Amãna Takaful, one of Sri Lanka’s fastest growing composite insurers recently presented its annual plan cascade to its staff. Under the theme ‘We Are Winning’, all staff members were presented with the 2012 performance of the company highlighting the year and the milestones achieved above expectations on many fronts.
“We are winning. Our growth trajectory is promising and we have expanded to new markets in 2012. This year we are even more bullish to reach the homes and offices of more Sri Lankans to introduce them to the concept of Takaful through products of mutual value”, said Fazal Ghaffoor, Chief Executive Officer, Amana Takaful PLC, making a presentation to the audience that had converged from all branches.
The event was attended by almost the entire staff together with members from the Board of Directors. The respective Heads of Departments presented the highlights of 2012 and plans for the year 2013 focusing on its development and growth plans in its respective areas.
Amana Takaful reported an impressive growth of 26% for the 9 months to September 2012, well above the industry’s 12.2% and looks forward to releasing the results of the 4th quarter 2012.
The Company’s performance in terms of total Gross Written Premium (GWP) of Rs. 1,151.5m up to September 2012 compares with Rs. 913.6m in the same period of 2011. The General Insurance business accounted for Rs. 891.0m, growing significantly at 28.5% over the comparative period in 2011. The Life segment’s Gross Written Premium of Rs. 260.4m to September 2012, reflects a growth of 18.4% over the corresponding period last year. These results reflect a substantial upside against the industry performance of 18.3% and 4.4% on General and Life businesses respectively as at end September 2012.
With branches in 21 locations island-wide, Amãna Takaful has been successful in its journey of more than a decade in establishing a strong position for the concept of Takaful amidst stiff competition with 20 other conventional industry players. The company has been able to deliver unique value, the Takaful way, to Corporates and individuals alike as a composite insurer.