By J. Kurukulasuriya
Ceylon FT: Ceylinco Insurance Co PLC released its interim financial statements for the 12 months ended 31 December 2013, showing an increase in Gross Written Premia of 4.6% to 23,691 million, with both Life and Non Life Insurance increasing. Net Income increased 12% to 30,396 million.
Revenue from subsidiary companies increased 31%, and investment/other income was up 36% to Rs 8,099 million, but finance costs increased 128% during the 12 months. Life Insurance was the main contributor to revenue.
The consolidated profit after tax for the period improved by 37% to Rs 2,869 million over the previous year.
The balance sheet shows a stated capital of Rs 1,324 million, with reserves and retained earnings of Rs 16,460 million. Among the Group's liabilities, 'other financial liabilities' increased markedly from Rs 16 million to Rs 1,777 million.
The number of shares in issue as at 31December 2013, was voting–20,000,000 and non voting -6,414,480 shares. Stated Capital was Rs 1,324 million.
During the quarter, shares traded at a high of Rs 1,400 and low of Rs 1,100 for ordinary shares and a high/low respectively of Rs 409 and 355 for non voting shares.
Ceylon FT: Ceylinco Insurance Co PLC released its interim financial statements for the 12 months ended 31 December 2013, showing an increase in Gross Written Premia of 4.6% to 23,691 million, with both Life and Non Life Insurance increasing. Net Income increased 12% to 30,396 million.
Revenue from subsidiary companies increased 31%, and investment/other income was up 36% to Rs 8,099 million, but finance costs increased 128% during the 12 months. Life Insurance was the main contributor to revenue.
The consolidated profit after tax for the period improved by 37% to Rs 2,869 million over the previous year.
The balance sheet shows a stated capital of Rs 1,324 million, with reserves and retained earnings of Rs 16,460 million. Among the Group's liabilities, 'other financial liabilities' increased markedly from Rs 16 million to Rs 1,777 million.
The number of shares in issue as at 31December 2013, was voting–20,000,000 and non voting -6,414,480 shares. Stated Capital was Rs 1,324 million.
During the quarter, shares traded at a high of Rs 1,400 and low of Rs 1,100 for ordinary shares and a high/low respectively of Rs 409 and 355 for non voting shares.
The company's main shareholders are Ciesot Private Ltd., with 22%, Global Rubber Industries Private Ltd., with 21%, and Pictet & Cie with 10%.
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