Ceylinco Life won the joint Silver Award in the ‘Insurance Companies’ category for its 2020 Annual Report at the recent CA Sri Lanka awards that recognise the best financial reports produced in the country.
Titled ‘Derisking the Future,’ Ceylinco Life’s Integrated Annual Report 2020 won the Company its first CA Sri Lanka Award at this competition that encourages transparency, corporate governance, sustainability and social responsibility in annual reporting practices.
Commenting on this achievement, Ceylinco Life Director and CFOMrPalithaJayawardenasaid: “The Annual Report remainsthe single most important medium for any organisation that is serious about presenting its shareholders a comprehensive and transparent review of its operations. We are therefore proud to have our Annual Report recognised by the foremost professional accountancy body in Sri Lanka, as this is a testament to the company’s professionalism, integrity and commitment to disclosure to our stakeholders.”
Ceylinco Life’s Annual Reports have won local and international recognition in recent years. These include being ranked among the ‘10 Best Integrated Reports’ at the 2020 ‘CMA Excellence in Integrated Reporting’ awards of the Institute of Certified Management Accountants (CMA), and a total of five awards won at the ARC Awards presented by MerComm Inc. in Tokyo (2017) and New York (2016).
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) conducted the 56th edition of the prestigious Annual Reports Awards competition this year, incorporating new concessions on account of COVID-19, while also automating the marking system for the first time in the competition’s history. The competition on-boarded the Colombo Stock Exchange (CSE) as its official strategic partner for the seventh consecutive year.
According to CA Sri Lanka, a fundamental benefit of the Annual Reports Awards competition is that it enables organisations producing annual reports to transform their reporting methodology and style, helping investors and other stakeholders gain better insight into the organisations’ operations and achievements.