Allianz Lanka ends 1Q with strong financials

Allianz continued its upward growth trajectory in the first quarter of 2013, achieving a Profit before Tax of Rs. 85 million, a 5% increase over the past year.

The Non-life Company generated a GWP of Rs. 532.2 million during the period, which is a 14% increase over the first quarter of 2012. Of this GWP, 63% was from the Fire segment while the Motor segment showed the highest growth for the quarter.

The Life Company's GWP grew by 42% over the first quarter figures of last year to Rs.172 million. New business premium grew by a 69%. The first quarter of this year saw Allianz Lanka further expanding its network by three new branches in Chilaw, Thrinavill and Bandarawella to provide customers speedier service and ease of access.

Customer convenience was further improved islandwide with more links to direct methods of payment in partnership with banks and mobile networks.

"A product or price advantage can always be emulated," said Allianz Lanka CEO Surekha Alles, "but we are confident that the Allianz culture of strong customer service cannot be duplicated. Because the culture of service is part and parcel of our ethic and mission and we put all our efforts into giving our customers an experience that exceeds their expectations." "'Our aim this year has been to increase our customer portfolio in the retail sector and I am very pleased that we are already experiencing tangible results here, due, undoubtedly, to our customer focus," she said.