Ceylinco Life was adjudged the ‘Peoples Life Insurance Service Provider of the Year’ at the 2019 SLIM-Nielsen Peoples Awards on Tuesday night, reaffirming its status as the only company in its sector to win this coveted accolade every year since the inception of the awards 13 years ago.
The award came just days after the release of the Company’s annual results for 2018 confirmed it had maintained its position as the market leader in the country’s life insurance industry for the 15th consecutive year.
This was the third 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.
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.
“Market leadership is determined dispassionately, by figures, but we have always been extremely passionate about our relationship with our policyholders and the community at large, because life insurance is much more than figures,” Ceylinco Life Managing Director/CEO Mr Thushara Ranasinghe said. “We strive to ensure that everything we do advances our credo of ‘A Relationship for Life’ and it is most encouraging to see that the people of our country appreciate our efforts.”
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 2018 with assets of Rs 118 billion, total income of Rs 29.21 billion, premium income of Rs 17.8 billion, a Life Fund of Rs 88.05 billion, an investment portfolio with a value in excess of Rs 103 billion and net profit of Rs 5.79 billion.
Adjudged Sri Lanka’s Best Life Insurer in 2018 for the fifth consecutive year by World Finance, Ceylinco Life first achieved market leadership in 2004 and has now been the market leader in Sri Lanka’s life insurance industry for 15 of the 31 years it has been in operation. The Company has close to a million lives covered by active policies and is acknowledged as a benchmark in the local insurance industry for innovation, product research and development, customer service, professional development and corporate social responsibility.