SLIC among most profitable state entities with pre-tax profit of Rs.7.7bn in 1H

State-owned Sri Lanka Insurance Corporation (SLIC) has posted a record pre-tax profit of Rs.7.7 billion for the first half of 2022, becoming one of the most profitable state-run businesses in the country.
The profits were achieved on a strong improvement in the combined gross written premium (GWP) of Rs.21 billion, up 13.1 percent form a year ago.

Notwithstanding the stringent economic and social conditions that prevailed in the country, SLIC’s asset base increased to Rs.269 billion and the Life fund to Rs.152.4 billion, maintaining its position as the largest insurer in the country.
In the first half of the year 2022, SLIC reported a 7.5 percent growth in life insurance premiums, increasing to Rs.10.5 billion. 

The strength of its extensive branch network of 190 branches and customer service locations together with the 8000 advisor network serves beyond the mandate of insurance to provide protection to the people of this nation.
SLIC in 2022 surpassed its own record to declare a sum of Rs.9.8 billion as a bonus to the policyholders for the year 2021. The cumulative life insurance bonus paid out during the past 15 years tops a massive Rs.83 billion, making the SLIC bonus payout unmatchable. 

Sri Lanka Insurance General, the number one general insurance provider in the country, leads the local general insurance market by reporting a 19.4 percent premium growth, increasing to Rs.10.5 billion. Meanwhile, SLIC managed to retain the AA (lka) Fitch rating for long-term financial stability and is the only insurer to be certified with an AA (lka) rating. 

SLIC continues to explore avenues to provide protection to communities, segments and age groups and different affinity groups through product and market development initiatives, through practical and affordable insurance solutions.