The impressive result comes about on the back of Life premiums growth of 21% for the period at Rs. 2.2 billion, with the absolute increase of Rs. 374 million being amongst the highest in the industry, and is coupled with an exceptional result achieved on the investment portfolio of the company. The result also takes into account 1Q Life performance of the company, whilst the 2Q and 3Q Life results will be reflected at year end based on the full period performance.
Total premiums for the first nine months of the year were Rs. 3.4 billion with General Insurance premiums at Rs. 1.3 billion and profits after tax were Rs. 511 million for Life business and Rs. 21 million for the General insurance business. The first nine months performanceof the company stands out from the rest of the industry that saw overall growth rates of 8% for Life and 2% for General.
Asian Alliance’s strong performance is the result of a strategic vision which leverages on the valuable synergies of the Softlogic Group to re-affirm the company’s journey towards being a leading player in the industry. The company has charted an ambitious blueprint for growth, buoyed by the optimistic outlook for the insurance industry as a whole and also inspired by the key performance indicators of a fast paced Sri Lankan economy.
AAI Life that is currently ranked fifth in the market provides its customers with a level of service and attention that is unmatched in the industry where the focus remains undivided and is always aimed at providing the best protection plans that are perfectly customised to meet specific requirements of a diverse clientele.
The General Insurance Business is coming back strongly with novel concepts and innovation that is completely oriented towards customer convenience, with the new Drive Thru concept and 365 Day Insurance that will primarily target motor customers. The health business of the company has also improved tremendously and is currently ranked No. 4 in the industry.
The shareholders of AAI include DEG and FMO that are internationally reputed AAA DFI institutions. The company operates through a network of 54 locations that are positioned in all provinces of the country and is part of the fast growing Softlogic Group that has interests in healthcare, retail, financial services, ICT, leisure, automobiles and restaurants.
www.ft.lk
» CCS.N0000 ( Ceylon Cold Stores)
» Sri Lanka plans to allow tourists from August, no mandatory quarantine
» When Will It Be Safe To Invest In The Stock Market Again?
» Dividend Announcements
» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්රතික්ෂේප කළ ගණිතඥයා
» SEYB.N0000 (Seylan Bank PLC)
» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
» The Korean Way !
» In the Meantime Within Our Shores!
» What is Known as Dementia?
» SRI LANKA TELECOM PLC (SLTL.N0000)
» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
» Equinox ( වසන්ත විෂුවය ) !
» COMB.N0000 (Commercial Bank of Ceylon PLC)
» REXP.N0000 (Richard Pieris Exports PLC)
» RICH.N0000 (Richard Pieris and Company PLC)
» Do You Have Computer Vision Syndrome?
» LAXAPANA BATTERIES PLC (LITE.N0000)
» What a Bank Run ?
» 104 Technical trading experiments by HUNTER
» GLAS.N0000 (Piramal Glass Ceylon PLC)
» Cboe Volatility Index
» AHPL.N0000
» TJL.N0000 (Tee Jey Lanka PLC.)
» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
» Bitcoin and Cryptocurrency
» CSD.N0000 (Seylan Developments PLC)
» PLC.N0000 (People's Leasing and Finance PLC)
» Bakery Products ?
» NTB.N0000 (Nations Trust Bank PLC)
» Going South
» When Seagulls Follow the Trawler
» Re-activating
» අපි තමයි හොඳටම කරේ !
» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
» SAMP.N0000 (Sampath Bank PLC)
» APLA.N0000 (ACL Plastics PLC)
» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
» Banks, Finance & Insurance Sector Chart
» VPEL.N0000 (Vallibel Power Erathna PLC)
» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
» WATA - Watawala
» KFP.N0000(Keels Food Products PLC)
» Capital Trust Broker in difficulty?
» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
» What Industry Would You Choose to Focus?
» Should I Stick Around, or Should I Follow Others' Lead?