AIA Sri Lanka delivers a solid performance in 2014
Monday, 9 March 2015 00:00
-
- {{hitsCtrl.values.hits}}
The Board of Directors of AIA Insurance Lanka PLC has announced what it described as “solid performance” in the year ended 31 December 2014.
The main highlights are:
Execution of clear strategic priorities leading to sustained growth
Gross Written Premium (GWP) grew by 7.1% to Rs. 10,213 million compared with Rs. 9,536 million in 2013
Investment income, including gains, grew by 6.8% to Rs. 4,707 million, mainly due to the increase in market values of equity securities
Life insurance GWP grew by 5.9% to Rs. 7,267 million
General insurance GWP increased by 10% to Rs. 2,946 million Solid performance with significant investment in countrywide expansion
nConsolidated profit after tax was lower at Rs. 352 million, including a significant investment in expanding its branch network to deliver long-term, sustainable growth and lower investment income from a reduction in interest rates
A life surplus of Rs. 100 million was declared
AIA Sri Lanka Chief Executive Officer Shah Rouf said:“In 2014 we continued our focus on delivering quality growth through the execution of our strategic priorities. During the year, we successfully expanded our footprint across Sri Lanka by increasing our branch network to 123 locations and growing our number of Wealth Planners to over 5,000.
“Our customers are at the heart of what we do and our investment in expanding our business will enable us to meet the substantial and evolving needs of our customers, while delivering the best possible customer experience.
“AIA Sri Lanka was also at the forefront in following the guidelines of the Insurance Board of Sri Lanka (IBSL) by segregating our life and general insurance businesses, which we believe will be a progressive move for the industry.”
AIA Sri Lanka Chairman Gordon Watson said:“I am delighted that AIA Sri Lanka has delivered a solid performance in 2014 and at the same time investing in the foundations for future sustainable growth. AIA’s Real Life Company brand proposition reflects our commitment to providing financial solutions for our customers to help them meet their wealth aspirations and prepare them for the opportunities and challenges of real life.
“Our success is built on sustainable relationships and sustainable business practices. We are strongly committed to safeguarding what is important to our customers while contributing to Sri Lanka’s ongoing social and economic development.”
