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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Ceylinco Life First To Cross Rupees 10 Billion In Annual Premium Income

Ceylinco Life First To Cross Rupees 10 Billion In Annual Premium Income

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sriranga

sriranga
Co-Admin
http://www.cse.lk/cmt/upload_cse_announcements/9171356066223_.pdf

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Dec 21, 2012 (LBT) - Ceylinco Life has become the first life insurer in Sri Lanka to achieve Rs 10 bn in premium income, a milestone the life insurance leader reached in December 2012.

“Being the first to cross the rupees 10 bn threshold is a fitting tribute to our dominance of the sector,” Ceylinco Life’s managing director & CEO R. Renganathan said. “Ceylinco Life Was the last of the four private companies to commence operations with the opening up of the sector in 1987, but that was never a handicap after our first 10 years in business, we were the first to cross Rs 2bn in premium income, & have grown five fold in the next 14 years.”

Ceylinco Life celebrates its 25th anniversary on 14th January 2013.

Mr.Renganathan attributed the company’s consistence leadership of the sector to a steadfast focus on fundamental, best practice, professionalism & ethics, & its empathy for the needs of the community. “Prudent management of our policy holders’ funds has also been key to our growth & stability,” he said.

In 2012, Celinco Life’s investment portfolio comprised of government securities (45%); Licensed Private Banks (21%); state banks (15%); Real Estate (10%); Corporate Debt (5%); & Others (4%).

All investments conforms strictly with the investments guidelines stipulated under the regulation of the Insurance Industry Act No 43 of 2000 for investments pertaining to life funds, & are subject to regular monitoring by the Insurance Board of Sri Lanka (IBSL), the government appointed regulator for the industry.

Independently rated as one of the country’s most valuable brands, Ceylinco Life has maintained its leadership of the country’s long term insurance sector from 2004 onwards. The company operates the largest branch network among local life insurance Companies, & has won multiple international & local awards for its commitments to the community & success in brand equity building.
http://lbt.lk/corporate/announcements/3286-first-to-cross

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