Allianz Insurance Lanka continues impressive performance in 3Q2018

Allianz Insurance Lanka Ltd said its “remarkable performance” continued posting a record gross written premium of Rs. 13.6 billion with a YoY growth of 6 per cent at the end of the third quarter 2018.

The company’s continuous commitment to growth was further boosted with an impressive profit before tax of Rs. 1.2 billion.

“Despite the heavy competition among all players in the insurance industry, Allianz Insurance Lanka Ltd continued to retain as the second largest player in the market even at the end of third quarter with a market share of 19 per cent. This was despite our focus and concentration on integrating the two companies during the last quarter,” the company said in a media release.

Commenting on the latest performance8, Managing Director of Allianz Insurance Lanka Ltd, Ms. Surekha Alles, said, “As a norm sluggish growth could be expected at a time of integration. However, we are happy with the growth that we have achieved amidst many obstacles and we are confident that we will bounce back strongly to end the year with a sustainable growth demonstrating our strength in the market.”

She further stated: “In order to continue providing enduring benefits to our customers, we are pursuing an innovation-led growth strategy combined with digitalization of processes ensuring that our solutions are aligned to the changing needs of our customers and providing greater convenience to all.”

Allianz Lanka recently announced the successful completion of the amalgamation and has several new plans to restructure the company in order to maximize the benefits offered.