Monday Dec 01, 2025
Monday Dec 01, 2025
Thursday, 27 November 2025 05:56 - - {{hitsCtrl.values.hits}}
The Colombo Stock Exchange has granted in-principle approval for InsureMe Insurance Brokers Ltd to list its ordinary voting shares on the Empower Board through an introduction, with 2,055,290 ordinary voting shares admitted for trading.
The CSE said the shares will be listed on or before the third market day following receipt of the company’s formal declaration. Further information will be announced once the listing date is confirmed.
The company said the listing is intended to support two strategic objectives. First, it aims to strengthen corporate and brand visibility as InsureMe pursues growth plans in Sri Lanka, the Asia-Pacific region and the MENA markets through its insure-tech products.
The company noted that these expansion plans do not require approvals from the Insurance Regulatory Commission of Sri Lanka (IRCSL). Second, the listing is expected to reinforce governance by adopting Colombo Stock Exchange corporate governance structures and meeting ongoing listing obligations.
The company reported a revenue of Rs. 301.6 million for the year ended 31 March 2025 and a net profit of Rs. 24.4 million.
The company has recorded a compound annual revenue growth rate of 19% over the five financial years to FY 2024/25, despite periods of weaker demand during the economic downturn. Revenue is tied to the volume of policies purchased through the insureme.lk platform, and therefore moves in line with overall insurance demand and customer activity on the platform.
Gross profit margins peaked in FY 2022 and FY 2023 before normalising to around 40-45% in FY 2024 and FY 2025. The increase in direct salaries from FY 2024 contributed to a moderation in both gross profit and net profit margins. Net earnings remained positive throughout the five-year period.
The sharp rise in revenue reported in FY 2022/23 reflected both growth in the number of policies sold and higher commission income per policy following an increase in market-wide insurance premiums. Profitability improved accordingly in line with the stronger gross margin. Revenue volatility eased thereafter, though the higher staffing costs weighed on margins, keeping overall profitability at a modest but stable level.
InsureMe also owns Digital Services Global Ltd.
The group maintains an asset-light balance sheet consistent with its service-based operating model. As at 31 March 2025, total non-current assets amounted to Rs. 47.9 million, largely comprising intangible assets and property, plant and equipment. Current assets, made up primarily of trade receivables and cash and cash equivalents, stood at Rs. 257.8 million at the end of the financial year.
Equity increased to Rs. 143.3 million in FY 2025 from Rs. 116.5 million in the previous year. The group carries no long-term or short-term borrowings other than a minimal bank overdraft, reflecting an operation funded almost entirely through equity capital.
The Board of InsureMe Insurance Brokers comprises Chairman Prajeeth Balasubramaniam, who serves as a non-executive, non-independent director; CEO and executive director Srilal Vipula Dharmapala; managing director Winston Jayaprakash Manickam; and executive director Indika Udana Prematunga. The non-executive, non-independent director is Rishi Kant Srivastava. Independent oversight is provided by non-executive independent directors Sagara Ranga Medagama Gamage and Waruna Randeewa Malalasooriya.
