Getting Bigger

Ceylinco Life, Sri Lankas largest private insurer, has ended the year with a record Rs 2.360 bn in premium income.
Figures released this week show that the company continued to outperform its closest rival by more than Rs. 500 mn in terms of premium income, the firm said in a release on Monday.rn

rnThe firms Life Fund grew 31 percent to Rs 6.8 bn for the fiscal year ending Dec. 31, 2002, which makes it more than a billion rupees bigger than that of the second placed insurer in the sector, the firm claims.rn

rnCeylinco Life Director/General Manager R Renganathan says the company sold more than 60,000 new policies in the year under review, at a healthy average of 5000 a month, which is a tribute to the professionalism and motivation of its sales staff.rn

rnThe total amount declared and paid to the policyholders as advance payments, maturity payments, claims and bonuses during the year exceeded Rs. 675 mn.rn

rnCeylinco Insurance Co. Ltd.s premium income for the year consolidated with that of its G