Ceylinco Insurance posts impressive half yearly results
Laying the firm foundation for yet another successful year, Ceylinco
Insurance, declared imposing results for the first half of 2012.
The Managing Director and Chief Executive Officer of Ceylinco
Insurance – General, Ajith Gunawardena, announcing the impressive
achievement, said“the first half of 2012 saw the company record a total
premium income of Rs.10.5 billion, with the General and Life Divisions
contributing Rs.5.5 billion and Rs.5 billion, respectively.
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Ajith
Gunawardena |
Accordingly, at the half way mark of 2012, the company has earned a
profit before tax of Rs.172 .6 million. December 2011 saw Ceylinco
Insurance record a profit after tax of Rs.1,129 million, with the profit
after tax of the group declared at a staggering Rs.1,393 million,
signifying a growth of 39 % year on year.
As at June 30, 2012 the total assets of the company increased to
Rs.63.2 billion, signifying an increase of Rs.1.9 billion, when compared
with Rs.61.3 billion in December 2011. Moreover, the company’s
investments stand at Rs.47.9 billion, with the Share Holders Fund at an
impressive Rs.9.4 billion. Further, the voting share, once again, for
the fourth consecutive year, fetched the highest price among banks and
insurance companies during the first half of the year.
“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. It is a partnership of trust that we have
formed with our customers; this is the cornerstone of the company’s
philosophy”, Ajith Gunawardena added.
In keeping with the promise of timely settlement to customers, the
company has already paid out Rs.3.7 billion, as claims, during the first
half of 2012.
Ensuring growth and meeting emerging opportunities head-on, the
company now maintains the largest branch network in the island, which
counts over 290 branches and sales outlets for the General Division and
another 185 branches for the Life Division. Meanwhile, the company’s
flagship brand, Ceylinco VIP continued to stand tall, delivering
unmatched benefits, and once again, establishing trends and setting the
benchmark. Having been hailed as the undisputed market leader in the
insurance industry for the 8th consecutive year, Ceylinco Insurance
enjoys the distinct privilege of being voted by the Sri Lankan people,
as the People’s Insurance Company, for the sixth consecutive year. The
company has also been feted with the Gold Award at the National Business
Excellence Awards for the past three years, which further signifies the
company’s contribution towards the socio-economic development of Sri
Lanka through the adoption of efficient methodologies and proper
business ethics.
With the remainder of the year and the future looking secure,
Ceylinco Insurance is set to scale even greater heights, going from
strength to strength, living by its credo of adopting innovative
insurance solutions geared towards actual market needs.
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