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| Sunday, 5 October 2003 |
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| News Business Features Editorial
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Ceylinco-General records remarkable growth The Ceylinco Insurance-General Division achieved a 50 per cent growth and a record premium income of Rs. 1.7 billion during the first half of 2003. This is an increase of over Rs. 560 million over the same period of last year. This is the highest increase and growth recorded in the general insurance industry during the first half of 2003, the company said. Together with its Life Division, the total turnover of Ceylinco Insurance during the first half stood at Rs. 3 billion a 35 per cent growth over the corresponding period of last year.The company's VIP scheme introduced seven months ago to settle vehicle accident damages on-the-spot has created a big impact in the insurance industry, said Ajith Gunawardena, Chief Executive Director. "We have captured a market share of over 27 per cent in the general insurance industry. This indicates the confidence of the insuring public towards the company," he added. Ceylinco-General operates 66 branches and 29 VIP centres in the country, the latter catering to the growing demand for its motor insurance. Its overseas network includes joint ventures in Mauritius, Nepal and Bangladesh. |
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