Consolidated premium income tops Rs. 7,358 m; Life Division grows 24%:

Ceylinco Life extends leadership gap in 1st half '06

Ceylinco Life has extended its leadership in the first half of 2006 with premium income of Rs. 2,735 million.

This figure for the six months ending June 30, 2006, represents a healthy growth of 24 per cent over the corresponding period of last year and gives Ceylinco Life a substantial lead over its competitors, the company said this week.

Ceylinco Life's premium income consolidated with the premium income of the Ceylinco General Insurance Division adds up to a total premium income of Rs. 7,358 million for the first half of 2006.

Commenting on these results, Ceylinco Life's Chief Executive Director R. Renganathan said: "It is very pleasing to note that we have maintained the sales momentum built over the past two years. In the first half of this year, despite the very challenging conditions that prevailed in this period." Ceylinco Life sold 82,958 new policies in the six months reviewed, at an average of more than 13,800 a month, or 460-plus new policies every day.

The company's Life Fund, which stood at Rs. 11.9 Billion at December 31, 2005, exceeded Rs. 13 Billion (Rs. 13,025 million) as at June 30, 2006, consequent to a transfer of more than Rs. 1,100 million for the first half of the year.