Ceylinco Life has settled more than 5,000 claims in the first four months of 2009, the company said this week. It paid out nearly Rs 131 million in respect of 5,017 policies between January and April this year, of which more than 74 % or Rs 97.4 million were death claims.
“We continue to maintain our record of speedy and hassle-free settlement, which is one of the benchmarks of a well-run insurance business,” Ceylinco Life Deputy Chief Executive Director Thushara Ranasinghe said, in a company press release.
“The largest number of claims (4,324) represented hospital cash benefits. Other claims settled were in respect of major surgery policies, critical illness (Ceylinco Family Digasiri), and partial or permanent disability,” he added.
He said Ceylinco Life had maintained its growth momentum in terms of new business in the first quarter of the year, helped by innovative campaigns such as its ‘Life Insurance Week’ and ‘Family Savari’ promotion. The company had also maintained its high solvency margin, one of the primary yardsticks of financial stability. At the end of 2008, Ceylinco Life’s solvency margin was five times that required by statute. |
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