Continental Insurance reaches new heights with 30% growth to Rs. 1.87 b

Wednesday, 25 February 2015 00:00 - - {{hitsCtrl.values.hits}}

Continental Insurance Ltd. said yesterday it has recorded highest growth in gross written premium of 30% and 25% in net profit since beginning its operations five years ago. Continental Insurance has established itself as a key player in the industry by expanding to 35 branches island-wide and increasing its market share to 3.5% in the General Insurance sector.

CILL offers a diverse product portfolio to its customers encompassing property, motor, marine and general accident insurance. CILL’s diverse portfolio is matched by its fast track claim settlement done within 24 hours from the time the claim is lodged. CILL’s (A-) Fitch rating reflects the financial stability of the organisation. It further enhances the confidence of the policy holders to entrust business with absolute assurance. CILL’s Managing Director Chaminda De Silva commended the high performance of CILL in 2014. Further he added that this was achieved by the organisation independently without any merger with financial organisations or entities. The captive business accounts for only 6.5% of the total GWP which indicates an increase in non-related customer business volumes. Being a fully owned subsidiary of MelstaCorp and Distilleries Group of Sri Lanka (DCSL PLC), CILL takes pride in the fact that its parent company is among the very few that have been assigned with the well reputed AAA Fitch Rating. Adding onto their stellar portfolio of achievements, DCSL PLC has also been distinctively featured on Forbes Asia’s exclusive – ‘200 best under a billion’ list. As one of the topmost conglomerates in Sri Lanka, having Continental Insurance Lanka Ltd under its umbrella, has undoubtedly served as a pillar of strength and stability in the professionalism of their service standards. CILL’s Board of Directors comprises D.H.S. Jayawardena (Chairman), Chaminda De Silva (Managing Director), Asoka Abeyewardena, Harsha Wickramasinghe, Amitha Gooneratne and Ajit Jayaratne.