Ceylinco Insurance records impressive 1 H results

Ceylinco Insurance, recorded impressive results for the first half of 2009, said Joint Deputy Chairman Ajith Gunawardena. "During the first half of 2009, the company recorded a total premium income of Rs 8.2 billion, of which the General Division contributed Rs 4.5 billion whilst the Life Division recorded Rs 3.7 billion.

The company earned a profit before tax of Rs 279 million for the same period. As at June 30, 2009 the total assets of the company increased to Rs 38.2 billion, an increase of Rs 800 million when compared with December 2008.

The company's investments stood at Rs 23.8 billion."

In keeping with its promise of timely settlement to customers, the company paid Rs 4.3 billion as claims during the first half of 2009 when compared to Rs 3.7 billion paid during the first half of 2008, an increase of 16 percent.

The insurance industry recognises Ceylinco Insurance as the only company that settles all claims on the spot, an achievement unmatched as yet. "Our unique claim settlement on the spot has resulted in increased customer confidence. It also means the customers can get their claim settled without hassle," Gunawardena said.