(, 2020) Compared to the general insurance industry GWP growth, which was -2.24% during the past year, the company recorded GWP growth of 2%. The past year, Co-operative Insurance’s (general) market share has increased to 4.42%, in comparison to 4.27% as in 2019.
Right now, we are bullish of what Co-operative Insurance can achieve during our IPO, and in turn how it will help elevate our portfolio in 2022,” Co-operative Insurance Chairman Susil Weerasekera said. Our steady, undeterred performance continued to demonstrate stability and resilience during a period that was characterized by numerous restrictions forced into play by the global pandemic. “This IPO is an important milestone for Co-operative Insurance, and is a firm testament to the continued dedication and passion of our staff and the firm loyalty of our clientele. This enabled it to make an indelible mark as one among the top 10 insurance companies in the country, affirming the success of the company’s vision of delivering unparalleled insurance solutions and services to all Sri Lankans across the island.
695 million for the fiscal year 2020, up by a commendable 155% from the year before. The IPO will be managed by the Merchant Bank of Sri Lanka.Īffirming its financial strength, the company, which secured a strong financial performance for the past year, was able to grow their Net Earned Premium (NEP) by an impressive 5% in a challenging, economically-crippling environment impacted by the COVID-19 pandemic to post a profit of Rs. Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th of December, 2021.
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