Mitsui Sumitomo buys 4.5% Ceylinco Insurance stake for Rs. 1.6 b

Japan’s Mitsui Sumitomo Insurance Company Ltd has increased its stake in Ceylinco Insurance PLC to 10.5%.This was following the purchase of 900,000 shares at Rs. 1,800 each on Monday (2 April).  Prior to the latest purchase, Mitsui Sumitomo held 1.2 million shares (or 6% stake) as of 31 December 2017. Sumitomo is now the third largest shareholder in Ceylinco Insurance after Global Rubber Industries (22.25%) and Banque Pictet & Cie SA (12.73%).