Allianz Lanka’s 1Q 2007 performance healthy

COMPANY RESULT: Alliance Insurance Company Lanka Ltd. achieved a strong quarter this year, posting a profit after tax of Rs 10.76 million, which is a phenomenal increase from a loss of Rs. 84 million in the first quarter of 2006. Gross Written Premium (GWP) also once again recorded a surge, growing by 50 per cent.

The Sri Lanka subsidiary of Munich-based multinational insurance giant Allianz, attributes its strong performance to an increased customer portfolio, as more and more key corporate players entrust Allianz Lanka with their insurance needs.

“We are very proud of the fact that our customer portfolio is increasing, mainly as a result of word-of-mouth recommendations by satisfied customers,” Allianz Lanka CEO Surekha Alles said.