an impressive 25 per cent year-on-year growth, while new business premiums surged by 48 per cent to Rs. 5.3 billion the highest in the company’s history.
“Going beyond insurance, SLIC Life constantly strives to add meaningful value to its customers. The enhanced Life Loyalty Rewards programme ensures long-term policyholders enjoy a host of exclusive benefits and discounts throughout their policy journey. The company also continues to push boundaries in digital transformation, investing in advanced technology platforms to simplify insurance access, enhance customer convenience, and deliver superior service experiences,” the statement said.
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