People’s Insurance Best General Insurance Company of the Year 2026 recognition has reinforced the insurer’s leadership in Sri Lanka after it secured the prestigious international award for the third consecutive year while reporting strong first-quarter financial performance.
People’s Insurance Best General Insurance Company of the Year 2026 wins global recognition
People’s Insurance PLC was named Best General Insurance Company of the Year 2026 – Sri Lanka at The Global Economics Awards, an internationally recognised platform that honours organisations for excellence in performance, governance, innovation, and industry leadership.
The latest accolade marks the third successive year that the company has received the award, highlighting its continued focus on operational excellence, customer-centric innovation, and long-term value creation within the Sri Lanka insurance industry.
The international recognition comes alongside another quarter of robust financial performance. During the first quarter of 2026, the insurer recorded gross written premiums (GWP) of Rs. 2,856.54 million, representing a 34% year-on-year increase, outperforming the overall industry growth rate of 27% during the same period.
Profitability also strengthened, with profit before tax rising to Rs. 230.52 million and profit after tax increasing to Rs. 156.40 million, reflecting an overall profitability growth of 18% compared with the corresponding period last year.
Demonstrating its continued commitment to customer service, the company settled claims amounting to almost Rs. 1 billion during the quarter, supporting policyholders while maintaining strong financial stability.
Growth was recorded across several business segments. The non-motor insurance portfolio expanded by 25%, significantly outperforming the industry’s 13% growth for the segment. The performance reflects the company’s successful diversification strategy and expanding market presence beyond traditional motor insurance products.
Meanwhile, the motor insurance portfolio remained the largest contributor to gross written premiums, recording a strong 38% growth during the quarter.
The company also maintained robust liquidity and capital adequacy levels that comfortably exceeded regulatory requirements, providing additional confidence in its financial strength and long-term sustainability.
Commenting on the achievement, Chairman Chandana Guniyangoda said receiving the People’s Insurance Best General Insurance Company of the Year 2026 award for a third consecutive year represented a significant milestone for the organisation.
He said the recognition reflects the strength of the company’s strategic direction, sound corporate governance, and the dedication of its employees.
“Our continued growth and resilience in a competitive market demonstrate the confidence placed in us by our customers, business partners and stakeholders. As we move forward, we remain focused on strengthening our market leadership, delivering sustainable growth focusing on insurance inclusivity and creating lasting value for all stakeholders,” he said.
Chief Executive Officer Jeevani Kariyawasam said the recognition highlights the collective efforts of the company’s workforce and the strong operational foundation built through customer-focused service, disciplined underwriting, prudent risk management, and operational excellence.
She noted that the company’s first-quarter financial performance demonstrates the effectiveness of its growth strategy while maintaining financial discipline and stability.
“As we continue our journey, we remain committed to expanding insurance accessibility, embracing innovation, enhancing customer experiences and contributing meaningfully to the development of Sri Lanka’s insurance industry,” Kariyawasam said.
The company said its achievements have been driven by a performance-oriented culture and a long-term strategy focused on innovation, service excellence, and sustainable value creation.
Receiving recognition from The Global Economics Awards further strengthens People’s Insurance’s international standing while reinforcing its position among Sri Lanka’s leading general insurers.
As competition within the Sri Lanka insurance industry continues to intensify, the company said it remains focused on strengthening customer trust, enhancing digital capabilities, broadening insurance accessibility, and delivering sustainable growth that benefits customers, shareholders, employees, and the wider economy.