Ceylinco General Insurance PAT increases 286% | Sunday Observer

Ceylinco General Insurance PAT increases 286%

Patrick Alwis and Ajith Gunawardena
Patrick Alwis and Ajith Gunawardena

Ceylinco General Insurance Ltd in a statement said that the company’s profit after tax increased by 286% for the period ended June 2017.

Chief Executive Officer of Ceylinco General Insurance, Ajith Gunawardena elaborating on the excellent performance of the company, said: “The company recorded a premium income of Rs. 8.7 billion (Rs. 8,738 million) up to the 2nd quarter in 2017, with an impressive growth of 11.4 %, which signifies an increase of almost Rs. 900 million over the same period last year, which I would say is an exceptional achievement.

More over, the company recorded an after tax profit of Rs. 431 million with an increase of 286 %, for the period ended 30th June 2017 whilst the profit before tax stood at an exceptional Rs . 611 million.

As a result, Ceylinco General Insurance has maintained its unassailable lead. This is in the midst of stiff competition.

This strong growth trend will no doubt help us to end the year on a resoundingly successful note”. Managing Director of Ceylinco General Insurance Ltd., Patrick Alwis said, “Ceylinco General Insurance paid claims amounting to Rs. 4.9 billion during the 6 month period ended June 2017.

A large number of flood claims were paid to over 1,400 customers thus enabling them to return to normalcy in the shortest possible time.

Staff of Ceylinco General Insurance acted promptly to pay compensation within 14 days to all of its policy holders with flood cover who were affected by the devastating floods we experienced in May – June this year”

Recently in another move, Ceylinco General Insurance announced another breakthrough in Motor Insurance - a Rs. One Million cover that will reimburse medical costs incurred in the treatment of heart disease, cancer, kidney failure, stroke and several other serious illnesses including heart attack and open heart surgery, major organ transplants, chronic lung and liver diseases, deafness, blindness, multiple sclerosis, paralysis etc as an exclusive benefit for Ceylinco VIP On The Spot policy holders

During the early part of the year, Ceylinco General Insurance embarked on an immense CSR initiative: ‘Ceylinco VIP Akurata Saviyak’, providing financial assistance to under privileged school children, in order to help them to continue their education unhindered.

The first phase of the project was launched in Moneragala district by extending of 1,000 scholarships to students in grades six and seven. Each of the 1,000 students selected will receive Rs 1,500 per month, from grade 6 onwards till they reach the Advanced Level. 

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