People’s Insurance PLC has delivered a strong performance for the nine months ended 30 September 2025, reporting solid top-line momentum and sustained financial stability despite a dynamic operating environment. The Company posted an impressive 33% top-line growth in Q3—more than the industry’s overall growth rate of 15%—underscoring its strengthened market presence, prudent underwriting discipline, and focused business expansion strategies. Quarter-on-quarter growth stands at 34% compared to 2024.
Growth was driven primarily by robust contributions from both the Motor and Non-Motor segments. The Motor segment achieved a remarkable 43% year-on-year growth compared to the industry’s 24%. The Non-Motor segment also performed strongly, recording 9% growth against the industry’s 4.5% and contributing 24% to the overall premium base.
The Company reported a Profit Before Tax (PBT) of Rs. 472.64 million, reflecting the second year impact of mandatory motor SRCC and TC 100% cession to NITF and impact from investment income due to lower return. Despite these external pressures, People’s Insurance maintained a healthy financial position supported by effective cost management, improved claims handling, and enhanced operational efficiency. For the period ended 30th September 2025, the Company incurred total claim expenses of Rs. 2,195 million. The increase in operating expenses was mainly driven by the strategic investments in sales expansion and technology advancements aligned with long term growth.
Total assets increased by 10% to Rs. 13.95 billion, bolstered by an 8% increase in financial investments, demonstrating the Company’s commitment to prudent capital allocation and strong liquidity management. Shareholders’ equity expanded to Rs. 5,944.89 million, marking a 5% year-on-year increase, while cash equivalents grew by Rs. 36.58 million, further strengthening the Company’s financial footprint.
Commenting on the results, Ms. Jeevani Kariyawasam, CEO of People’s Insurance PLC, said:
“Our top-line growth reflects our continued focus on strengthening our core business while continuing to deliver value for our customers and stakeholders. Despite industry-wide challenges, we have maintained stability across our key financial indicators, and we remain committed to driving sustainable growth and service excellence.”
Mr. Amila Rajapaksha, Chief Financial Officer of People’s Insurance PLC, added:
“The Company’s financial position remains resilient, supported by disciplined underwriting, effective claims management, and a well-balanced investment strategy. While profitability has been influenced by external factors, our expanding asset base and strong equity position underscore our long-term financial strength.”
People’s Insurance PLC continues to invest in technology, distribution excellence, and customer-centric innovations with its focus on delivering reliable protection and sustainable value to policyholders across Sri Lanka.
