People’s Insurance PLC has once again reaffirmed its position as one of Sri Lanka’s leading general insurers through a prestigious international accolade and the continued recognition of exceptional performance within its sales force.
In a significant achievement, People’s Insurance was named Best General Insurance Company of the Year 2026 – Sri Lanka at The Global Economics Awards, a globally respected platform that recognizes organizations demonstrating excellence in performance, governance, innovation, and industry leadership. This marks the third consecutive year that the Company has received this distinguished international recognition, underscoring its sustained commitment to operational excellence, customer-centric innovation, and long-term value creation.
The recognition comes on the back of another strong financial performance during the first quarter of 2026. People’s Insurance recorded a 34% growth in Gross Written Premium (GWP) to Rs. 2,856.54 million, outperforming the overall industry growth of 27% during the same period. Profit before tax increased to Rs. 230.52 million, while profit after tax rose to Rs. 156.40 million, representing an overall profitability growth of 18% year-on-year.
Demonstrating its commitment to customers, the Company settled claims amounting almost to Rs. One billion during the quarter. The Non-Motor portfolio recorded an impressive growth of 25%, significantly exceeding the industry growth of 13% for the segment, reflecting the success of the Company’s diversification strategy and strong market presence. The Motor portfolio remained the largest contributor to GWP, delivering a growth of 38%. The Company also maintained a strong financial position with robust liquidity and capital adequacy levels comfortably above regulatory requirements.
Commenting on the achievement, Chairman Mr. Chandana Guniyangoda stated:
“Receiving the Best General Insurance Company of the Year 2026 – Sri Lanka award for the third consecutive year is a proud milestone for People’s Insurance. This recognition reflects the strength of our strategic direction, sound governance practices, and the unwavering commitment of our employees.
Our continued growth and resilience in a competitive market demonstrate the confidence placed in us by our customers, business partners, and stakeholders. As we move forward, we remain focused on strengthening our market leadership, delivering sustainable growth focusing on insurance inclusivity and creating lasting value for all stakeholders.”
Chief Executive Officer Ms. Jeevani Kariyawasam added:
“This recognition is a testament to the collective efforts of our entire team and reflects the strong foundation we have built through customer-centricity, operational excellence, disciplined underwriting, and prudent risk management.
Our first-quarter performance demonstrates the effectiveness of our growth strategy and our ability to consistently deliver strong results while maintaining financial stability. As we continue our journey, we remain committed to expanding insurance accessibility, embracing innovation, enhancing customer experiences, and contributing meaningfully to the development of Sri Lanka’s insurance industry.”
The Company’s success is driven by the dedication, passion, and performance-oriented culture of its people and reflects the strength of People’s Insurance’s strategic vision. As the Company continues its growth trajectory, it remains focused on innovation, service excellence, financial strength, and sustainable value creation while contributing to the continued advancement of Sri Lanka’s general insurance sector.
