Ceylinco Insurance books impressive history

Ceylinco Insurance, Sri Lanka’s pioneering insurance industry giant, recently launched a book that traces its unique journey of growth.

Authored by J. Godwin Perera, current Chairman of the company, the book titled ‘When the Going Gets Tough the Tough get Going’ covers the 72 year history of the company.

The book is essentially a journey through the times, consisting of historic pictures and recent milestones. The company believes it will be an ideal case study for entrepreneurs, students and the general public interested in great corporate success stories.

Founded by Hugh C. Weeresekere in 1939 as Ceylon Insurance Company, it has been steered through much during its history but has emerged a strong and vibrant entity, proud of its achievements which have gone on record as industry firsts.

The book traces the growth of the company, from its first office that opened in the C.S. Antony Building on Baillie Street (now known as Mudalige Mawatha) to the Darley Butler Building at 69, Queen’s Street (now known as Janadhipathi Mawatha) which was later reconstructed and became famous as the Ceylinco House.

Ceylinco House was at one time the tallest building in Colombo and was heavily damaged when the Central Bank bomb exploded in 1996. The building rose from the ashes and today houses the General Division of Ceylinco Insurance. Ceylinco Insurance Life Division occupies its own building on Havelock Road.

Perera outlines the company’s unique place in the insurance industry and the country, capturing key historic moments closely entwined with many momentous milestones. One such instance was the Japanese air attack on Colombo in April 1942 that forced the company to shift its offices to Homagama. He says this was some sort of a ‘dress rehearsal’ for the bomb attack in 1996 that devastated the company offices.

Among other historic touch points are the struggle for survival that followed the nationalisation of insurance, the LTTE bomb attack on the Central Bank, the Indian Ocean tsunami that came in 2004 and also traces the final LTTE air attack which damaged the People’s Bank building in 2009 became a story that must be told, tracing the company’s history, its achievements, its contribution to the insurance industry and the country’s economy.

In his quest to document an extraordinary story of courage, determination and commitment, Perera also reiterates that no other company in Sri Lanka has faced crisis as Ceylinco Insurance has – and emerged triumphant, able to turn crisis around into challenges to overcome.

Ceylinco Insurance has been steered through tough times by its charismatic head, Managing Director/CEO Ajith Gunewardena, emerging unscathed but stronger, experiencing growth and success, delivering results unparalleled to customers time and again. Ceylinco Life also faced challenging times but was able to perform exceptionally well under the guidance of its MD/CEO R. Renganathan.

The book also seeks to pay tribute to the company’s founders who nurtured it, believed in it and manoeuvred it through stormy seas. The book wraps it all up, aptly giving meaning to the title ‘When the Going Gets Tough the Tough get Going’.

Following the liberalisation of the insurance industry, Ceylinco Insurance has initiated several industry firsts that have been hailed as historic milestones in the industry. The introduction of its own sales force for the first time in Sri Lanka as way back as 1989 in an industry previously dominated by agents and brokers, introduction of innovative packaged policies, introduction of niche market products and on the spot claim settlement , to name a few, have been long recognised as key achievements.

Having revolutionised the insurance industry locally and globally with the first ever On The Spot claim settlement, Ceylinco Insurance has always strived to deliver services that exceed customer expectations.

A world first, VIP On the Spot insurance service ensured the customer has an unparalleled advantage – the service went on to set a new standard in the insurance industry with competition trying to emulate the Ceylinco Insurance model. Ceylinco VIP On the Spot is today recognised as the benchmark in insurance service provided to customers in Sri Lanka.

In keeping with a unique promise offered to customers, Ceylinco Insurance On the Spot covers all insurance products from Motor to all non-motor products such as Hospitalisation, Travel and Marine Insurance etc. Ceylinco Insurance has always thus kept their focus on ensuring that the customers obtain their settlements fast.

Ceylinco Insurance is also the first and only insurance company to win international awards for innovation with the ‘Innovation of the Year’ awards won twice over at the Asia Insurance Industry Awards. In addition, the company also was the first and only insurance company to win the People’s Insurance Company Award for five consecutive years and the National Business Excellence Awards for two years.