Ceylinco Life's Life Fund crosses Rs 70b mark
Ceylinco Life said the company's Life Fund crossed the Rs 70 billion
mark in April this year. Its Life Fund had grown by Rs 2.75 billion in
just four months, enabling it to become the fastest to cross Rs 70
billion in Sri Lanka.
"This is an important milestone for the company because the size of
the life fund is one of the key benchmarks for the financial strength of
a life insurance company," Ceylinco Life, Managing Director and CEO, R.
Renganathan said. Ceylinco Life also reported that total assets of the
company had grown by 4.3 percent since December 2015 to Rs. 83.6 billion
at the end of April, and that its investment portfolio had increased by
Rs. 2.57 billion over the four months.
The company's investment portfolio at April 30, 2016 comprised
Government Securities (62 per cent); Licensed Private Banks (7 percent);
State Banks (1 percent); Real Estate (8 percent); Corporate Debt (21
percent) and Other Investments (1 percent). These investments are made
in conformity with the investment guidelines stipulated under the
Regulation of the Insurance Industry Act No 43 of 2000 and are subject
to regular monitoring by the Insurance Board of Sri Lanka (IBSL).