Ceylinco Insurance posts Rs 268 m PBT
Ceylinco Insurance, declared impressive results for the first half of
2011. Announcing the results, Managing Director and Chief Executive
Officer of Ceylinco Insurance - General, Ajith Gunawardena said: “During
the first half of 2011, the company recorded a total premium income of
Rs 9.6 billion, to which the General Division of the company contributed
Rs 4.9 billion, with the Life Division recording Rs 4.7 billion.”
CEO Ajith Gunawardena |
Accordingly, the company has earned a profit before tax of Rs 268
million for the first half of 2011, indicating a mammoth increase of 120
percent over the corresponding period of last year. As at December 31,
2010, Ceylinco Insurance had recorded a profit after tax of Rs 803
million, with the consolidated profit declared at Rs 1,001 million, an
increase of 44 percent over the previous year.
As at June 30, 2011, the total assets of the company increased to Rs
52 billion, which signified an increase of Rs 2.8 billion, when compared
with December 2010.
The company’s investments stand at Rs 37.2 billion, while the share
holders fund is at an impressive Rs 7.7 billion.
“We take every effort to keep our promise to our customers at every
juncture. Although, we have embarked on an unparalleled growth journey,
delivering what we promise to our customers is of paramount importance
to us. We don’t leave any stone unturned in pursuing and ultimately
achieving this objective. For us, it is a partnership of trust we have
formed with our customers, this is the cornerstone of the company’s
philosophy,” Gunawardena said.
In keeping with the promise of timely settlement to customers, the
company has paid out Rs 3.7 billion as claims during the first half of
2011, when compared with the Rs 3.3 billion paid during the first half
of 2010. |