Ceylinco Insurance to sustain growth momentum

Ceylinco Insurance General Division which achieved a milestone with a profit of Rs. 1 billion last year will sustain the growth momentum through a vibrant distribution and sales network, said Chief Executive Director Ceylinco Insurance General Division, Ajith Gunawardena.

He said the company will launch 100 distribution outlets in major towns and villages this year to strengthen its distribution network and sustain the growth momentum.

“We will take our products and services to customers in the village and offer them unique benefits which our competitors will not be able to match”, Gunawardena said.

The company which has launched an aggressive marketing campaign will offer products for the health, financial and key business sectors with benefits similar to those offered to VIP motor insurance policy holders.

The Sathkara Fund, an initiative of Ceylinco Group Chairman, Dr. Lalith Kotelawala was set up to assist policy holders to claim insurance in areas which are not covered in their policy. The company has allocated Rs. 120 million for the Fund.

Gunawardena said the company will commence operations in Saudi Arabia this year to increase its presence in the region. General Division offices were set up in the Maldives, Nepal, Bangladesh, UAE, Oman, Bahrain, Doha Qatar and Kuwait.

Ceylinco Insurance was the first to revolutionise the motor insurance market in the country and in the world with the VIP On the Spot claim settlement. The On the Spot claim settlement was extended last year to cover all products.

The company launched the VIP Three in One motor insurance policy which offers a no claim bonus, increases the value of the vehicle by 10 per cent annually and payment of lease instalments for repairs exceeding three months.

The company was awarded the fourth most valuable brand last year and the most innovative insurance company in Asia in 2004.

LF