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Sunday, 22 March 2015

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Continental Insurance reaches new heights

Continental Insurance (CILL) recorded its highest growth in gross written premium of 30% and 25% in net profit since beginning operations five years ago.

Continental Insurance has established itself as one of the key players in the industry by expanding to 35 branches islandwide and increasing its market share to 3.5% in the General Insurance sector.

CILL offers a diverse product portfolio to customers encompassing property, motor, marine and general accident insurance.

CILL's diverse portfolio is matched by its fast track claim settlement within 24 hours from the time the claim is lodged.

CILL's (A-) Fitch rating reflects the financial stability of the organisation and further enhances the confidence of the policy holders.

CILL Managing Director Chaminda de Silva commended the high performance of CILL in 2014.

He added that this was achieved by the organisation independently without any merger with financial organisations or entities.

The captive business accounts for only 6.5 % of the total GWP which indicates an increase in non-related customer business volumes.

Being a fully owned subsidiary of Melsta Corp and Distilleries Group of Sri Lanka (DCSL PLC), CILL takes pride in the fact that its parent company is among the few that have been assigned with the AAA Fitch Rating.

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