IIRM Lanka Insurance Brokers achieves impressive market share growth

Thursday, 21 September 2023 02:58 - - {{hitsCtrl.values.hits}}

IIRM Lanka Insurance Brokers Ltd. has announced its outstanding achievement in Sri Lanka’s insurance market, securing an impressive market share in both the long-term and general insurance segments.

IIRM Lanka Insurance Brokers commands a market share of 21.13% in the Long-term Insurance sector and 6.34% in the General Insurance Business, amounting to an overall market share of 7.79%, equivalent to a staggering Rs. 3,182,976,000 as per the newly released Statistical Review 2022 report by Insurance Regulatory Commission Sri Lanka. These figures were released by the Insurance Regulatory Commission in September 2023.

IIRM Lanka Insurance Brokers, a leading player in Sri Lanka’s insurance broking industry, has consistently demonstrated a commitment to excellence and innovation. This remarkable market share growth is a testament to the company’s dedication to serving its clients with the highest level of professionalism and expertise.

Its exceptional journey to market leadership in the long-term insurance segment is a reflection of its unwavering commitment to meeting the evolving insurance needs of Sri Lankan customers. With a commanding 21.13% market share, the company has become the go-to choice for individuals and families seeking comprehensive, reliable, and affordable long-term insurance solutions.

In the highly competitive world of general insurance, IIRM Lanka Insurance Brokers said it has emerged as a formidable player, capturing a substantial market share of 6.34%. This achievement is attributed to the company’s ability to adapt to changing market dynamics, its focus on risk management, and its commitment to delivering value-driven insurance solutions.

“Our success in the general insurance business underscores our expertise in risk assessment, underwriting, and claims management,” said Deputy Chairman and CEO Graeme Labrooy. “We take pride in providing our clients with tailored insurance coverage that safeguards their assets, business interests, and peace of mind,” he added.