People’s Insurance reports strong results with a 33% Revenue Growth and a strengthened Market Position in the first half of 2025

People’s Insurance PLC has announced robust financial results for the six months ended 30 June 2025, delivering 33% revenue growth, solid operational performance, and continued market confidence. The results reflect the Company’s unwavering commitment to creating long-term value for customers, shareholders, and other stakeholders.

During the period, the Company recorded a Gross Written Premium (GWP) of Rs. 3,752 million — a substantial 33% increase compared to Rs. 2,829 million in the corresponding period of 2024. This marks one of the highest GWP growth rate among Sri Lanka’s general insurers for Q2 2025. Growth was broad-based, with all major business segments delivering strong year-on-year performance, underscoring the Company’s resilient market presence and ability to meet evolving customer needs.

Demonstrating its commitment to policyholders, People’s Insurance settled claims amounting to Rs. 1,373 million in the first half of 2025. This reflects the Company’s dedication to providing comprehensive protection, prompt claims settlement, and reliable support in times of need.

The Motor Insurance segment remained the largest contributor to revenue, accounting for 77% of total GWP and posting a robust 40% increase. The Fire Insurance segment also performed strongly, achieving 19% growth over the same period last year.

Financial strength continues to underpin the Company’s performance. Profit Before Tax (PBT) reached Rs. 321 million, maintaining its status as one of the most profitable listed general insurers in Sri Lanka. The Company’s Capital Adequacy Ratio remained well above the regulatory minimum, reflecting prudent risk management and a solid balance sheet. Market capitalization rose by 50% year-on-year to Rs. 6.8 billion as at June 2025, signaling strong investor confidence.

In 2024, People’s Insurance was recognized as the most profitable listed general insurance company in Sri Lanka, having disbursed over Rs. 3 billion in claims. It was also ranked the fourth-largest profit-making general insurer overall, according to Insurance Regulatory Commission data, while maintaining the highest Capital Adequacy Ratio in the sector for both 2023 and 2024.

Commenting on the results, Ms. Jeevani Kariyawasam, Chief Executive Officer of People’s Insurance PLC, said: “We are pleased to deliver another quarter of strong growth, underpinned by our clear strategic focus on delivering value to all stakeholders. Our performance reflects our ability to seize long-term growth opportunities, expand coverage, enhance risk protection, and safeguard the assets and livelihoods of Sri Lankans. We remain committed to product innovation, technology-driven solutions, and sustainable growth strategies to ensure continued success for People’s Insurance and all those we serve.”

Backed by the financial strength of People’s Bank and People’s Leasing and Finance PLC, People’s Insurance offers a comprehensive range of general insurance solutions, including motor, fire, marine, engineering, and miscellaneous classes. With a strong island-wide presence, strategic partnerships across multiple financial institutions, and a customer-first approach, the Company continues to invest in people, products, and processes to remain agile in a dynamic market and drive sustainable growth over the long term.