Sri Lanka’s insurance industry experienced mixed performance results in the first quarter, achieving a 7.39% year-on-year (YoY) growth in overall Gross Written Premium (GWP), equivalent to Rs. 5.41 billion, according to data from the Insurance Regulatory Commission of Sri Lanka (IRCSL). The combined GWP for Long-Term and General Insurance Businesses rose to Rs. 78.59 billion
The insurance industry in Sri Lanka reported a total Gross Written Premium (GWP) of Rs. 78,589 million for Long-Term and General Insurance Businesses for the period ending March 31, 2024, reflecting a 7.39% increase compared to Rs. 73,178 million in Q1 2023. This marks a premium growth of Rs. 5,411 million year-on-year. The GWP for
Sarvodaya Development Finance (SDF) has reported its highest-ever profits for the financial year 2023/24, driven by significant growth in key financial metrics: SDF’s Total Assets grew by 27.7%, surpassing the industry average of 7.7%, while the Lending Portfolio increased by 29.5% against the industry average of 4.5%. Deposits rose by 21%, outpacing the industry’s 8.8%.