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.
Director, Ajith Gunawardane
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
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
The fund has also diversified its investments in to areas such as
real estate, licensed commercial banks and other low risk sectors he
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
The National Business Excellence Awards, which is held annually, is a
unique awards scheme introduced by the National Chamber of Commerce of
Chairperson SLT, Leisha Chandrasena with her award
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
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.
Dr. Chula Herath receives medical equipment and a plaque from
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
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
This project was part of KPMG Sri Lanka’s commitment to support the
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
Printcare Secure Managing Director Noel Hill and Loyalty
Marketing Creative Director signing the contract.
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
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