Nov 10, 2017

People’s Insurance – Steering insurance industry to new heights

People’s Insurance PLC, a leading insurer with seven years of sound insurance portfolio, recently announced the re launch of its insurance brand. Backed by its stalwart parent companies – the People’s Bank and the People’s Leasing Finance PLC – the People’s Insurance has shown tremendous growth over the years providing innovative solutions to the nation, built on a solid foundation of utmost trust and care.

Showing a promising growth in the initial year of operation, People’s Insurance recorded a premium revenue of Rs. 933 million. During the first quarter of 2011 the company recorded an annual premium income of Rs. 1 billion, becoming the fastest non-life insurer to achieve a feat of this scale.

And within the same year, the company’s total assets exceeded Rs. 2.5 billion. In 2016, People’s Insurance Limited became People’s Insurance PLC, ensued by its investment portfolio showing a significant growth by exceeding Rs. 5 billion.

Chairman of People’s Insurance PLC Jehan P. Amaratunga noted, “We commenced our business 7 years back and today we have emerged one of the most profitable insurers in the country with consecutive underwriting profits during last 5 years.

Chief Executive Officer of People’s Insurance PLC Deepal Abeysekara expressed his views stressing that People’s Insurance is in the forefront of non-life insurance industry.

“Our successful journey reached a culmination in 2016 when our company was positioned among the biggest stakeholders in the insurance sector after recording an investment portfolio which surpassed Rs. 5 billion”.