Co-operative Insurance wins Gold at Annual Report Awards

Co-operative Insurance Company Ltd. received four awards in the insurance sector, including the gold award for the overall report, at this year’s Annual Report Competition (ARC) held in New York. Co-operative Insurance Company Ltd.’s 2011 annual report – ‘Our Reach Spreads Far and Wide’ – surpassed annual reports from China, Turkey and Bahrain, amongst others, to win the gold award.

The company won bronze awards in the Cover Photo/Design, Interior Design and Illustrations categories.

ARC is the world’s largest, independent awards competition and is dedicated to defining a standard of excellence in annual reporting. Now in its 26th year, this competition draws entries from 60 countries worldwide.

Chairman of Co-operative Insurance Company W. Lalith A. Peiris said: “Winning an ARC award exemplifies the company’s outstanding ability to speak to its stakeholders in a creative, concise and strategic manner, while aiding the company to attain a competitive edge.”

Co-operative Insurance Company is the only Sri Lankan company in the insurance category to win multiple awards at the international ARC ceremony. The company was also awarded a Certificate of Compliance for their annual reports, consecutively for three years by the Institute of Chartered Accountants of Sri Lanka.

Co-operative Insurance Company Ltd.’s annual report enjoys such success by having met increasing stakeholder demands for more disclosure and integrated reporting, with high-quality information, relevant content and clear messages. The report contains the company’s financial results as well as its social responsibility, corporate governance and risk management initiatives.

The design of the annual report focused on Co-operative Insurance Company Ltd.’s recent, most significant achievement, which was the nation-wide expansion of its service locations; hence the title of the report – ‘Our Reach Spreads Far and Wide’. This strategy was illustrated in the report by featuring a thriving, lush village scene, dotted with Co-operative Insurance Company service centres. The vibrant lifestyle that is portrayed speaks to the Co-operative system’s identity in Sri Lankan communities as a life-sustaining institution.

Smart Media – the annual report company – produced Co-operative Insurance Company Ltd.’s prize winning annual report for the financial year 2011. This triumph was amongst 52 other categories in which Smart Media won accolades at the ARC ceremony.