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Sri Lanka Insurance General Surpasses LKR 30 Billion GWP, Strengthens ...
Sri Lanka Insurance Corporation General Limited (SLICGL) has become the first general insurance company in Sri Lanka to surpass LKR 30 billion in Gross Written Premium while reinforcing its No.1 position in the insurance market. Sri Lanka Insurance Corporation General Limited (SLICGL) has achieved a historic milestone, becoming the first General Insurance (GI) company in Sri Lanka to surpass LKR 30 billion in Gross Written Premium (GWP). The landmark achievement sets a new benchmark for the industry and demonstrates SLICGL’s unmatched strength, credibility, and customer trust. In addition to this record-breaking performance, SLICGL has strengthened its No. 1 position in Sri Lanka’s General Insurance market for 2025, continuing leadership from 2024. Posting outstanding financial metrics for 2025, the company has widened its lead over competitors, reinforcing dominance in the sector. SLICGL also is the undisputed leader in motor insurance, a segment which continues to drive GI penetration nationwide. As the National Insurer, SLICGL carries the responsibility of safeguarding the nation, offering protection and peace of mind to individuals, families, and businesses. The commitment covers a comprehensive portfolio of products including motor and personal accident cover, home protection, travel insurance, and medical emergency solutions delivering a calm assurance of providing affordable and accessible insurance for every Sri Lankan. Through its flagship Suraksha programme and partnerships with government institutions, SLICGL continues to expand coverage to underserved communities, strengthening the role as the nation’s insurer of choice Moreover, SLICGL holds the distinction of being Sri Lanka's highest-rated insurance brand as the only A+ Fitch rated insurer in the country. SLICL was also recognised as the Most Valuable General Insurance Brand by Brand Finance. Backed by the strength and heritage of Sri Lanka Insurance Corporation, SLICGL continues as the nation’s first choice in risk protection, poised for continued growth and innovation, cementing its reputation as the country’s most trusted insurer. These achievements highlight SLICGL’s unwavering commitment to innovation, customer-first values, and national progress. With a legacy of leadership and a vision for the future, SLICGL continues to deliver confidence, convenience, and care to all Sri Lankans. Underlining the commitment to outreach, SLICGL carried out a nationwide town storming exercise on 22 Ap...
Sri Lanka Insurance Corporation General poised for strong growth ...
Sri Lanka Insurance Corporation General Ltd. (SLICGL), the general insurance subsidiary of Sri Lanka Insurance Corporation Ltd. (SLIC), is entering a new phase of growth and innovation following its official segregation on February 1st, 2024.Commenting on the outlook for SLICGL, Chandana L. Aluthgama, Group Chief Executive Officer, SLIC said, “After over 62 years of successful operations, the mandated separation of the life and general insurance businesses enables us to be more focused in our business strategies and ensures improved efficiency and effectiveness when serving our customers. Understanding this critical pivot, we have adapted to regulatory requirements as well as market dynamics and initiated operational separation across segments in 2018.” He further added, “Hence, while 2024 signals the legal culmination of the segregation, we are already seeing results of our focused business approach. For example, despite industry and national challenges, SLICGL has demonstrated exceptional performance in 2023, a growth story that speaks volumes about our performance and potential in the general insurance industry.”While the overall general insurance sector posted an average growth in Gross Written Premiums (GWP) of 5.7% in 2023, SLICGL surged ahead with a 14% increase in GWPs in the same year. Growth is attributed to the significant expansion in both motor and non-motor segments, with SLICGL maintaining its leadership position in the motor market and bridging the gap in the non-motor segment. Defining the journey to date, Aluthgama said, “We did not just grow; our activity ratios surged. We prioritized training, strategic positioning, and new sales recruitments backed by incentives and performance monitoring, with the transformation extending across the entire company. In 2023, we embraced a performance-driven culture, underscored by a collective agreement among all staff members for variable pay based on performance."Priyantha Perera, Chief Operating Officer, SLICGL said, “In 2023, our performance significantly outpaced industry growth rates, securing top position in the motor market for the fifth consecutive year at 6% growth, which is over 10 times faster than the industry growth average of 0.5% for this motor segment. Moreover, despite initially being behind in the non-motor sector, we narrowed the gap significantly, reducing it to LKR 1.5 billion last year from LKR 3 billion, and expanding the segment at 27%, which is well above the industry growth a...
SLIC General claims first Rs 30b GWP milestone in Sri Lanka
Sri Lanka Insurance Corporation General Ltd. (SLIC General) has reported that it has become the first general insurer in Sri Lanka to surpass Rs. 30 billion in gross written premium (GWP), based ...
Sri Lanka Insurance Corporation General Limited strengthens No. 1 ...
Sri Lanka Insurance Corporation General Limited (SLICGL) has achieved a historic milestone, becoming the first General Insurance (GI) company in Sri Lanka to surpass LKR 30 billion in Gross Written Premium (GWP). The landmark achievement sets a new benchmark for the industry and demonstrates SLICGL's unmatched strength, credibility, and customer trust. In addition to this […]
