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Ceylinco Life heads another record year

Ceylinco Life achieved yet another milestone when benefits paid out to policyholders exceeded Rs. 2000 million in the first 11 months of 2008, while the company's solvency margin remained at five times the margin stipulated by statute.

The company said this week that premium income had reached Rs 7,434.7 million as at November, 30, indicating a growth of 20.37 per cent over the preceding 12 months.

These are particularly noteworthy indicators, given the challenging market conditions that prevailed throughout the year just concluded.

Ceylinco Life Chief Executive Director, Rajkumar Renganathan said, the Premium income figures for December 2008 are being finalised, but we already know that it was a record month.

The company's Life Fund which stood at Rs 20.4 billion as at September, 30 had grown by Rs 800 million over the next two months to Rs 21.2 billion at the end of November 2008, Renganathan said.

He said the benefits paid by the company during this period included maturity benefits, claims, surrender value settlements and bonuses. In addition to these, policyholders had also received numerous payments and benefits under the 'Life Rewards' scheme of Ceylinco Life.

The new business in December 2008 alone clearly indicates that our momentum has not slowed and that public confidence remains as high as it ever was Renganathan said, adding that in terms of premium income, December 2008 would turn out to be the best month yet in the company's history.

The figures show that Ceylinco Life will emphatically maintain its position as the largest life insurer in 2008, making it our fifth year at the top, he said.

The strong growth of the company's Life Fund reflects the prudent management of investments in a tough market environment. Renganathan said, that the bulk of the fund's investment was in government securities.

The fund has also diversified its investments in to areas such as real estate, licensed commercial banks and other low risk sectors he said.

SLT wins Business Excellence 2008

Sri Lanka Telecom was the winner of three prestigious awards at the National Business Excellence Awards 2008, held for the fifth consecutive year.

The National Business Excellence Awards, which is held annually, is a unique awards scheme introduced by the National Chamber of Commerce of Sri Lanka.

It recognizes organizations that have succeeded in demonstrating the highest level of corporate excellence during the year, whilst making a significant contribution to the socio economic growth and development of the country through outstanding business practices.

Applicants for the award are evaluated based on eight different criteria which include business and financial performance, global reach, knowledge integration, technological investment, capacity building, performance management, corporate governance and corporate social responsibility.

Those who win these prestigious and coveted awards are those corporates who have performed exceptionally well to earn the highest accolades that can be nationally bestowed. Sri Lanka Telecom was the Gold Winner of the Infrastructure and Utilities Sectorial Award, which is proof of the comprehensive world class infrastructure that SLT has built up over the years.

With the company already laying down the giant infrastructure for international and domestic connectivity, SLT has the capability to serve the future demands of any corporate in Sri Lanka especially in terms of Internet Protocol (IP) services.

Having been a catalyst for economic and social prosperity, the company has been responsible for impressive capital investments and initiatives to create the capacity for future growth of the industry.

In return for the company’s outstanding efforts in this area, SLT became the Gold Winner of the award for Best Capacity Builder under the Best Performance Category.

KPMG donates equipment to J’pura Hospital

KPMG Ford, Rhodes, Thornton and Co. recently donated medical equipment costing over seven hundred thousand rupees to the nephrology ward of the Sri Jayewardenepura General Hospital.

The equipment including a multi parameter dialysis monitor and a three channel ECG machine was provided as a contribution aimed at improving health care to needy patients who make regular use of the hospital and also aimed at providing for faster diagnosis and monitoring of patients.

Former Senior Partner of the firm Rajan Asirwatham presented the equipment to Dr. Chula Herath - Consultant of the Nephrology Unit of the Hospital. Nirmal Fernando (Senior Partner) and several from the firm were present.

This project was part of KPMG Sri Lanka’s commitment to support the communities.

The Firm in 2006-7 took an initiative of coordinating an effort by KPMG member firms in building five housing villages comprising of a total of over 150 houses for tsunami victims who were displaced due to the tsunami calamity.

In addition to the disaster relief assistance provided by the KPMG Foundation in Sri Lanka, the Firm used themes like education, environment and children to encourage its’ people to engage with the local communities to achieve its’ Corporate Citizenship goals.

This is one such social need identified by the outgoing Senior Partner, Rajan Asirwatham and the Firm responded in a meaningful manner to assist the nephrology unit of Sri Jayewardenepura Hospital to benefit the people patronizing this hospital.

Printcare forms alliance with global lottery company

Printcare Secure a subsidiary of Printcare Plc, recently signed a contract to form a global lottery marketing company. This alliance will bring together the combined resources and experiences of Loyalty Marketing of Australia, Pegasus International of the UK and Printcare Secure.

The global nature of this alliance further enhances Printcare’s ability to service Sri Lankan and overseas lottery customers with world class lottery products, promotional concepts and ideas. The alliance will develop new export markets for Printcare by increasing its global reach.

Printcare is the only Sri Lankan based producer of international standard quality and secure instant scratch and draw lottery tickets. Printcare has been printing and exporting instant scratch lottery tickets since 2005.

Loyalty Marketing, based in Australia has 30 years of experience with promotional marketing, lottery operators, charity fund raising organisers and corporations throughout Australia and South East Asia.

Pegasus International based in the UK has achieved similar success in the UK, Africa and Europe.

This alliance has a formidable client list, including many well known brands such as Qantas, McDonalds, Dialog Telekom, Sri Lanka Telecom, Tabcorp, Tattersalls, News Corporation, Caltex, Ryanair, Crown Casino and many others.

The alliance’s promotions and operations are backed by Lloyds of London insurance policies, as well as stringent risk management procedures which include independent audits directed by international specialist GAB Robbins including latest forensic laboratory product analysis.