Performance of Insurance Industry

Overview of licensed Insurance intermediaries (2007 - 2011)

Code Type of insurance intermediaries 31 Dec 2007 31 Dec 2008 31 Dec 2009 31 Dec 2010 31 Dec 2011
INS-2.2A Insurance Agent (Company) * 140 151 153 157 168
INS-2.2B Insurance Agent (Individual) - 17 18 23 28
INS-2.3 Insurance Agent Brokers 20 23 24 24 13
INS-2.4 Insurance Salespersons 1,767 805 925 1,257 1,651
- TOTAL 1,927 996 1,120 1,461 1,860

 

 

 

 

 

 

* Exclude Companies holding a Category 1 Global Business Licence  

 

  • Long-Term Insurance Business

The long-term insurance industry generated a total gross premium of Rs 11.96 bn in 2010 as compared to Rs 9.51 bn in 2009, representing an increase of 26%. Total assets of long-term insurers increased by 16% to reach Rs 75.38 bn in 2010 as compared to Rs 64.95 bn in the previous year.

  • General Insurance Business

The total assets of insurers underwriting general insurance business increased over the years to reach Rs 13.16 bn in 2010, representing 11% growth compared to 2009. Likewise, the gross premium in respect of general insurance business for the year 2010 amounted to Rs 5.58 bn as compared to Rs 5.24 bn in 2009, representing an increase of 6%.

 

Breakdown of General Insurance policies by class (2010)

breakdown of general insurance policies by class

 

Total Assets of Insurers (2006-2010)

Toatal assets of Insurers(2006-2010)

 

Gross premium of Insurers (2006-2010)

Gross premium of Insurers (2006-2010)

 

 

Long-Term Insurance Business

General Insurance Business

For further details, please consult the FSC Annual Statistical Bulletin.