Claims settlement:
Ceylinco Life pays Rs 340 m
More than 12,700 Ceylinco Life policyholders received Rs 340 million
in settled claims in the first nine months of 2010, the company said.
The value of claims paid out in this period reflects an increase of
12 percent over the Rs 303.5 million paid out in the corresponding nine
months of 2009, the company said.
About 76 percent or Rs 259 million of the value of claims paid out in
the nine months ending September 30 were in respect of 1,025 death
claims, but the largest number of claims settled (10,952) were Hospital
Cash Benefits (HCB), Ceylinco Life Deputy Chief Executive Director
Thushara Ranasinghe said.
"An increase in the number and cumulative value of claims is the
natural outcome of the growth in our policyholder base," he said. "One
of the most important yardsticks of the quality and strength of an
insurance company is its record of speedy and hassle-free claim
settlement," he said.
Besides paying Rs 340 million in claims in the first nine months of
the current year, Ceylinco Life also made a net transfer of Rs 4,169
million to its Life Fund in this period, increasing it to Rs 30.6
billion and achieving a noteworthy YoY growth of 15.7 percent. Total
income grew nearly eight percent to Rs 8.5 billion as at September 30
with Premium Income improving by 9.6 percent to Rs six billion. |