Amana Takaful General Insurance sustains impressive growth trajectory in 2023

Amana Takaful Insurance PLC (General) said it has achieved remarkable growth, marking its third consecutive year as one of the fastest-growing insurance company in Sri Lanka. 

Demonstrating resilience and strategic prowess, the company achieved a staggering 28% year-on-year increase in Gross Written Premiums (GWP) in 2023, propelling its revenues to an impressive Rs. 4.29 billion during the review period.

This extraordinary growth spanned across diverse segments, showcasing the company’s robust performance and strategic acumen. Notably, the motor segment witnessed a 29% surge, totaling Rs. 2.13 billion, while the non-motor and health segments experienced substantial growth rates of 21% (Rs. 1.40 billion) and 40% (Rs. 750 million) respectively. These achievements underscore not only the company’s financial strength but also its steadfast commitment to meeting the evolving needs of its diverse customer base.

Amana Takaful Insurance PLC Managing Director Hassan Kassim said: “Our remarkable growth underscores our commitment to strategic planning, service excellence, and innovative business practices. The significant increases across motor, non-motor, and health segments last year are clear indicators of our unwavering dedication to excellence.”

Hassan Kassim further emphasised the critical role of trust, highlighting the company’s prompt claims processing, fair policies, and efficient procedures. Amana Takaful Insurance’s commitment to integrity and innovation has fostered strong customer loyalty, driving its continued financial success.

With a comprehensive suite of products tailored to individual requirements, including motor, medical, home, travel, business, and marine insurance, Amana Takaful Insurance goes beyond expectations, striving to provide accessible insurance solutions that cater to the diverse needs of all Sri Lankans. This unwavering dedication has earned the company numerous awards and accolades both locally and internationally.

Established in 1999 and listed on the Colombo Stock Exchange since 2006, Amana Takaful Insurance General boasts a network of 30 branches across Sri Lanka, ensuring nationwide coverage. The company holds ISO 9001:2015 accreditation, reflecting its commitment to quality and excellence. Additionally, it has expanded its footprint to the Maldives since 2005, eventually becoming a free-standing PLC and listing on the Maldives Stock Exchange (MSE) in 2011. Offering a comprehensive array of general and life insurance options, along with customised health insurance plans, Amana Takaful Insurance remains steadfast in its mission to serve diverse segments of society with integrity and innovation.