Ceylinco Insurance becomes only insurer in Sri Lanka’s Top 25 companies

26 November 2015 03:15 am

Patrick Alwis – Managing Director of Ceylinco General Insurance and Thushara Ranasinghe – Deputy Chief Executive Officer – Ceylinco Life Insurance, receiving the award from Prime Minister, Ranil Wickremasinghe


Ceylinco Insurance, once again earned the honour of being the only Insurance Company amongst the top 25 companies in Sri Lanka for the year 2014 / 2015, at a gala ceremony held at the Colombo Hilton recently. The occasion marked the fourth consecutive year that Ceylinco Insurance came out ahead in the insurance arena in the island, achieving a truly unique feat.

Prime Minister Ranil Wickremasinghe graced the awards ceremony as its chief guest. The Premier, delivering the keynote address, explained to the distinguished gathering of religious and business leaders and Parliamentarians, the government’s vision for our nation, on how to develop, both economically and socially, despite the numerous global uncertainties facing the modern world.

Announcing the Top 25 Companies in Sri Lanka, the October 2015 issue of the Business Today magazine, outlined the stringent criteria that needed to be fulfilled, including an impressive financial performance during the financial year ending December 31st, 2014 and March 31st, 2015. 

The financial information being reviewed for the selection process covered several aspects, which included: revenue, share turnover, profit after tax, growth in turnover, growth in profit, return on equity, growth in earnings per share, market capitalisation, value of shares transacted and value addition. Meanwhile, three years ago, ‘Business Today’ introduced an assessment method to evaluate corporate governance amongst the considered criteria, and it was and continues to be, widely believed that utilising such a method is likely to influence better transparency and enhance accountability in public listed companies, enabling continued public trust and confidence in the corporate sector of the country. 

“The Business Today Top 25; the leaders of corporate Sri Lanka, have a great responsibility. They have the experience, the ability, and the impetus to become global companies. The market is not only Sri Lanka, but overseas as well”, the October 2015 issue of ‘Business Today’, commented in relation to the nation’s corporate echelon.

In another record-breaking year, during 2014, Ceylinco Insurance recorded a premium income of Rs.24.1 billion, while up to the third quarter of 2015, Ceylinco General Insurance and Ceylinco Life Insurance, had together yielded an even more impressive total premium income of Rs.19.6 billion. Along with this honour, and having been hailed as the undisputed market leader in the Sri Lankan Insurance sphere for the 11th consecutive year, Ceylinco Insurance also enjoys the euphoria of having been voted the People’s Insurance Company, for the ninth consecutive year, reiterating the high regard with which the company is viewed by the general public, and its continuous contributions towards enhancing the socio-economic development of Sri Lanka.