Ceylinco Life selects Bloomberg for fixed income trading
Life insurance leader Ceylinco Life has announced that it is Sri
Lanka's first insurance company to trade government securities
electronically over Bloomberg's fixed income trading platform via FIQ.
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Ceylinco Life’s Director/CFO Palitha Jayawardana and Rehan
Ahmed, Fixed Income
E-commerce Manager, Bloomberg South Asia exchange the
agreement in the presence of Milinda Gunawardana, Assistant
Manager Investment, Ranga Abeynayake, Director/ Deputy CFO,
Dhanushka Kurukulasooriya, Manager Portfolio and Gayan
Lakmal Alwis, Manager Portfolio of Ceylinco Life. |
FIQ is an electronic trading portal that enables qualified
subscribers of the Bloomberg Professional service to execute trades in
government and corporate bonds across regional and emerging markets.
An active participant in the secondary market of government
securities in Sri Lanka, Ceylinco Life’s government securities portfolio
stood at Rs. 22.6 billion as of December 31 2012. The company has used
the Bloomberg Professional service since 2003 to help manage its
policyholders’ fund, and publishes indicative government securities and
repos prices at CELI<GO> on the Bloomberg Professional service.
“Optimising returns on our policyholders’ fund is clearly of paramount
importance to our operations,” said R. Renganathan, Managing Director
and CEO of Ceylinco Life. “With this platform, any advancement in
efficiency of the trade process can add significant value to our
business.”
Ceylinco Life operates the largest branch network among local life
insurance companies, and has been the market leader since 2004. The
company has also won multiple international and local awards for its
commitment to the community and success in brand equity building.
In December 2012, Ceylinco Life became the first life insurer in Sri
Lanka to surpass Rs 10 billion in premium income in under a year. |
