Insurance is growing by 18.5% in 2011

The premiums of the Sri Lankan market have increased by 18.5% at 66.2 billion LKR (581.9 million USD) in 2011. Non-life insurance reported the largest increase with 43.3 billion LKR (380.6 million USD), that is, a 23.45% growth. With 31.1 billion LKR (273.4 million USD) of premiums volume, life insurance grew by only 13%. Out of the 22 companies in the country, 12 are operating in both classes of business while seven are solely active in non-life insurance and three in life. The six brokers present on the market contribute up to 9.72% of the total premiums collected on the market.

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