Wins prestigious accolade for 12th consecutive year – the only life insurer to win the award every year since its inception
Ceylinco Life was declared the Peoples Life Insurance Service Provider of the Year at the 2018 SLIM-Nielsen Peoples Awards, making the life insurance market leader the only company in its sector to win this prestigious accolade every year since the inception of the awards 12 years ago.
This was the second year that the Peoples Insurance Service Provider of the Year was awarded separately to Life and General Insurance companies, following the segregation of these segments of insurance by law in 2015. In the 10 years that preceded the segregation, Ceylinco Insurance PLC won the award every year.
Held at Waters Edge on Friday, 9th March, the SLIM-Nielsen Peoples Awards is the hallmark awards event of the Sri Lanka Institute of Marketing (SLIM). The country’s top brands across multiple sectors are honoured each year, following a nationwide assessment of public opinion covering 3,000 men and women aged 15 to 60.
“Our credo – ‘A Relationship for Life’ – influences everything we do, and it is fitting that this commitment to people is reciprocated every year with the Peoples Award,” Ceylinco Life Managing Director/CEO Mr R. Renganathan observed. “We have extended the protection of life insurance to nearly one million lives, about 5 per cent of our country’s population, but our community initiatives extend far beyond this group and reach virtually every corner of the country, making Ceylinco Life a true brand of the masses of Sri Lanka.”
The SLIM-Nielsen Peoples Awards recognise brands and personalities that have made a profound impression in the minds of the people of Sri Lanka and are one of the most awaited marketing events in the corporate calendar as the nominees and awardees are chosen by the voice of the people, through a comprehensive nationwide research conducted by Nielsen Sri Lanka.
The selection of the winners in the different sectors and categories is based on a nationwide quantitative face-to-face survey using a structured questionnaire. Respondents are asked to mention their favourite brands and personalities across various categories, and those that receive the highest nominations are declared the winners.
Ceylinco Life ended 2017 with assets of Rs 106 billion, total income of Rs 25.6 billion, premium income of Rs 15.7 billion, a Life Fund of Rs 85.1 billion, an investment portfolio with a value in excess of Rs 89.5 billion and net profit of Rs 6 billion, making it the market leader in the country’s life insurance industry for the 14th successive year.
Adjudged Sri Lanka’s Best Life Insurer in 2017 for the fourth consecutive year by World Finance, Ceylinco Life is acknowledged as the benchmark for innovation in the local insurance industry for its work in product research and development, customer service, professional development and corporate social responsibility.
Ceylinco Life Managing Director/CEO Mr R. Renganathan (left) and the company’s Director/Deputy CEO Mr Thushara Ranasinghe with the SLIM-Nielsen award