Rs.124.6 million investments by the Life Division of Ceylinco Insurance in Ceylinco group companies have been written off in 2008 according to the company’s annual report.

Similarly, a total of Rs.260.7 million of share investments has been written off by the Non-Life Division in Ceylinco group companies.

The Non-Life Division had contributed Rs.95.7 million and the Life Division Rs.36.3 million to Ceylinco Insurance Co. Ltd. Employees Gratuity Trust Fund.

The Trustees of this Trust Fund are: Messrs. J.L.B. Kotelawala, S. Ratnadas, A.R. Gunawardena, R. Renganathan, W.C.J. Alwis, A.D. Jegasothy and T.N.M. Peiris.

The fund had advanced Rs.250 million "for the purpose of purchasing the shares of the Golden Key Eye Hospital (Pvt) Ltd. as at end of the year,’’ the report said.