Ceylinco declares Life Insurance Week

Ruwanthi Abeyakoon

Ceylinco Life declared the country's first Life Insurance Week to drive the penetration of life insurance in the market.

It is scheduled to be observed from February 11 to 17. Chief Executive Director, Ceylinco Life, R. Renganathan said the level of penetration of life insurance in our market is low. "Out of the total population only 1.7 million have obtained life insurance policies.

Life insurance penetration is 8.7 per cent. Greater public awareness should be created for life insurance market," he said.

He added that the 2007 life insurance campaign helped the company achieve satisfactory growth in new business and premium income during the year.

"Ceylinco Life, achieved a premium income growth of 20 per cent in the year ending December 31, 2007," Renganathan said.

During the Life Insurance Week, Ceylinco Life will conduct public awareness programmes in Anuradhapura, Trincomalee, Ambalantota, Ratnapura, Gampaha, Teldeniya, and Kalutara including presentations.

Each workshop will take place alongside a free medical camp conducted under the company's Waidya Hamuwa programme at which members of the public are offered free check-ups by a team of doctors.

Ceylinco Life ended 2007 with premium income of Rs. 6.8 billion, an increase of more than Rs. 1.1 billion over the previous year.