Ceylinco Insurance posts Rs 2.1 b PAT

Ceylinco Insurance recorded a after tax profit of Rs.2.1 billion, for the year ended December 31, 2014.

Contributing to this remarkable performance, the General and Life Divisions of Ceylinco Insurance, recorded profits after tax of Rs.780 million and Rs.1,363 million.

The consolidated results showed profit before tax reaching Rs. 4 billion, and the after tax profit of Rs.2.9 billion.

Building upon past successes and reiterating its position as the market leader for the 11th consecutive year, Ceylinco Insurance, in 2014, forged ahead of the competition.

The company recorded a premium income of Rs. 24.2 billion in 2014, with the General Division recording Rs.12.2 billion, an increase of nearly Rs.600 million year-on-year, and Ceylinco Life registering a premium income of Rs.12 billion.

Meanwhile, the Motor Insurance premium income was Rs.7.4 billion, with Non Motor Insurance contributing Rs. 4.8 billion, providing the total premium income of the General Division, which recorded a growth rate well above the annual industry average.

The total investments of the company were Rs.66.3 billion, growing by 12.5% over the past year.