Sanasa Life Insurance (SLICL), has shown resilience and agility in adapting to the new normal while managing to post a healthy operational and financial performance, whilst achieving a record 235.1% Year-on-Year (YoY) in Gross Written Premiums (GWP) to reach Rs. 719.9 million in 2021.
The Company Total Asset Portfolio reached 2,673.8 million against the 2,307.3 million reported on the Year-end 2020. Operation Surplus Transferred to Life Fund at the end of the second quarter was 256.6 million. Since the beginning of the Pandemic, SLICL launched several initiatives to support its key stakeholders including its vulnerable policyholders who were hit hard by the impacts of the Pandemic by introducing a project to waive off the lapsed premiums of more than 21,000 policyholders. With these projects, SLICL has won several international awards. Most recently, World Economics Magazine awarded SLICL with ‘Life Insurance COVID-19 Response Initiative Sri Lanka 2021’ and ‘Most Sustainable Micro Insurance Company’ awards.
SANASA Life Insurance CEO, Indika Kiriwandeniya stated that “As a company working for the welfare of the rural people, we have worked for the benefit of all our stakeholders, even amid the COVID-19 pandemic. We will continue to take our business to people with different financial means and I believe in my team for a better future ahead.”
As per the Insurance industry statistics for the Second Quarter of 2021, SLICL has shown dramatic growth despite the adverse effects of the pandemic.
SANASA Life Insurance Chief Business Officer, Ivan Nicholas stated that “SLICL has been able to climb up the ladder from 14th place to 11th place in terms of share of Gross Written Premium (GWP). We were able to be established as a growing player in the industry in the past year.”
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