Allianz Lanka over achieved the company plan in all areas of business in the 2nd quarter 2009, posting a General Insurance GWP of Rs 496 million, which is a growth of 48% over figures of the corresponding period last year. Underwriting profits as at end June 2009, also increased by a substantial 358% to Rs 56 million, which is a remarkable achievement in a challenging market. The company’s Net Profit Before Tax was a record Rs 90 million, a percentage growth of 219 over the second quarter figure of Rs 28 million last year.

"We are pleased that we have been able to sustain our steady growth and profitability into our fifth year of general insurance business in Sri Lanka. We still continue to maintain our Gross Operating Ratio well below industry norms, which we have maintained since inception," confirmed CEO Allianz Lanka, Surekha Alles. The company attributes its highly commendable performance to the implementation of several discerning core business strategies and to selective risk management and underwriting practices

The success of its General insurance business in Sri Lanka prompted the setting up of Allianz Life Insurance Lanka in the country in November last year. As of the second quarter 2009, the company achieved a commendable Life Insurance GWP of Rs 40.8 million. Allianz has since expanded its branch network to the provinces and now has a strong presence in Kurunegala, Galle and Negombo, where the company services its rapidly expanding clientele with the same benefits, facilities and financial security enjoyed by its customers in Colombo, Plans are also on board to expand to other viable locations including the North and East in the near future. "We intend to fully utilise the business opportunities that have arisen as a result of the opening up of the North and East to private businesses," explained Mrs Alles

Allianz Global has also posted a satisfactory performance over the first six months of this year, with an increase in Net Profit of 21% to euro1.9 billion ($2.7 billion) in the April-June period, up from euro1.5 billion in the second quarter of 2008. Allianz SE’s capital base remains strong relative to the market. This year too, Allianz received a rating of AA reputed ratings agency Standard and Poor, which is the best rating enjoyed by an insurance company worldwide, and confirms its global reputation for financial stability and professionalism.