Sri Lanka's insurance industry recorded a total Profit Before Tax (PBT) of Rs. 9.98 billion during the first quarter of 2026, an increase of 3.14% from Rs. 9.67 billion recorded in the corresponding period of 2025, according to the Insurance Regulatory Commission of Sri Lanka (IRCSL).

The Commission said the industry also recorded steady growth in Gross Written Premiums (GWP) during the quarter, reflecting the sector's resilience and its ability to operate effectively despite prevailing economic and environmental challenges.

The Long-Term (Life) Insurance business recorded a Profit Before Tax of Rs. 4.39 billion in Q1 2026, down 11.51% from Rs. 4.96 billion in the corresponding period of 2025.

In contrast, the General Insurance business reported a Profit Before Tax of Rs. 7.22 billion, an increase of 28.13% from Rs. 5.63 billion recorded in the first quarter of 2025.

The Commission said the insurance industry remained profitable during the review period, although profitability trends differed between the Long-Term (Life) and General Insurance sectors.

Investments in Government Debt Securities reached Rs. 668.79 billion as at the end of the first quarter of 2026, representing a 9.45% increase from Rs. 611.02 billion recorded a year earlier.

As at 31 March 2026, 15 insurance companies were licensed to conduct Long-Term (Life) Insurance business, while 14 companies were licensed to conduct General Insurance business in Sri Lanka.