Ceylinco General Insurance records Rs. 19.1 b premium income in 2018 | Sunday Observer

Ceylinco General Insurance records Rs. 19.1 b premium income in 2018

Patrick Alwis
Patrick Alwis

Ceylinco General Insurance Ltd., has reported excellent results for the financial year ended December 31, 2018.

Managing Director/Chief Executive Officer, Ceylinco General Insurance Patrick Alwis said, “It gives me immense pride to state that during 2018, the company recorded a premium income of Rs. 19.1 billion (Rs. 19,186 million), which signifies an increase of Rs. 1.2 billion over the previous year.

“This performance is even more valuable against the backdrop of volatile conditions that prevailed during the last financial year. Despite the price undercutting practiced by some players, customers have understood the value of Ceylinco VIP On The Spot.

“It is the loyalty and support of our customers that inspires us to raise the bar by delivering a breakout financial performance every year. Our success is the result of the effort of every member of the Ceylinco General Insurance family.

“We remain committed to providing an enhanced and superior service to our customers. Our differentiation is not on price but on our exemplary claim settlement and the value we add to our products and services.

“Ceylinco General Insurance paid claims amounting to Rs. 9.3 billion (Rs. 9,299 million) during 2018, settling all genuine claims within 24 hours. We assure the insuring public of our continued efforts to bring better and faster solutions to benefit them even further.

“In 2018, Ceylinco General Insurance recorded another breakthrough in general insurance by extending its serious illness benefit offered to Ceylinco VIP policy holders to all non-motor policy holders as well.

“Hence, they are entitled to a cover of up to Rs. one million that reimburses medical costs incurred in the treatment of heart disease, cancer, kidney failure, stroke and several other serious illnesses,” he said.