SANASA Life notches fastest industry growth rate in Q2

Wednesday, 14 September 2022 00:03 - - {{hitsCtrl.values.hits}}

Chief Business Officer Ivan Nicholas, Chief Operation Officer/Principal Officer Nuwanapriya Gunawardane, CEO/General Manager Indika Kiriwandeniya, Chief Technical Officer Joe Karunarathne and Specified Officer Chandana Divigalpitiya

Despite the adverse socio-economic challenges in the country, SANASA Life Insurance Company has reassured its position to be the Fastest Growing Life Insurance Company in Sri Lanka.

In a statement SANASA Life Insurance said the Sri Lanka Insurance Association published the performance report of life insurance companies for the 2Q 2022 of which SANASA Life Insurance Company was ranked 9th among the Life Insurance Companies in the country by achieving a growth rate of 81.5%, surpassing all life insurance companies after recording a superior growth performance during the first half of 2022.

It is unique that SANASA Life, which was ranked 11th last year, has been ranked 09th, beating many companies within a year, the statement added.

In the first 06 months of the year 2022, SANASA Life has recorded a GWP of Rs. 1,307 million, which is a massive growth rate of 81.5% compared to last year.

In 2003, SANASA obtained the licence to operate as a Life Insurance Company and since its inception it has been making revolutionary changes in the Sri Lankan life insurance industry.

Recognising its social responsibility as a life insurance company, SANASA Life reinstated inactive life insurance policies of over 20,000 policy holders who failed to pay insurance premiums during the last COVID-19 epidemic period free of charge.

SANASA Life, which is closer to the people at the rural grassroots level, is also providing its services to its customers through the network of SANASA Societies spread all over the country.

SANASA Life Insurance CEO Indika Kirivandeniya said: “I am proud to have been able to achieve this kind of journey in a very short period of time. This victory was not achieved overnight, everyone who worked hard for this as a team remembers me very fondly at this moment.

“SANASA Life was initiated with the aim of providing relief to the people, among the people, by the people. SANASA Life belongs to the rural poor people. So this victory belongs to them. At this moment, I would like to express my gratitude to all those who have believed in us and have been associated with us since the beginning.”