Insurance Companies

Performance of Life Insurance Companies

The total premium collected by the five life insurance companies during the year ended December 31, 2001 stood at Rs. 8,060 million, indicating a 7.6 percent increase over the previous year. Of this, Rs. 1,392 million represented first year premium collection by life insurance companies, which represented an increase of 9.35 percent from last year. Group premium also registered a significant growth of 19.27 percent to Rs. 1,598.90 million during the year. On the whole, the state-owned SLIC remained the dominant player in the life insurance market with a share of 86.2 percent in terms of premium. The market share of the five life insurance companies,