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Ceylinco Life has begun the disbursement of more than Rs. 292 million in bonuses to policy holders for fiscal 2000 - 2001, on the back of a healthy 44 per cent growth in the surplus of the company's life fund during this period.

This amount, believed to be the highest among private sector Insurers for the year, reflects consistent yields across all categories of policies marketed by the company, despite the generally depressed business and investment conditions in the country, the company said.

"All our bonus recipients have grounds to be satisfied with the performance of the company," Ceylinco Insurance's Director Mrs. A. Seneviratne said. "We are pleased to announce that in all product categories, Ceylinco Life has delivered more than it promised."

Citing an example, she said a Whole Life Policy that has remained active for ten years have its sum assured enhanced by 53 per cent with the latest bonus payment. Similarly, policies in the Endowment and Advance Payment categories, would under the same conditions, would now pay 47 per cent and 39 per cent more respectively, she said.

Dividend payments made on Ceylinco's "Supreme Life" policies had also shown a noteworthy trend of consistency.

"The slowing down of the economy has led to lower yields on investments across the board," she added. "In this context, the growth in our surplus underlines the prudent financial management practised by Ceylinco Life."

Ceylinco Life markets five core insurance products in three categories. Bonus payments and dividends are based on the cost: return performance of each individual product. By August this year, the company's Life Fund had grown to Rs. 4.5 billion, following a sector-leading sales performance in the first half of the year.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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