Ceylinco Life was crowned the most popular life insurance company in Sri Lanka for a record 18th consecutive year at the SLIM Kantar Peoples Awards presented by the Sri Lanka Institute of Marketing (SLIM) on March 19.
Ceylinco Life stands out as the only company in Sri Lanka’s life insurance sector win the award every year since the launch of the awards program.
Ceylinco Life Deputy Chief Operating Officer Samitha Hemachandra said: “Customer sentiment is the most important element in the success of any business, and to be the people’s choice for 18 years in a row is an amazing achievement in consistency. Our two decades of market leadership is based on the trust and confidence of our customers, and it is logical that Ceylinco Life has been the winner of the Peoples Award in that period.
“This award attests to the fact that Ceylinco Life exceeds the expectations of its customers and the community, and is looked up to as a corporate inspiration,” he said. The 2024 SLIM People’s Awards presentation was the eighth year that the awards in the insurance sector were presented separately to Life and General Insurance companies, following the segregation of these segments of insurance by law in 2015.
In the 10 years that preceded the segregation, Ceylinco Insurance PLC comprising of Ceylinco Life and Ceylinco General Insurance, won the award every year.
Ceylinco Life ended 2023 with gross written premium income of Rs. 33.41 billion and investment and other income of Rs. 28 billion, recording consolidated income of Rs 61.4 billion. Policyholders received Rs 23 billion in net claims and benefits in 2023, and the company’s Life’s Fund grew to Rs. 157.5 billion at the end of the year. Total assets grew to Rs. 224.7 billion while the Company’s investment portfolio increased to Rs 198.1 billion as at December 31, 2023.
