Ceylinco Insurance posts record gains in premium growth and profits

PROFITS: Ceylinco Insurance - General Division, posted record gains during the nine-month period from January to September 2006. Up to September 30, 2006, Ceylinco Insurance - General Division had achieved a premium income of over Rs. 7 billion (7,088 million), an increase of over Rs. 1.2 billion (1,222 million) over the same period last year.

The premium growth amounts to an increase of 24% over the corresponding period last year.

Meanwhile, the flagship brand - Ceylinco VIP, achieved an impressive premium income of Rs.4.3 Billion, recording a growth of 22% over the same nine-month period last year. During the period under review, Ceylinco Insurance - General Division's, profits grew by an incredible 63%, amounting to Rs. 408 Million.

The impressive growth up to the third quarter in the Ceylinco Insurance - General Division, consolidated with the premium income of Ceylinco Life, stands at a massive Rs. 11.3 Billion, during the January to September period in 2006.

Chief Executive Director of Ceylinco Insurance - General Division, Ajith Gunewardena, commenting on this exponential growth, said: "Our successful growth, despite the adverse conditions prevalent throughout the country and in spite of stiff competition, reflects the growing confidence more and more people place in our strength and stability.

The massive increase in premium income during this nine-month period bears testament to the trust, the insuring public has placed in Ceylinco.

We have always stood by our customers; in their darkest hours, and well-earned our reputation for settling claims unbelievably fast."

Ceylinco Insurance - General Division, recorded yet another momentous achievement during the first nine months of 2006 and the company was, recognised as the Most Innovative Insurance Company In Asia.