Sanasa Life records strong performance in second quarter
Sanasa Life Insurance (SLICL) has showed resilience and agility in adopting to the new normal while managing to post a healthy operational and financial performance, whilst achieving a record 235.1 percent Year-on-year (YOY) in Gross Written Premiums (GWP) to reach Rs. 719.9million in the year 2021.
The company’s total asset portfolio reached Rs.2, 673.8 million against the Rs.2, 307.3 million reported on the Year end 2020. Operation surplus transferred to life fund at the end of second quarter was Rs.256.6 million.
Since the beginning of the pandemic, SLICL launched several initiatives to support its key stakeholders including its vulnerable policyholders who were hit-hard by the impacts of the pandemic by introducing a project to waive off the lapsed premiums of more than 21,000 policy holders.
Commenting on the achievements, Sanasa Life Insurance CEO, Indika Kiriwandeniya said, “As a company working for the welfare of the rural people, we have worked for the benefit of all our stakeholders, even in the midst of COVID-19 pandemic.
We believe that all our accomplishments and achievements are results of what we do to enhance the lives of those people. We will continue to take our business to people with different financial means and I believe in my team for a better future ahead.”
As per the insurance industry statistics for the second quarter of2021, SLICL has showed a dramatic growth despite the adverse effects of the pandemic.
Sanasa Life Insurance Chief Business Officer, Ivan Nicholas stated that, “SLICL has been able to climb up the ladder from 14th place to 11th Place in terms of share of Gross Written Premium (GWP). We were able to be established as a growing player in the industry in the past year. My heartfelt thanks go to my Sales and Non Sales team, and also I would like to express my gratitude to the Chairman and the CEO for their strategic leadership.”