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Asian Alliance Insurance ended the 2002 third quarter with a Gross Written Premium (GWP) of Rs. 250 million for its General Insurance division. According to the company, this is a 25 per cent growth compared to the same period last year and "is a phenomenal achievement since the industry growth in GWP terms over the last four years averaged less than 12 per cent."

A healthy class mix was maintained by the company with a major portion of the business coming from fire insurance-related risks.

The company recently relocated its corporate offices to Nawam Mawatha from the World Trade Centre to provide easy access to its clients and intermediaries. The General Insurance division also made some operational changes to improve its efficiency and effectiveness. Victor Colombage and Gerry Gunadasa now overlook General Underwriting, Re-Insurance and Claims in their capacities as deputy general managers.

Still in its second year of Life operations, Asian Alliance Insurance has over 400 Life sales people. The company currently operates from seven locations - Colombo, Gampaha, Panadura, Negombo, Kurunegala, Kandy and most recently Matara. It is a composite insurance company launched in December 1999, handling both General and Life Insurance.

The major shareholders are Asia Capital Ltd., Richard Pieris Company Ltd. and Sampath Bank.

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