March, 12, 2019
The Board of Directors of AIA Insurance Lanka PLC (“AIA Sri Lanka” or the “Company”) is pleased to announce the financial results of the Company and its subsidiary (collectively, the “Group”) for the year ended 31 December 2018.
The main highlights are:
Pankaj Banerjee, Chief Executive Officer of AIA Sri Lanka, said:
“2018 was characterised by continued transformation at AIA Sri Lanka aimed at laying a strong foundation for sustained growth, driven by our brand promise of helping customers live healthier, longer, better lives. In 2018, AIA Sri Lanka demonstrated great resilience and discipline to deliver a robust performance amidst a challenging external environment marked by slowdown in consumer demand, relatively low economic growth and continued uncertainty in the socio-economic front.
“Against the backdrop of the economic challenges during the year, AIA Sri Lanka remained focused on executing our strategy and launched several key initiatives including the launch of a full-time professional agency outfit of Premier Agency Circle (PAC). We continued to enhance our customer offering with market leading and needs based new pension and health solutions with the introduction of SmartPension and HealthProtector. We also launched a top-tiered customer programme ‘AIA First Class’ for our premier customers. We strengthened our bancassurance platform with continued strong growth through our strategic partnerships with DFCC Bank and NDB Bank, while also commencing development of our digital sales system. Our investments in strengthening our brand visibility also resulted in sizeable enhancement in our brand recognition parameters with Total Brand Awareness growing to 86% by the end of the year. These are all testimony of AIA Group’s firm commitment to the Sri Lankan business where we continue to invest in transformational initiatives, and look forward to achieving further success in the years to come.”
William Lisle, Chairman of AIA Sri Lanka, said:
“I am pleased to see AIA Sri Lanka’s resilience in the face of adversity and appreciate the initiatives launched in 2018 and also the progress made. I remain confident of the long-term growth potential of the Sri Lankan market, and we remain committed to continuously focusing on executing our strategy for making steady progress towards our goal of becoming the pre-eminent life insurer in Sri Lanka and help its people live healthier, longer, better lives.”
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