Asian Alliance Insurance PLC (AAI) part of the Softlogic Group announced a profit after tax for the first half of 2014 at Rs 339 million.

The impressive result comes about on the back of Life premiums growth of 21% for the period at Rs 1.4billion, with the absolute increase of Rs 252 million being the highest by any Insurer in the country, and is coupled with an exceptional result achieved on the investment portfolio of the company.

The result also takes into account 1Q Life performance of the company, whilst the 2Q Life result will be reflected at year end based on the full period performance.

Total premiums for the first half were Rs 2.3 billion with General insurance premiums at Rs 831 mn and profits after tax were Rs 326 billion for Life business and Rs 12 million for the General insurance business. The first half performance of the company stands out from the rest of the industry that saw overall growth rates of 7.3% for Life and 0.2% for General.

Asian Alliance Insurance has charted an ambitious blueprint for growth, buoyed by the optimistic outlook for the insurance industry as a whole and also inspired by the key performance indicators of a fast paced Sri Lankan economy.

AAI's strong performance is the result of a strategic vision which leverages on the valuable synergies of the Softlogic Group to re-affirm the company's journey towards being a leading player in the industry.