Ceylinco Insurance declares 225% dividend

Ceylinco Insurance PLC has declared a dividend of Rs.22.50 per share to its shareholders for 2015, which constitutes a 225% dividend of the original share price, a company press release said.

This is also an increase of 12.5% of the dividend declared in 2014. Ceylinco Insurance PLC said the company declared this dividend due to the outstanding results of its two wholly owned subsidiaries, Ceylinco General Insurance Ltd and Ceylinco Life Insurance Ltd.

Ceylinco Insurance PLC said its success is a reflection of its resilience and strength, expressed through the shareholder and customer confidence in the company.The revenue of Ceylinco Insurance PLC exceeded Rs.34.6 billion in 2015 with its insurance sector contributing Rs. 32 billion, the education sector Rs.2.1 billion, the power and energy sector Rs. 445 million, with the others contributing the balance.

Managing Director and Chief Executive Officer, Ceylinco Insurance PLC, Ajith Gunawardena said, “This record dividend, probably the highest dividend declared by a company in the financial sector was made possible by the unwavering confidence placed in us by customers and shareholders, whose trust we value, and our staff, who ensured that the company maintained the highest standards in customer care, adding value to every aspect of the level of service we deliver.”

“Good governance, coupled with sound management principles that maximised resources and skills, also helped the company achieve this level of success,” he said.

Director, Ceylinco Insurance PLC and Managing Director of Ceylinco Life Insurance, R. Renganathan said, “The Insurance sector of Ceylinco Insurance PLC emerged as the market leader in the insurance industry for the 12th year, displaying ample evidence of its dominance in the insurance industry in Sri Lanka.”

“Ceylinco General Insurance and Ceylinco Life Insurance paid Rs.12.5 billion in claims and benefits during 2015.

“The unprecedented amount of money provided in lieu of claim settlement and benefits reflect the continuing commitment of both companies to ensure timely claim settlement to all customers,” he said.