Sri Lanka Ceylinco Insurance says Maldives unit pays big dividend

Oct 09, 2009 (LBO) – The Maldives subsidiary of Sri Lanka’s Ceylinco Insurance said it had declared an interim dividend of 70 percent for its share holders for the year 2009. The majority shares of the Maldives subsidiary is owned by Ceylinco Insurance.

“Against a backdrop of worldwide recession that has seen companies struggle for survival, the results of Maldives Ceylinco Insurance reflects its significant performance and commitment to customer satisfaction,” said Ajith Gunawardena, Deputy Chairman of Ceylinco Insurance.

The Maldives has been performing well since inception, he said.

The company also has a branch on Addu atoll (Hitadaoo).

Ceylinco Insurance Co underwrites all classes of General Insurance products with special emphasis on hull and resort insurance.