Ceylinco General Insurance records excellent results up to 3rd quarter 2016

Sri Lanka’s insurance giant, Ceylinco General Insurance Ltd., yesterday announced excellent results for the period ended September 2016, indicative of yet another remarkable year of growth.

Ceylinco General Insurance Chief Executive Officer Ajith Gunawardena, elaborating on the excellent performance of the company, said: “Up to the third quarter in 2016, the company recorded a premium income of Rs. 12 billion (Rs. 12,012 million), with an impressive growth of 23.3%, which signifies an increase of Rs. 2.3 billion over the same period last year, which I would say is an exceptional achievement. This trend will no doubt help us to end the year on a resoundingly successful note.”

Elaborating further on the mammoth figures, Ceylinco General Insurance Ltd. Managing Director Patrick Alwis said: “Ceylinco General Insurance paid claims amounting to Rs. 8.1 billion during the nine-month period ended September 2016, which is an increase of 70 % over the same period last year. The sharp increase in claim settlement is a result of the large number of flood claims we paid. Ceylinco General Insurance paid compensation to over 2,300 customers, amounting to Rs. 2.9 billion for property and vehicles damaged during the floods in May 2016. Claims were paid within a period of 14 days, enabling customers to return to normalcy in the fastest possible time. Some of these customers had only insured their vehicles, but not their homes, while some had insured their shops, but not their houses. However, Ceylinco Insurance, looking at the situation from a humane angle, decided to pay a percentage to compensate the damages to their homes as well.”

Further, during the period under review, Ceylinco General Insurance opened several new outlets, bringing the total number of branches past the 425-mark, allowing the company to better serve its ever-increasing, loyal customer base, at their very doorsteps. 

Ceylinco General Insurance recently announced that they would be providing a comprehensive Natural Disaster Cover for Traders and Homeowners, to cover their properties, including the buildings and the stocks of traders, and the home and its valuable contents, in the event of homeowners as natural disasters are more rampant than in the past.

“As always, this performance is entirely due to the unwavering faith the Sri Lankan public has placed in us, and the unrelenting efforts of each and every member of the Ceylinco General Insurance family. Our humble thanks and heartfelt gratitude are extended to all those who made such a feat possible, and we assure you of our continued efforts to bring better and faster solutions to benefit you even further, while never faltering in our yeoman endeavour to bring the safety and benefits of insurance to every Sri Lankan man, woman and child,” said Gunawardena.

Meanwhile, during 2016, Ceylinco Insurance once again had the honour and privilege of being voted by the Sri Lankan people as The People’s Insurance Company for the 10th consecutive year, while also being proud to be the only insurance company among the top 30 companies in Sri Lanka for 2015/2016, occupying the 15th position as announced by Business Today in October 2016. 

All such accolades and their consistency speak volumes to the strength and stability of Ceylinco Insurance, which remains unwavering in its efforts to set the standard ever higher.