SLICGL achieves outstanding financial results for 2024

• Annual claim payout totals to Rs.10.5bn
• Records Rs.25bn in GWP, marking 9.45% growth from 2023
• Records PBT of Rs.4bn
• Market leader with 19.4% market share and 9% growth
• Sri Lanka Insurance Motor Plus retains no. 1 position in motor insurance industry

Sri Lanka Insurance Corporation General Limited (SLICGL) delivered an outstanding performance in 2024, reinforcing its strength and resilience in the industry as the market leader. 

The company posted a remarkable profit before taxation (PBT) of Rs.4 billion and a profit after tax of Rs.3.3 billion, demonstrating solid financial stability. As of December 31, 2024, SLICGL recorded a gross written premium (GWP) of Rs.25 billion, while expanding its asset base to Rs.51 billion, further cementing its financial position.

In the motor insurance segment, Sri Lanka Motor Plus generated Rs.14 billion in premium income, securing a 20 percent market share and maintaining its position as the number one motor insurance provider in the country for the sixth consecutive year. The segment recorded a 5.3 percent growth. 

Meanwhile, the non-motor segment achieved Rs.11 billion in premium income, registering a 15 percent growth, which surpassed the industry growth rate in this category. Overall, SLICGL recorded a 9 percent growth to be the market leader, with a 19.4 percent market share, outperforming the industry average and underscoring its diverse portfolio and customer-centric approach.

Reaffirming its commitment to the policyholders, SLICGL disbursed Rs.10.5 billion in claim payouts in 2024.

Sri Lanka Insurance Group CEO Chandana L. Aluthgama stated, “SLICGL has once again delivered an exceptional performance in 2024, reinforcing our position as a leader in the insurance industry.”  

Sri Lanka Insurance Chairman Nusith Kumaratunga remarked, “The outstanding performance of SLICGL in 2024 underscores our unwavering commitment to stability and long-term value creation.”