- Only insurance company in prestigious list compiled by CIMA and ICCSL
- Moves up from ‘Honourable Mention’ in 2020 to main list in 2021
Ceylinco Life has been named one of the ‘10 Most Admired Companies in Sri Lanka’ in 2021 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA).
Ceylinco Life is the only insurer in the ‘Top 10’ and five other companies recognised with ‘Honourable Mentions’ in the latest edition of this prestigious list. This is the third occasion that Sri Lanka’s life insurance leader has been honoured as one of the country’s Most Admired companies.
“We are elated to be named one of Sri Lanka’s most admired companies, especially at a time when retaining public respect and admiration is most important,” Ceylinco Life Managing Director Mr Thushara Ranasinghe commented. “Adversity is the true test of a business, and we attribute our ability to improve our position in this list to the remarkable degree of consistency we have maintained in our approach to our mission of de-risking the future for our customers, despite the effects of the pandemic.”
The Most Admired companies list includes both listed and unlisted companies that, according to the presenters of the accolade, are recognised not just for financial performance but the value they create for shareholders, customers, employees, and the wider community in general. The accolade recognises companies that inspire other organisations and entrepreneurs by proving their mettle with consistency, authority and sustainable growth, creating excellent business performance.
Ceylinco Life ended 2020 with assets of Rs 150 billion, total income of Rs 36.9 billion, premium income of Rs 22.1 billion, a Life Fund of Rs 106.7 billion, an investment portfolio with a value in excess of Rs 133.7 billion and pre-tax profit of Rs 8.7 billion.
The ICCSL-CIMA Most Admired Companies list is based on a stringent evaluation conforming to globally accepted criteria by a distinguished panel of judges. Companies were ranked according to quantitative and qualitative criteria. The quantitative criteria included financial soundness, long-term investment value creation, earnings growth and dividend pay-out, while the qualitative attributes considered were quality of management, quality of products and services, competitiveness, ability to attract, develop, and keep talent, innovation, and environmental, social and corporate responsibility, including the track record of integrity and business ethics.
According to the presenters, the ‘Most Admired Company’ accolade is for those that have established themselves as being excellent in business performance and across a number of other discrete performance criteria. Companies that had been in business for over five years as at 30th June 2021 and are 30% or more Sri Lankan owned were eligible to enter this awards competition.
Ranked the ‘Most Valuable Life Insurance Brand’ in Sri Lanka by Brand Finance and voted the ‘Peoples Life Insurance Service Provider of the Year’ for a record 15th consecutive year in 2021, Ceylinco Life has been Sri Lanka’s leading life insurer for more than half of the 33 years it has been in existence. In 2020, the Company was certified as a ‘Great Workplace’ in Sri Lanka by Great Place to Work®, was named the ‘Best Life Insurer in Sri Lanka’ for the seventh consecutive year by World Finance, and accorded an ‘Honourable Mention’ as one of the ‘Most Admired Companies in Sri Lanka’ by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA), UK.
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, sustainability, and corporate social responsibility.