Ceylinco Life retains No 1 slot

Sri Lanka's largest life insurer Ceylinco Life has posted Rs 6.391 b. for the six months ending June 30, 2011, with a healthy growth in Gross Written Premiums and Investment and other income.

Premium Income grew 18.5 percent over the first half of 2010 to Rs 4.663 b. an increase of Rs 730 m. while investment and other income improved by 8.4 percent to Rs 1.728 b., the company reported.

A net transfer of Rs 3.142 b. to the Life Fund resulted in the Life Fund growing by nearly 10 percent over the six months, from Rs 31.8 b. at December 31, 2010 to Rs 35 b. at the end of the review period.

The transfer to the Life Fund for the six months was 15 percent more than the Rs 2.728 b. transferred in the corresponding period of last year.

The value of Ceylinco Life's investments appreciated by Rs 1.97 b. or 6.7 per cent over the six months to Rs 31.346 b. as at June 30, while the total assets exceeded Rs 39.8 b. at the end of the first half.