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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » CINS Performances

CINS Performances

5 posters

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1CINS Performances Empty CINS Performances Sun Feb 26, 2012 5:29 pm

opfdo

opfdo
Vice President - Equity Analytics
Vice President - Equity Analytics

Revenue up by 11%
OP up by 22%
PAT up by 39%
EPS 51.95
Current PER 13.18

2CINS Performances Empty Re: CINS Performances Sun Feb 26, 2012 10:34 pm

fatcat


Stock Analytic
Stock Analytic

I want to collect some cinsx ,
Why think of the Idea price ?

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Feb 26, 2012 (LBO) - Sri Lanka's listed Ceylinco Insurance said it had earned profits of 929 million rupees in the December 2011 quarter up 27 percent from a year earlier partly helped by other income.

The firm reported earnings of 35 rupees for the quarter. In the year to December the group reported earnings of 51.95 rupees, on profits of 1.37 billion rupees, up 43 percent from a year earlier. The stock last closed at 684.70 rupees.

In the year to December 2011, gross written premium grew 12 percent to 20.1 billion rupees un-audited accounts filed with the Colombo Stock Exchange showed.

In the December quarter, gross written premium grew 5 percent to 5.3 billion rupees and net premium after re-insurance of 718 million grew 2 percent to 4.6 billion rupees.

Total benefits and losses grew only 1 percent to 3.5 billion rupees.

Investment income grew 12 percent to 1.23 billion rupees and other income rose to 219 million rupees from 3.6 million a year earlier.

The firm said other income included a profit of 213 million rupees on the disposal of motor vehicles in the last quarter.

Ceylinco Insurance group gross assets rose to 64.2 billion rupees up from 50.6 billion rupees and net assets rose to 10.8 billion rupees from 8.3 billion rupees during the year.

The firm's largest shareholders are Ciesot (Pvt) Ltd with 22.86 percent and Global Rubber Industries with 20.17 percent. Pictet & Cie had 10.6 percent, a Ceylinco Insurance employee gratuity fund had 9.06 percent and Prabash Subasinghe 5.24 percent.
http://lbo.lk/fullstory.php?nid=1773172316

sriranga

sriranga
Co-Admin

He may be serving bail and facing wrath of Golden Key customers, but the estranged founder Lalith Kotelwala’s craving for Ceylinco Insurance appears to be insatiable.

Kotelawala has bought 18,141 shares during the quarter ended on 31 December 2011 thereby increasing his stake to 54,886 or 0.27% and moving up one position to be the 16th largest shareholder of Ceylinco Insurance.

In the top 20 list of shareholders of Ceylinco Insurance the only movement was that of Kotelawala.
Shares of Ceylinco are illiquid and at Tuesday’s closing price of Rs. 689.90, Kotelawala’s stake is valued at Rs. 38 million.

In the December 2011 quarter during which Kotelawala had purchased additional shares, he could have spent anything between Rs. 10.8 million (lowest price of Rs. 600) and Rs. 14 million (highest price of Rs. 774.60) or Rs. 13.5 million as per the closing price of Rs. 746.70.

Ceylinco Insurance has declared a dividend of Rs. 6.50 for 2011 financial year and Kotelawala as a shareholder will get some cash as well.

Mid February irate and long suffering customers of Golden Key demonstrated urging authorities to put Kotelawala back in jail for their dues unsettled for three years and as he had violated the undertaking given to the Supreme Court as bail condition.

The Ceylinco group has put on sale several of its subsidiaries and properties to raise funds to repay depositors of Golden Key.

Last year, Kotelawala quit the Ceylinco Insurance Board after being absent for several years. Though listed for re-election, he quit the Board saying he “will not be available for re-election as a director of Ceylinco Insurance due to personal reasons”. In July last year Kotelawala was released on bail following an order given by Colombo High Court Judge Deepali Wijesundara. Along with Kotelawala seven others have been accused of massive fraud at the collapsed Golden Key Credit Card Company. The Colombo High Court released Kotelawala and the other accused members on a Rs. 5 million surety bail each.

Following the collapse of the Ceylinco Group affiliated Golden Key credit card company, Kotelawala, who was the Chairman of the company and seven others were indicted in the Colombo High Court for the alleged misappropriation of Rs. 4.1 billion.

The court has served indictment papers on each of the accused and an arrest warrant had also been issued on the sixth accused, Sicille Kotelawala who was not present in court.
http://www.ft.lk/2012/03/08/lalith-kotelawala-ups-stake-in-ceylinco-insurance/

http://sharemarket-srilanka.blogspot.co.uk/

5CINS Performances Empty In-house Fund collects rare quantity Thu Mar 08, 2012 1:31 am

sriranga

sriranga
Co-Admin

Relatively illiquid Ceylinco Insurance voting share last week saw its most active trading of late with in-house Pension Trust Fund picking up the bulk.

Around 29,000 voting shares of Ceylinco Insurance traded last week of which 25,000 changed hands on Friday at Rs. 690 each up from Rs. 684.70 closing the previous week. The Ceylinco Insurance’s Pension Trust Fund was the buyer increasing its stake to 1.88%.

Despite the small stake it is the 11th largest shareholder of Ceylinco Insurance whilst Ceylinco Insurance’s Employees Gratuity Trust Fund has 9.06% and is the fourth largest shareholder.

The duo’s combined stake is now 11%, up from 10.8% as at end 2011. On Tuesday, Ceylinco Insurance voting stock closed one rupee up to Rs. 689.90 with 200 shares traded whilst on Monday, 500 shares traded before closing up by Rs. 28.90 from Friday’s close.
http://www.ft.lk/2012/03/08/in-house-fund-collects-rare-quantity/

http://sharemarket-srilanka.blogspot.co.uk/

6CINS Performances Empty Re: CINS Performances Fri Mar 09, 2012 6:11 pm

fatcat


Stock Analytic
Stock Analytic

Just before the market closed
Cins 63000@830/-
So don't sell now
Soon or later can go up to 900/- +++

7CINS Performances Empty Re: CINS Performances Fri Mar 09, 2012 7:58 pm

mark

mark
Expert
Expert

fatcat wrote:Just before the market closed
Cins 63000@830/-
So don't sell now
Soon or later can go up to 900/- +++

when Shocked i ddnt got that trade. scratch

sriranga

sriranga
Co-Admin

http://www.cse.lk/cmt/upload_cse_announcements/8421331292518_.pdf

http://sharemarket-srilanka.blogspot.co.uk/

sriranga

sriranga
Co-Admin

* Consolidated profit stands at Rs.1,393 million – growing by 39%
* Assets grow by 24.3% to reach Rs.61.3 billion
*Premium Income growth of 10.3%

Ceylinco Insurance recorded a profit after tax of Rs.1,129 million (Rs 1.1 billion) for the year ended 31st December 2011. During the year under review, Ceylinco Insurance PLC made an operational profit of Rs.1,301 million ( Rs 1.3 billion ). The after tax profit of the group stood at Rs.1,393 million, signifying a growth of 39% year on year, the insurers announced recenctly.

In 2011, Ceylinco Insurance PLC recorded a mammoth premium income of Rs.19.8 billion, which amounted to a growth of 10.3%, with the General Division contributing Rs.10 billion, and the Life Division accounting for the remaining Rs.9.8 billion.

Announcing the profit, Managing Director/Chief Executive Officer of Ceylinco Insurance – General, Ajith Gunawardena, said: "What we have achieved in 2011 was in line with our expectations. We have succeeded by adhering to sound fundamentals and we are committed to managing our business with great discipline and prudence. Our main focus, as always, remains the central figure that drives our business: the customer, and accordingly, during the year under review, Rs.4.9 billion was paid out by Ceylinco Insurance – General, as claims."

Commenting on the Life Division’s performance during 2011, Managing Director/Chief Executive Officer of Ceylinco Life, R. Renganathan said: "Our ability to outperform the industry growth is evidence of the trust and confidence that Ceylinco Life has built up over the years. This is an invaluable asset that we intend to nurture and build on in the years ahead. It is noteworthy that Ceylinco Life planned and executed several spectacular promotions in the year reviewed, and paid Rs 1.8 billion in bonuses and cash bonuses, far exceeding policyholder expectations."

Meanwhile, the total investments of the company, including both the Life and General Divisions, exceeded Rs.46,988 million( Rs 47 billion) , whilst assets grew by 24.3% and stood at Rs.61.3 billion by the end of December 2011.

During the year under scrutiny, the General Division sold over 650,308 new policies, bringing the total policies in force to 1,284,621.

Furthermore, net transfers to the Life Fund over the year was Rs. 6.3 billion, increasing the Life Fund to Rs.38.2 billion, recording a remarkable growth of 19.8% year on year.

The Life Division meanwhile, sold over 143,259 new policies during the year, while Life solvency stood at over eight times the required solvency ratio. The total claim benefits disbursed by the Life Division in 2011 amounted to Rs.2,946 million.

Ceylinco Insurance, the undisputed market leader in Sri Lanka for eight consecutive years, enjoys a market share of 24.8 % in the sphere of insurance, and remains poised for exponential growth in 2012.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=50225

http://sharemarket-srilanka.blogspot.co.uk/

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