Impressive half yearly results for Ceylinco Insurance

Ajith Gunawardena

Managing Director and Chief Executive Officer of Ceylinco Insurance - General, Ajith Gunawardena said, "During the first half of 2011, the company recorded a premium income of Rs.9.6 b to which the General Division of the company contributed Rs.4.9 b with the Life Division recording Rs. 4.7 b.

Accordingly, the company has earned a profit before tax of Rs.268 m for the first half of 2011, indicating an increase of 120 percent over the corresponding period last year.

As at December 31, 2010, Ceylinco Insurance recorded a profit after tax of Rs. 803 m with the consolidated profit declared at Rs. 1,001 m an increase of 44 percent over the previous year.

As at June 30, 2011, the total assets of the company increased to Rs. 52 b which signified an increase of Rs. 2.8 b compared with December 2010.

The company's investments stand at Rs. 37.2 b while the Share Holders Fund is Rs.7.7 b.