Ceylinco Insurance opens trading at CSE to mark S&P SL 20 inclusion

Wednesday, 27 June 2018 00:13 - - {{hitsCtrl.values.hits}}

From left: Dilshan Wirasekara, Patrick Alwis, Thushara Ranasinghe, R. Renganathan, Ray Abeywardena, Ajith Gunawardena, Godwin Perera, Nihal Peiris, Anton Godfrey and Rajeeva Bandaranaike

Ceylinco Insurance Plc yesterday rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) as part of a ceremony organised to mark the company’s inclusion in the S&P SL 20 Index.

The S&P SL 20 Index includes the 20 largest companies by total market capitalisation listed on the CSE that meet minimum size, liquidity and financial viability thresholds.

CSE Chairman Ray Abeywardena, speaking at the ceremony, congratulated Ceylinco for its inclusion in the S&P SL 20 Index and commended the company for remarkable growth since its initial listing, which has seen the company grow its market capitalisation to Rs. 33.6 billion from Rs. 55 million since 1988.

Abeywardena added that such compelling progress and the company’s active involvement with the capital market has offered investors value over the years and opportunities to be a part of the company’s growth.

Ceylinco Insurance Plc MD/CEO Ajith Gunawardena, speaking at the event, credited the strong performance of Ceylinco over the years to its staff, valued customers, innovative products and a strong distribution network venturing into all parts of the country. Gunawardena went on to express the company’s commitment to continue its growth agenda and offer further value to its shareholders.

Ceylinco Insurance PLC Chairman Godwin Perera, Ceylinco Insurance Plc MD/CEO Ajith Gunawardena, Ceylinco Life Insurance Ltd. MD/CEO R Renganathan, Ceylinco General Insurance Ltd. MD/CEO Patrick Alwis, Ceylinco Life Insurance Ltd. Deputy CEO Thushara Ranasinghe and Ceylinco General Insurance Ltd. Head of Finance Nihal Peiris were present at the event. Chairman Abeywardena, Directors Anton Godfrey and Dilshan Wirasekara, CEO Rajeeva Bandaranaike and the senior management of CSE were also present at the occasion.

The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS®), which was co-developed by S&P Dow Jones Indices and MSCI and is widely used by market participants throughout the world.