People’s Insurance records 33% revenue growth in 3Q

CEO Jeevani Kariyawasam	CFO Amila Rajapaksha

People’s Insurance PLC has delivered a strong performance for the nine months ended September 30, 2025, reporting solid topline momentum and sustained financial stability despite a dynamic operating environment. 

The company posted an impressive 33 percent topline growth in 3Q—more than the industry’s overall growth rate of 15 percent—underscoring its strengthened market presence, prudent underwriting discipline and focused business expansion strategies. The quarter-on-quarter growth stands at 34 percent compared to 2024.

Growth was driven primarily by robust contributions from both the motor and non-motor segments. The motor segment achieved a remarkable 43 percent year-on-year growth compared to the industry’s 24 percent. The non-motor segment also performed strongly, recording 9 percent growth against the industry’s 4.5 percent and contributing 24 percent to the overall premium base. 

The company reported a profit before tax of Rs.472.64 million, reflecting the second year impact of mandatory motor SRCC and TC 100 percent cession to NITF and impact from investment income, due to lower return. Despite these external pressures, People’s Insurance maintained a healthy financial position, supported by effective cost management, improved claims handling and enhanced operational efficiency.
For the period ended September 30, 2025, the company incurred total claim expenses of Rs.2,195 million. The increase in operating expenses was mainly driven by the strategic investments in sales expansion and technology advancements aligned with long-term growth. 

Total assets increased by 10 percent to Rs.13.95 billion, bolstered by an 8 percent increase in financial investments, demonstrating the company’s commitment to prudent capital allocation and strong liquidity management. Shareholders’ equity expanded to Rs.5,944.89 million, marking a 5 percent year-on-year increase, while cash equivalents grew by Rs.36.58 million, further strengthening the company’s financial footprint.

CEO Jeevani Kariyawasam said, “Our topline growth reflects our continued focus on strengthening our core business while continuing to deliver value for our customers and stakeholders.”

Chief Financial Officer Amila Rajapaksha added, “The company’s financial position remains resilient, supported by disciplined underwriting, effective claims management and a well-balanced investment strategy.”