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| Sunday, 4 August 2002 |
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| News Business Features Editorial
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Ceylinco Life tops Rs. 1.1 bln in first half Ceylinco Life's premium income has exceeded Rs. 1.1 billion for the first half of 2002, the first time the company topped a billion rupees in a six-month period. This record performance reflects a 24 per cent growth in premium income from the Rs. 888 million achieved in the first half of last year. Ceylinco Life's Director and General Manager, R. Renganathan said the company was confident it would for the second year running surpass the Rs. 2 billion mark in premium income by the end of the year. He said the company's Life Fund, the largest among private sector insurers had reached Rs. 5.98 billion as of June 30. Ceylinco Life had sold more than 30,000 policies in the first six months of the year and paid out Rs. 38.2 million in claims during the period. Advance payments to policy holders and maturity payments had totalled Rs. 109 million and Rs. 15.5 million repectively. Among the highlights of the company's first half performance were the payment of Rs. 300 million in bonuses for 2001 and the payment of special cash bonuses in the form of pension plans for more than 10,000 policy holders. The company has also relaunched Ran Daru child protection policy with new benefits. |
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