Marking another remarkable year, the Ceylinco Insurance sector recorded a mammoth after tax profit of Rs.3.1 billion, for the year ended 31st December 2015. Contributing to this remarkable performance, Ceylinco General Insurance and Ceylinco Life Insurance recorded profits after tax of Rs.1 billion and Rs.2.1 billion, respectively. Moreover, the consolidated results recorded an imposing expansion, with the profit before tax reaching an exceptional Rs.4.2 billion, and the after tax profit standing at Rs.3.8 billion.
As the clear market dominator, and consolidating its leadership position further for the 12th consecutive year, Ceylinco Insurance, in 2015, remained far ahead of the competition. Thus, the Company managed to return an impressive premium income of Rs.27 billion in 2015, with Ceylinco General Insurance recording Rs.13.5 billion, marking a growth of 11.4%;an increase of nearly Rs.1.4 billion year on year, just as Ceylinco Life Insurance registered a premium income of Rs.13.45,marking a growth of 12.1%;an increase of Rs.1.4 billion. Meanwhile, the premium of the flagship brand Ceylinco VIP alone stood at a staggering Rs.8.1 billion, with Non Motor Insurance contributing an impressive Rs.5.4billion, allowing the total premium income of Ceylinco General Insurance to record yet another fantastic year.
Referring to its performance, Ceylinco Life Insurance Managing Director/ Chief Executive Officer, R. Renganathan, opined: "The year 2015 marks a twelve year period of unbroken market leadership for Ceylinco Life Insurance in the long term insurance segment. This is an incredible achievement, given the context of ever-increasing competition and the short - sighted tactics employed by smaller players in the market, in a bid to achieve short-term growth. The prime focus of Ceylinco Life has always been on the principal basis for Life Insurance - to provide assurance of the best possible protection to policyholders and their loved ones." - Ceylinco Insurance
As the clear market dominator, and consolidating its leadership position further for the 12th consecutive year, Ceylinco Insurance, in 2015, remained far ahead of the competition. Thus, the Company managed to return an impressive premium income of Rs.27 billion in 2015, with Ceylinco General Insurance recording Rs.13.5 billion, marking a growth of 11.4%;an increase of nearly Rs.1.4 billion year on year, just as Ceylinco Life Insurance registered a premium income of Rs.13.45,marking a growth of 12.1%;an increase of Rs.1.4 billion. Meanwhile, the premium of the flagship brand Ceylinco VIP alone stood at a staggering Rs.8.1 billion, with Non Motor Insurance contributing an impressive Rs.5.4billion, allowing the total premium income of Ceylinco General Insurance to record yet another fantastic year.
Referring to its performance, Ceylinco Life Insurance Managing Director/ Chief Executive Officer, R. Renganathan, opined: "The year 2015 marks a twelve year period of unbroken market leadership for Ceylinco Life Insurance in the long term insurance segment. This is an incredible achievement, given the context of ever-increasing competition and the short - sighted tactics employed by smaller players in the market, in a bid to achieve short-term growth. The prime focus of Ceylinco Life has always been on the principal basis for Life Insurance - to provide assurance of the best possible protection to policyholders and their loved ones." - Ceylinco Insurance
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