Ceylinco Insurance , recognised as the country’s leading insurance company, announced impressive results for the 01st half of 2009. Announcing the results, Ajith Gunawardena commented " During the first half of 2009 , the company recorded a total premium income of Rs 8.2 billion, out of which the General Division contributed with Rs 4.5 billion whist Life Division recorded Rs 3.7 billion.
The company has earned a profit before tax of Rs 279 million for the same period. As at 30 June 2009, total assets of the company increased to Rs 38.2 billion, recording an increase of Rs 800 million when compared with December 2008. Company’s investments stood at Rs 23.8 billion."
In keeping with its promise of timely settlement to customers, the company has paid out Rs 4.3 billion as claims during the 1st half of 2009 when compared to Rs 3.7 billion paid during the first half of 2008, showing an increase of 16 % .
The insurance industry recognises Ceylinco Insurance as the only company that settles all claims on the spot, an achievement unmatched as yet . " Our unique claim settlement on the spot has resulted in increased customer confidence. It also means the customers can get their claim settled without hassle . " Gunawardena says, commenting on the On the spot claim settlement.
The company’s Unearned General Insurance Fund stands at Rs 5.6 billion with a Solvency Margin of 165 % for the General Division and 613 % for the Life Division which speaks volumes for its financial strength and its ability to meet the liabilities . The company’s Share Holders Fund stands at Rs 6.5 billion.