Ceylinco records Rs. 15.3 billion premium income in 2006

Ceylinco Insurance Co. Ltd., has retained its position as the market leader in Sri Lanka's competitive Insurance sector in 2006, with a premium income of Rs. 15.3 billion reflecting a consolidated growth of 19.5 per cent over 2005.

The company's Life Insurance Division Ceylinco Life's premium income of Rs. 5.7 billion represents a growth of 19 per cent.

The General Insurance Division has achieved a premium income growth of 19 per cent in the year to Rs. 9.6 billion, also consolidating its leadership in its segment.

Commenting on these results, Ceylinco Life's Chief Executive Director R. Renganathan said: "We are satisfied with the growth achieved, particularly in the context of the ever increasing levels of competition in the market.

The momentum we have built as the market leader and our commitment to continuous improvement in all spheres of activity enabled Ceylinco Insurance reinforce its market share in 2006, despite the challenging environment."

The company's Life Fund recorded a growth of 21 per cent to total Rs. 14.4 billion as at December 31, 2006.