Sunday, October 1, 2023

SANASA Life records the fastest growth rate in the insurance industry in 2022 Q2

Despite the adverse socio-economic challenges in the country, SANASA Life Insurance Company has reassured their position to be the Fastest Growing Life Insurance Company in Sri Lanka. The Sri Lanka Insurance Association published the performance report of life insurance companies for the 2Q 2022 of which SANASA Life Insurance Company was ranked 9th among the Life Insurance Companies in the country by achieving a growth rate of 81.5%, surpassing all life insurance companies after recording a superior growth performance during the first half of 2022. It is unique that SANASA Life, which was ranked 11th last year, has been ranked 09th, beating many companies within a year. In the first 06 months of the year 2022, SANASA Life has recorded a GWP of Rs. 1,307Mn, which is a massive growth rate of 81.5% compared to last year.

In 2003, SANASA obtained the license to operate as a Life Insurance Company and since its inception it has been making revolutionary changes in the Sri Lankan life insurance industry. Recognizing its social responsibility as a life insurance company, SANASA Life reinstated inactive life insurance policies of over 20,000 policy holders who failed to pay insurance premiums during the last COVID-19 epidemic period free of charge. SANASA Life, which is closer to the people at the rural grassroots level, is also providing its services to its customers through the network of SANASA Societies spread all over the island. Commenting on this, Mr. Indika Kirivandeniya, Chief Executive Officer of SANASA Life Insurance said, “I am proud to have been able to achieve this kind of journey in a very short period of time. This victory was not achieved overnight, everyone who worked hard for this as a team remembers me very fondly at this moment. SANASA Life was initiated with the aim of providing relief to the people, among the people, by the people. SANASA Life belongs to the rural poor people. So, this victory belongs to them. At this moment, I would like to express my gratitude to all those who have believed in us and have been associated with us since the beginning.”

Image Caption: Ivan Nicholas – Chief Business Officer, Nuwanapriya Gunawardane – Chief Operation Officer/Principal Officer, Indika Kiriwandeniya – Chief Executive Officer/General Manager, Joe Karunarathne – Chief Technical Officer, Chandana Divigalpitiya – Specified Officer

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