Sanasa Life Insurance achieves record growth of 90% in 1Q23

From left: Manging Director Indika Kiriwandeniya, Chief Executive Officer Ivan Nicholas and Chief Business Officer Kenaddy Michael

SANASA Life Insurance Co PLC, which was recognised as the fastest growing life insurance company in Sri Lanka for the last couple of years, took a giant leap in the field of life insurance in Sri Lanka during the first quarter of 2023 by increasing its gross written premium (GWP) to Rs.959 million, which was Rs.504 million in the same period of 2022. 
It is a record growth of 90 percent in the first quarter of 2023. With this achievement, SANASA Life Insurance Co PLC has been able to climb up to the eighth position in the industry, where it held the ninth position in 2022, with the market share (GWP) of 2.8 percent.

“This kind of accomplishment has been achieved due to the hard work and dedication of the employees at all levels of the company and we believe that the company will achieve its goals even in the challenging times ahead,” SANASA Life Insurance CEO Ivan Nicholas stated.  
“Always putting the needs of the customer first, we planned and introduced insurance services by fully grasping those needs, which was the driving force behind our record-breaking expansion. We intend to strengthen the consolidation of client confidence while attaining even higher financial success going future,” commenting on the achievement SANASA Life Insurance Co PLC Managing Director Indika Kiriwandeniya stated. 

The vision of SANASA Life Insurance Company PLC is to improve the living conditions while providing economic independence to those who are experiencing financial hardship. SANASA Life has been recognised as the fastest growing life insurance company in Sri Lanka multiple times by many local and foreign awarding bodies. Through its nearly 100-branch islandwide branch network, Sanasa Life currently provides a range of innovative insurance products for middle and high-income citizens in both rural and urban areas. Through its innovations, Sanasa Life has been able to significantly contribute to the growth of Sri Lanka’s insurance market.