Asian Alliance records impressive Q1 growth

Asian Alliance Insurance Co. Ltd., has ended the 1st quarter 2005 with its Life and Non Life insurance exceeding their budgeted premium.

In Life Insurance, budget has been exceeded by 19% for the quarter, producing a premium of Rs. 134 million - an increase of 48% over the previous year.

Eight Regional offices, strategically located, have performed well with Negombo and Kurunegala excelling. The average premium per policy was at Rs. 34,000 and the company maintained a retention level of 72%. In General Insurance also the company had exceeded the quarterly budget by 18%. It is an increase of 19% over last year in a very competitive market environment.

Ranjit Weerasinha, C.E.O of the company said " The company has settled all claims in full in respect of Tsunami affected and has earned a name for fair settlement of claims on time.

The excellent performance in the 1st quarter is also a demonstration of the professional approach of the Sales Team numbering 480," he said.