Ceylinco Insurance records Rs 21.9 b premium income for 2012
"Ceylinco Insurance, recorded unprecedented results for the year
ended December 31, 2012, recording yet another mammoth success," a
spokesman for the company said.
Managing Director and Chief Executive
Officer, Ceylinco Insurance – General, Ajith Gunawardena
(left) and Managing Director and Chief Executive Officer -
Ceylinco Life, R. Renganathan (right).
Managing Director and Chief Executive Officer of Ceylinco Insurance -
General, Ajith Gunawardena said, "During 2012, Ceylinco Insurance
recorded a premium income of Rs. 21.9 billion to which the General
Division contributed Rs. 11.1 billion, with the Life Division
contributing the balance Rs. 10.8 billion. This signifies an increase of
Rs. 2 billion over the previous year, with the overall growth standing
"The General Division has recorded a growth of 10.5%, while the Life
Division had registered a 10.1% growth," he said.
In reviewing the results, Ceylinco Life thus becomes the first Life
Insurance Company in Sri Lanka to surpass the Rs. 10 billion mark in
"Reaching Rs. 10. 8 billion in premium income is ample evidence to
prove our dominance in the Life Insurance industry in Sri Lanka,"
Managing Director and Chief Executive Officer of Ceylinco Life, R
"Moreover, holding true to our ideology of helping our customers to
bounce back to normalcy as fast as possible, most of the claims were
settled on the spot.
The General Division paid claims amounting to Rs. 5.3 billion during
2012, providing full settlement to all genuine claims in the quickest
time," said Managing Director and Chief Executive Officer of Ceylinco
Insurance - General, Ajith Gunawardena.
Similarly, during 2012, the Life Division paid customer benefits
worth Rs. 4 billion, along with another Rs. 33.6 million, as 'Avurudhu
Cash Bonus' for long-standing policyholders.