Financial Times

Ceylinco Insurance surpasses Rs.20 bln revenue


Ceylinco Insurance said last week that its turnover had exceeded Rs.20 billion, recording a total premium income of Rs.20,050 million, representing a growth of 16.5% during 2008. For Ceylinco Insurance – General total premium income for the year was Rs.11.7 billion while the Life Division of Ceylinco Insurance recorded an annual premium income of Rs. 8.2 billion.

Commenting on the overall solid performance of the company, the Chief Executive Director of Ceylinco Insurance – General, Ajith Gunawardena, said: “This performance becomes all the more significant, as we have achieved these impressive results in a recession scenario, where all global financial markets are directly affected, and in a situation where Sri Lanka is also gradually feeling the ill effects of it.”
The technical reserves of the General Division stands at over Rs 5,225 million, while the Life Fund has increased to Rs.21.2 billion as at November 2008.

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