Sri Lanka’s Ceylinco Insurance net up 55-pct

May 15, 2013 (LBO) – Sri Lanka’s Ceylinco Insurance, the island’s largest insurer by written premium said net profits rose 55 percent to 326 million rupees in the March 2013 quarter, from a year earlier. The firm reported earnings of 12.37 rupees per share.

Group gross written premium rose 10 percent to 6.0 billion rupees in the quarter from a year earlier, net premium after re-insurance rose 9 percent to 815 million rupees.

Benefits, losses and expenses rose 15 percent to 4.9 billion rupees.

Investment and other income rose 43 percent to 1.7 billion rupees.

Group assets rose to 79 billion rupees in the by end March 2013 from 73 billion rupees in December. Net assets rose to 14.2 billion rupees from 13.8 billion rupees.