Sri Lanka Insurance Corporation General Ltd. (SLICGL) has become the first general insurance company in the country to cross Rs. 30 billion in gross written premiums, the state-owned insurer announced on Thursday.
Daily FT, which carried the announcement on its front page on Friday, said the milestone strengthens SLICGL’s number-one position in the general insurance market and underlines a year of sustained growth for the state enterprise.
The figure builds on a strong nine-month run reported in November, when SLICGL booked Rs. 21.85 billion in GWP — an 18 percent year-on-year increase — alongside Rs. 257 million in operating profit and Rs. 2.61 billion in profit after tax. Chairman Nusith Kumaratunga said at the time the results reflected the “strength, stability and strategic focus” of the business and its role in protecting individuals, enterprises and national assets.
The insurer, which operates through 143 branches, paid Rs. 0.7 billion in taxes during the first nine months of 2025 and held Rs. 11.5 billion in government securities. Parent Sri Lanka Insurance Corporation paid Rs. 1.5 billion in dividends to the Treasury in 2025, a 17 percent increase on the previous year, reinforcing its position as one of the largest state-enterprise contributors to public revenue.
The Rs. 30 billion threshold lands as the Finance Ministry rolls out a new insurance industry roadmap and motor cover rules tighten under the cash-before-cover regime that took effect on 1 May.
