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Thursday, 7 May 2015 00:00 - - {{hitsCtrl.values.hits}}
Ceylinco Insurance, the market leader in Sri Lanka’s insurance industry, announced an unparalleled dividend of Rs. 20 per share to its shareholders for 2014, which is a 200% dividend of the original share price. This is also an increase of 25% of the dividend declared in 2013.
Ceylinco Insurance said that the company had declared this dividend as a sign of appreciation for the tremendous trust placed in the company by shareholders and policyholders. Ceylinco Insurance believes that its success is a reflection of resilience and strength, expressed through the shareholder and customer confidence placed in the company.
The company emerged as the undisputed market leader in the insurance industry for the 11th year running, displaying ample evidence of its dominance in the local insurance industry.
Ceylinco Insurance during 2014 alone paid Rs. 10.9 billion as claims and benefits. The unprecedented amount of money provided in lieu of claim settlement and benefits reflects the company’s continuing commitment to ensuring timely claim settlement to all customers.
Commenting on the achievement, Ceylinco Insurance – General Managing Director/Chief Executive Officer Ajith Gunawardena said: “This kind of record dividend was made possible by the unwavering confidence placed in us by our customers and our shareholders, whose trust we value; and our staff, who went that extra mile to ensure the company maintained the highest standards in customer care, adding value to every aspect of the level of service we deliver. Good governance, sound management principles that maximised resources and skills, also helped the company achieve this level of success.”
Gunawardena added: “Marking another successful year, Ceylinco Insurance recorded a notable after tax profit of Rs. 2.1 billion, for the year ended 31 December 2014. Moreover, the consolidated results recorded a profit before tax of Rs. 4 billion, and the after tax profit stood at Rs. 2.9 billion. These figures speak volumes. Innovation has been the key to success for us – developing and initiating services, such as On the Spot Claim Settlement that delivers what is promised, and the largest network of branches that takes us closer to our customers; these have been important milestones in our success story. We are still the only insurance company in Sri Lanka to settle all claims, including non-motor claims, On the Spot.”
Commenting on the performance of the Life Division, where more than 139,777 new life policies were sold in 2014, Ceylinco Life Managing Director/Chief Executive Officer R. Renganathan said that the company’s performance was significant in view of the varied challenges faced in 2014. Ceylinco Life had paid out Rs. 4.8 billion in customer benefits during 2014.
