Ceylinco Insurance feted for 5th consecutive year as only insurer among Sri Lanka’s ‘Top 30 Companie

Ceylinco Insurance Managing Director/Chief Executive Officer Ajith Gunawardena receiving the award from Minister of Finance Ravi Karunanayake as Minister of Transport and Civil Aviation Nimal Siripala De Silva looks on

Ceylinco Insurance moved up the corporate ladder to the 15th position and once again earned the honour of being the only insurance company amongst the ‘Top 30 Companies’ for the year 2015 / 2016. 

Sri Lanka’s top 30 companies were feted at a gala ceremony held at the Hilton, Colombo recently. The occasion marked the fifth consecutive year that Ceylinco Insurance came out ahead in the insurance arena in the island, achieving a truly unique feat.

Prime Minister Ranil Wickremesinghe, accompanied by Prof. Maithree Wickremesinghe, graced the awards ceremony as its Chief Guest. The Premier, delivering the keynote address, elaborated on the development plans of the Government, its approach towards countering the numerous challenges faced by Sri Lanka in the economic sphere, his plans to integrate the economy with the rest of the world and finally outlined his vision for our nation. 

A distinguished gathering of religious and business leaders representing a diverse spectrum of businesses and Parliamentarians were present at the occasion. 

Announcing the ‘Top 30 Companies’ in Sri Lanka, the October 2016 issue of the Business Today magazine outlined the rigorous process followed in selecting the ‘Top 30’ and the criteria that needed to be fulfilled which includes the performance during the financial year ending 31 December 2015 and 31 March 2016. 

The financial information being reviewed for the selection process covered several aspects, which included: 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. 

The assessment methods also include corporate governance amongst the considered criteria, and utilising such a method will no doubt influence better transparency and enhance accountability in public listed companies, enabling continued public trust and confidence in the corporate sector of the country. 

“We congratulate the ‘Business Today Top 30’, 2015-2016 for their excellent performance and it is our sincere wish that they continue to perform while seeking new markets, thereby taking Sri Lanka to the world,” the October 2016 issue of ‘Business Today’ commented in relation to the nation’s corporate echelon.

In another record-breaking year, in 2015, Ceylinco Insurance recorded a premium income of Rs.27 billion, while up to the third quarter of 2016, Ceylinco General Insurance and Ceylinco Life Insurance had together yielded an even more impressive total premium income of Rs. 23 billion. 

Along with this honour, and having been hailed as the undisputed market leader in the Sri Lankan Insurance sphere for the 12th consecutive year, Ceylinco Insurance also enjoys the euphoria of having been voted the People’s Insurance Company for the tenth consecutive year, reiterating the high regard with which the company is viewed by the general public, and its continuous contributions towards enhancing the socio-economic development of Sri Lanka.