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| Sunday, 26 June 2005 |
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Business |  |
| News Business Features Editorial
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Ceylinco Life records Rs.1,08 million premium income in Q1, 2005 Ceylinco Life has reported premium income of Rs. 1081 million in the first quarter of 2005, maintaining its overall leadership of the sector and extending its dominance in the new business segment. According to figures submitted to the Insurance Association by individual companies, Ceylinco Life leads the second placed insurer in the life insurance market by Rs. 174.6 million in total premium income, while premium income from new business in the quarter, at Rs. 497 million, is more than four times that of the second largest player in the sector. Commenting on this performance Ceylinco Life's Chief Executive Director R. Renganathan said: "We are clearly building on the overall leadership position we established in 2004, giving further credence to our claim to be the most trusted and customer responsive insurance company in the country." Ceylinco Life sold 40,782 new policies in the quarter ending March 31, 2005, a growth of 44.7 per cent over the corresponding quarter of last year. The company's total premium income for the quarter under review gives it market share of 31.9 per cent more than five per cent higher than the second placed insurer in the life segment. Ceylinco Life emerged as the industry-wide leader after maintaining its leadership among the private sector life insurers for more than a decade. A record-breaking performance in 2004 saw the company taking top spot as market leader in cumulative premium income. |
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