Ceylinco Life has announced it will award more than Rs 11 million to another 160 brilliant young minds with the launch of the 20th edition of the Company’s ‘Pranama’ Scholarships programme which will culminate in May 2021.
The collection of applications from students eligible under four categories is now open and will continue until the 15th of January 2021, considering the delays in examinations due to the COVID-19 pandemic, the Company said. All Ceylinco Life branches island-wide are now accepting applications.
Launched as a rewards scheme to benefit Ceylinco Life policyholder’s children, the Pranama scheme has to date disbursed a total of Rs 155 million and benefitted 2,725 students. Completing the second decade of recognising and encouraging young talent, the life insurance leader will take this total to Rs 166 million and the beneficiary numbers to 2,885 with this round of scholarships.
Commenting on the programme, Ceylinco Life Managing Director and CEO Mr Thushara Ranasinghe said: “These are challenging times for businesses, but we are determined to continue investing in the future generations of our country through the Pranama scholarships. Keeping the programme going for 20 years is a measure of our commitment and we are deeply heartened to be able to play a role in encouraging the pursuit of excellence among children who will grow up to be leaders in their chosen fields and become assets to our country.”
Ceylinco Life’s Pranama scholarships programme rewards academic as well as extra-curricular achievements of children of policyholders with cash prizes for those who achieve the best results in their respective districts at the year 5 scholarship examination, the GCE Ordinary Level, and the GCE Advanced Level as well as for children who excel at an international and national level in sports, drama, invention or creativity.
The newest edition of ‘Pranama’ Scholarships will reward 25 students who excelled at the 2020 Year 5 scholarship examination with Rs 120,000 each, payable in instalments over five years. Another 25 students who excelled at the 2019 G.C.E. Ordinary Level Examinations will each receive Rs 84,000, payable monthly over two years, while 25 students placed 1st in their districts at the 2019 G.C.E. Advanced Level examinations will receive scholarships worth Rs 144,000 each, payable over a three year period.
Furthermore, one-time payments of Rs 30,000 each will be presented to 75 students placed 2nd, 3rd, and 4th in their districts at the 2019 GCE Advanced Level examination.
Ten students who have excelled in sports, drama, invention or creative fields in 2019 and 2020 will be presented merit awards, each to the value of Rs 35,000.
Additionally, 600 students who are ranked in the top 10 in all three public examinations at a district level will be presented a certificate of appreciation and a gift pack at their respective branches, after the conclusion of the main event, the Company said.
Sri Lanka’s leading life insurer for more than half of the 32 years it has been in existence, and certified as a ‘Great Workplace’ in Sri Lanka by Great Place to Work®, Ceylinco Life was ranked the Most Valuable Life Insurance Brand in Sri Lanka by Brand Finance this year and declared the ‘Peoples Life Insurance Service Provider of the Year’ for the 14th consecutive year at the 2020 SLIM-Nielsen Peoples Awards. The Company was ranked among the 10 ‘Most Admired Companies’ in the country by the International Chamber of Commerce, Sri Lanka (ICCSL) in 2019 and in the same year was named the ‘Best Life Insurer in Sri Lanka’ for the sixth consecutive year by World Finance, and ranked sixth overall in the Business Today ranking of the country’s top 30 companies.
Ceylinco Life has close to a million lives covered by active policies and is acknowledged as a benchmark in the local insurance sector for innovation, product research and development, customer service, professional development and corporate social responsibility.