B.P. Marsh & Partners Plc (AIM: BPM), the specialist investor in early-stage financial services businesses, is pleased to present an update on its investment, ATC Insurance Solutions PTY Limited ( ATC ), an independent underwriting agency and coverholder at Lloyd s, headquartered in Melbourne, Australia. From the time of our investment, through to 31 July 2020, our valuation of our holding in ATC has risen significantly, increasing from AU$5.1m to AU$13.6m, an uplift of AU$8.5m (c. 4.7m). B.P. Marsh invested in ATC in July 2018 with the Company taking a 20% equity stake in ATC for a total cash consideration of AU$5.1m (c. £2.8m).
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Company Begins 2021 with 250% Year-over-Year Growth, Technological Innovations, and Milestone New Hires
BOSTON, MA / ACCESSWIRE / January 21, 2021 / Corvus Insurance, the leading provider of smart commercial insurance products powered by AI-driven risk data, today announced that it exited 2020 at a $100M annual premium run rate, capping off a year that was marked by accelerated growth for the company. Corvus spent 2020 executing on a plan to reimagine commercial insurance, recognizing the market reality that traditional insurers are not meeting the dynamic needs of brokers and policyholders. Continual technological advancements throughout the year have placed Corvus in a leadership position across multiple commercial insurance products, dramatically increasing adoption and overall growth metrics.
With LOLC expanding into many markets in Asia and Africa, LOLC General Insurance is also optimistic of expanding insurance services and products to several selected and potential international markets in the near future, says Kithsiri Gunawardena, CEO of LOLC General Insurance,.
“LOLC Group has a very strong and highly respected brand presence in all the markets we operate. In some of these markets, the Insurance industry is in the early stages of development. Thus, the regulators are keen on the introduction of micro insurance products to support small and medium scale businesses for systemic stability”, he said.
LOLC General Insurance, a fully-owned subsidiary of the LOLC Group recently became Sri Lanka’s first General Insurance company to achieve Rs. 6 Billion Gross Written Premium (GWP) in less than 10 years.
HNB Assurance PLC (HNBA) together with its fully owned subsidiary, HNB General Insurance Limited (HNBGI), has surpassed the Rs. 10 Billion mark in terms of its turnover for the year ended 3 December 31, 2020. The company is a leading life insurance provider.
LOLC General Insurance, a fully-owned subsidiary of the LOLC Group recently became Sri Lanka’s first General Insurance company to achieve Rs. 6 billion Gross Written Premium (GWP) in less than 10 years. The company reached the Rs. 6 billion mark in December 2020, becoming the fastest General Insurance company to achieve this milestone in the industry. LOLC General Insurance CEO, Kithsiri Gunawardena talks of the many key attributes that helped reach this achievement.
What were the main factors that helped LOLC General Insurance reach the 6 billion GWP mark in less than 10 years?
LOLC General Insurance is a young company compared to the rest in the industry. During the last few years we continuously streamlined the processes and achieved greater coordination between different units of the company. The entire staff was motivated to work as one team and embark on a customer centric approach. A scheme was introduced whereby a pre-designated percentage of the company profits are s