Healthy growth for Allianz Lanka
Ramani Kangaraarachchi
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Sureka
Alles |
Allianz Lanka has achieved a profit of Rs. 53.2 million before tax in
its third year of operations in 2007 recording a growth of 257% compared
to the second year profit which was Rs. 14.9 million, CEO Allianz Sri
Lanka Sureka Alles said.
She said it achieved pure underwriting profit from second year of
operations and its business strategy is a clear focus on profitability,
consistent underwriting policy, controlled management of key factors
like cost savings and maintaining a combined ratio well below industry
norms.
Allianz Lanka is one of the newest entrants to the Sri Lankan
insurance arena in 2005 and it has a fast growing customer base of large
multinationals, local corporates, small traders and individuals as a
result of using diverse and innovative distribution channels to reach
customers.
Alles said the company has commenced setting up branches outside
Colombo to reach semi corporate retail and rural customers. The first
branch outside Colombo will be in Kurunegala and another five are
scheduled to open in Colombo suburbs and outside Colombo.
Arugam Bay Bridge, the World Trade Centre Twin Towers and the Colombo
Matara highway are some of the key infrastructure covered by Allianz
Lanka.
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