Ceylinco Insurance feted for 3rd consecutive year as sole insurer in Sri Lanka’s ‘Top 25 Companies’

Thursday, 11 December 2014 00:00 - - {{hitsCtrl.values.hits}}

Ceylinco Insurance once again earned the honour of being the only insurance company amongst the top 25 companies in Sri Lanka for the year 2013/2014, at a recent ceremony held at the Colombo Hilton. This marks the third consecutive year that Ceylinco Insurance has been named amidst the top 25 companies in Sri Lanka, and being the only insurance company during the last three consecutive years to be amongst the top 25 companies in Sri Lanka makes the achievement all the more unique.

Ceylinco Insurance – General Managing Director/CEO Ajith Gunawardena and Ceylinco – Life Managing Director/CEO R. Renganathan soon after receiving the award with Defence Secretary Gotabaya Rajapaksa and Chief Justice Mohan Peiris The awards ceremony was attended by Secretary to the Ministry of Defence and Urban Development Gotabaya Rajapaksa as the Chief Guest, and Chief Justice Mohan Peiris as Special Guest. Rajapaksa delivered the keynote address, amidst a distinguished gathering of business and religious leaders and several Parliamentarians. Business Today magazine, in its November issue, announced the ‘Top 25 Companies’ in Sri Lanka, selected on the basis of impressive financial performance, during the financial year ending 31 December 2013 and 31 March 2014. In selecting the ‘Top 25 Companies,’ the financial criteria under consideration covered revenue, share turnover, profit after tax, growth in turnover, growth in profit, return on equity, growth in earnings per share, market capitalisation, value of shares transacted and value addition. Two years ago, ‘Business Today’ introduced an assessment method for corporate governance amongst the evaluation criteria. It is widely believed that utilising such a method is likely to influence better transparency and enhance accountability in public listed companies, enabling restoration of public trust and confidence in the corporate sector of the country. “The Business Today Top 25 are a reflection of the corporates who have shown their strength, perseverance and ability to perform under any circumstance,” the November issue of ‘Business Today’ revealed, outlining the criteria relating to the selection of the country’s top companies. During 2013, Ceylinco Insurance recorded a premium income of Rs. 22.7 billion, while the first half of 2014, saw Ceylinco Insurance yield a total premium income of Rs. 11.7 billion. Additionally, as at 30 June 2014, the total assets of the company stood at Rs. 93.3 billion, signifying an increase of Rs. 11.1 billion, when compared to Rs. 82.2 billion, in December 2013. Meanwhile, the company’s investments stand at Rs. 70.9 billion. Moreover, the company has paid out Rs. 7.8 billion, as claims, up to the third quarter of 2014. Having been hailed as the undisputed market leader in the insurance industry for the 10th consecutive year, Ceylinco Insurance enjoys the distinct privilege of being voted by the Sri Lankan people, as the People’s Insurance Company, for the eighth consecutive year, which further signifies the company’s contribution towards the socio-economic development of Sri Lanka, through the adoption of efficient methodologies and proper business practices.