Ceylinco Life was adjudged the Peoples Life Insurance Brand of the Year at the 2017 SLIM-Nielsen Peoples Awards on Friday night, reaffirming Ceylinco Insurance’s status as the most popular insurer in the country for the 11th consecutive year.
The hallmark awards event of the Sri Lanka Institute of Marketing (SLIM), the 2017 awards at Waters Edge saw the country’s top brands across multiple sectors being honoured, following a nationwide assessment of public opinion.
Ceylinco Insurance enjoys the rare distinction of being adjudged the ‘Peoples Insurance Brand of the Year’ every year since the awards programme was launched 11 years ago. For the first time this year, the award was presented separately to Life and General Insurance companies, following the segregation of insurance business by law in 2015.
Ceylinco Life’s award was accepted on behalf of the company by Messrs Rajkumar Renganathan, Managing Director/CEO and Thushara Ranasinghe, Director/Deputy CEO.
“Everything we do is for our policyholders, and with the lives of about 5 per cent of our country’s population insured with us, we are truly the life insurance company of the people,” Mr Renganathan commented. “The Peoples Awards are important because they formally affirm the people’s choice, which is a critical consideration for any business.”
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 covering 3,000 males and females between the ages of 15 to 60, 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 2016 with total income of Rs 23.4 billion, premium income of Rs 15 billion, a Life Fund of Rs 78 billion and an investment portfolio with a value in excess of Rs 80 billion, making it the market leader in the country’s life insurance industry for the 13th successive year.