LOLC General Insurance becomes 4th largest general insurance provider in Sri Lanka

LOLC General Insurance PLC has advanced to become the fourth largest general insurance provider in Sri Lanka by the end of the third quarter of 2025, as reported in the latest gross written premium (GWP) performance update issued by the Insurance Association of Sri Lanka. 

Demonstrating sustained, strategic and disciplined growth, the company has risen from seventh place in 2019 to fourth by Q3 2025, a remarkable upward trajectory within a comparatively short period. 

Sustaining its upward momentum, the company recorded a robust 17 percent GWP growth, outperforming the industry growth rate of 15 percent. This strong performance has elevated LOLC General Insurance’s market share from 8.89 percent to 9.06 percent, signalling a noteworthy and consistent year-on-year expansion.

The motor insurance segment contributing over 75 percent to the company’s total general GWP continues to demonstrate commanding performance. It retains its position as the third largest motor insurance provider in the country, supported by an impressive 23 percent growth by end-3Q 2025. This reinforces the segment’s strategic importance and competitive strength within the overall portfolio.

LOLC General Insurance Chairman Kithsiri Gunawardena stated, “It is truly rewarding to witness the company’s steady progress, moving up to become the fourth largest general insurance provider in Sri Lanka within a short period. This achievement reflects our firm strategic focus, strong leadership and equally, the enduring confidence our valued customers have placed in us. I extend my sincere appreciation to our valued policyholders, business partners and our dedicated employees, whose trust, loyalty and commitment have been instrumental in driving our success and sustaining our growth momentum.”

LOLC General Insurance Chief Operating Officer Udaya Kumara added, “This accomplishment highlights the confidence our customers place in us and the commitment of our professional teams across sales, underwriting and operations. The collective expertise of our team, supported by unparalleled risk management solutions with strong reinsurance backing, streamlined processes and a customer-centric service culture, continues to drive our growth. As we move forward, our focus remains on delivering innovation, value and excellence at every customer touchpoint.”

Driven by an extensive branch network, trusted corporate partnerships and dynamic broker and leasing channels, together with a dedicated Takaful arm offering Sharia-compliant protection LOLC General Insurance remains well positioned to deliver digitally empowered, customer-centric solutions anchored in service excellence. As a proud member of the diversified and globally renowned LOLC Group, the company benefits from the group’s financial resilience, advanced technological capabilities and synergistic ecosystem, which collectively reinforce its strong and resilient market presence.