Retaining its position as the fastest growing insurance company in Sri Lanka for 2 consecutive years, Amana Takaful Insurance PLC (General) announced that its revenues (Gross Written Premiums) grew by 37% in 2022, year-on-year (YoY). Accordingly, GWP revenues rose to LKR 3.36 billion during the period under review. This puts the Company in the spotlight amongst its peers, as it has also managed to increase its market share by a healthy margin during the period. The Motor, Non-Motor and Medical segments grew by 39%, 36% and 32%, respectively. Meanwhile, the company recorded a spectacular net Profit of LKR 347 million, witnessing a mammoth profit growth of 80%.
“Our success story has always hinged on the well-being of our stakeholders” said CEO, Shehan Feisal, discussing the financial performance of the Company, “We have achieved this by combining effective strategic planning with unmatched quality of service and streamlined business processes. As the pioneers of the unique people-friendly Takaful insurance model, we ensured that our claims pay-outs are streamlined and executed in a timely manner. Despite the GWP revenue only growing by 37%, our claims pay-outs have increased by 53% compared to 2021. We are in the business of financial risk management, and paying out insurance claims in a timely manner is why our customers place their trust in us. We are dedicated to serving all Sri Lankans with fair, transparent and beneficial insurance products, while constantly listening and reacting to the feedback we receive from customers and all our stakeholders.”
Hassan Kassim, Managing Director at Amana Takaful Insurance PLC also expressed his views, “Our on-time claims pay-outs, fair and transparent policies, and streamlined processes have been consistently complimented by our unique and product & service standards. Supported by our willingness to listen to what people think, this strategy has created a positive feedback loop, the success of which is evident in our continued strong financial performance.
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