Ceylinco Life has been adjudged the Best Life Insurance Company in Sri Lanka for 2014 by World Finance, the prestigious UK-based bi-monthly magazine that provides in-depth coverage and analysis of the financial industry and global economy.
Sri Lanka’s life insurance leaderscored high in the publication’s assessment, which covered efficiency in processing new business, focus on customer retention, employee and agent training, ensuring best practices within the company, financial performance, market research and measuring customer satisfaction.
Ceylinco Life Managing Director/CEO R. Renganathan received the award on behalf of the company at the London Stock Exchange on Monday, 8th September 2014 ahead of the ceremonial presentation at the 2014 Global Insurance Awards of World Finance scheduled forNovember this year.
“Ceylinco Life has been the market leader in Sri Lanka’s life insurance industry since 2004, making it clear that as far as market share goes, we are number 1,” Mr Renganathan commented. “Nevertheless, an award of this nature is an important endorsement, as it is based on an independent, international third party assessment of key performance indicators.”
The World Finance judging panel boasts over 230 years of financial and business journalism, supported by a research team that works round the clock to ensure its award winners are the most deserving in their sector.
Begun in 2007, the magazine’s award programmes are tailored to provide a comprehensive analysis of the very best in each market. The judging panel is required to avoid bias towards criteria such as depth of practice and size of company, in order to get an insight into different geographies and niche areas.
Ceylinco Life, which celebrated its 25th anniversary on 14th January 2013, ended the last financial year with income of Rs 17.573 billion, of which Gross Written Premium Income totalled Rs 11.123 billion. The company’s Life Fund stood at Rs 52.765 billion and total assets had reached Rs 63.95 billion at the end of 2013.