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Representatives of Ceylinco Life and the company’s marketing team led by General Manager – Marketing Samitha Hemachandra (third from right) accept the SLIM-Kantar People’s Award
Sri Lankan consumers have chosen Ceylinco Life, which recently celebrated its 35th anniversary, as the most popular life insurance company in the country for an unprecedented 17th consecutive year, leading to the life insurance leader receiving the prestigious SLIM Kantar People’s Award at the awards gala hosted by the Sri Lanka Institute of Marketing (SLIM) recently.
This award is based on consumer preferences as determined by the results of a survey instead of by a panel of judges, making it a true reflection of popular sentiment. Ceylinco Life is the only company in Sri Lanka’s life insurance sector to be accorded this honour every year since the inception of the awards program.
This emphatic reaffirmation of Ceylinco Life’s popularity came hot on the heels of the announcement of the company’s financial results for 2022, which confirmed its dominant status as the market leader in Sri Lanka’s life insurance industry for the 19th consecutive year. Ceylinco Life policyholders received a mammoth Rs. 19 billion in net claims and benefits in 2022, and the company recorded gross written premium income of Rs. 29.16 billion for the year, reflecting growth of 14%.
Ceylinco Life General Manager – Marketing Samitha Hemachandra said: “We are naturally delighted to be chosen as the best life insurer in the country by a people-led jury that recognises Ceylinco Life for having won the hearts and minds of the consumers. By consistently winning this award, Ceylinco Life has established that it is a brand that is completely attuned to the voice of its customers and has invested in the lives of the people it serves, both by de-risking their futures and by adding value to their lives through multiple community initiatives.”
The purpose of the People’s Awards is to reward and recognise brands and personalities that are closest to the hearts of the Sri Lankan people. A hallmark awards event of the Sri Lanka Institute of Marketing, the awards program is the result of a collaboration between the Institute and Kantar Group, UK. The award winners are chosen solely by people’s votes, through country-wide research conducted by Kantar and honour the country’s top brands across multiple sectors each year, with respondents to the survey asked to mention their favourite brands and personalities across various categories. The theme for the latest edition of SLIM-Kantar People’s Awards was “Choices define us.”
The 2023 SLIM People’s Awards presentation was the seventh year that the awards in the insurance sector were presented separately to Life and General Insurance companies, following the segregation of these segments of insurance by law in 2015. In the 10 years that preceded the segregation, Ceylinco Insurance PLC comprising of Ceylinco Life and Ceylinco General Insurance, won the award every year.
Ceylinco Life ended 2022 with assets of Rs. 191.5 billion, consolidated income of Rs. 45.63 billion, a Life Fund of Rs. 134.9 billion and an investment portfolio of Rs. 165.9 billion.
