Ceylinco Life Archives

April 25, 2024

Close to 950 people received free medical consultations and diagnostics services recently, as Ceylinco Life kicked off its ‘Waidya Hamuwa’ (Meet the doctor) community programme for the 18^th year with four medical camps.

The first four medical camps of 2024 took place in the Badulla, Ratnapura, Trincomalee and Batticaloa districts, providing residents an opportunity to undergo essential medical tests and to discuss their health issues with doctors dispatched to these areas by Ceylinco Life.

Among the tests conducted for them free-of-charge were Random or Fasting Blood Sugar, blood pressure, ECG, serum cholesterol and urine tests for Chronic Kidney Disease (CKD). In addition, visitors also underwent Body Mass Index (BMI) and vision checks by trained medical technicians. The beneficiaries of these medical camps included farmers, housewives, self-employed people and tea plantation workers, the Company said.

Ceylinco Life’s ‘Waidya Hamuwa’ programme, designed to take teams of doctors and medical technicians and diagnostic equipment to far-flung towns and villages across Sri Lanka, was launched in 2004. The Company has to date conducted more than 400 medical camps to date under this programme, benefitting well over 150,000 people.

The objective of the Waidya Hamuwa programme is to screen people for non-communicable diseases (NCDs), to prescribe medicines to control them, and to provide medical advice on the prevention of NCDs by maintaining a healthy lifestyle. It was launched as a response to the increasing prevalence of long queues to obtain health services from the government sector and the spiraling costs of private sector health care, problems that have only grown more acute in the 20 years since the programme commenced.

The medical teams that conduct these camps have reported many previously undiagnosed cases of hypercholesterolemia, diabetes, hypertension, bronchial asthma and heart conditions, as well as inadequately treated fungal infections.

Ceylinco Life’s corporate social responsibility commitments relating to the health sector also involve support to government hospitals. The company has built and donated fully-equipped High Dependency Units (HDUs) to the Colombo South Teaching Hospital, Kalubowila, the National Hospital, Colombo, the Lady Ridgeway Children’s Hospital, the Jaffna Teaching Hospital and the Kandy Teaching Hospital. HDUs are needed to upgrade a patient from normal care or as a step down from intensive care, helping release beds in the intensive care units. These units are used for post-surgery care, before transferring patients to the wards, or to treat an intensive disease.

Additionally, Ceylinco Life built and donated a piped oxygen system to the Matale District General Hospital in 2023, connecting the hospital’s central oxygen concentrator with the wards, to provide an uninterrupted supply of life-saving oxygen to nearly 300 beds.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) and the Chartered Institute of Management Accountants (CIMA), and was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance.

Ceylinco Life has been the country’s leading life insurer for 20 of the 36 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.

April 2, 2024

Recognises record 302 MDRT qualifiers of 2023, presents three cars and 82 overseas tours to top achievers

Ceylinco Life has celebrated two decades of market leadership in Sri Lanka with a pledge to strive for another decade at the helm of the country’s life insurance industry.

The covenant was enthusiastically adopted at a scintillating annual awards event at Waters Edge recently, at which 523 top performers of the Company were rewarded with 580 awards, which included three company-maintained cars, 82 overseas tours and a host of other prizes and trophies, for their contributions to Ceylinco Life’s growth in 2023.

The awards gala and dinner saw the recognition of a record 302 members of the Ceylinco Life sales force who qualified for the Million Dollar Round Table (MDRT) in 2023, and 405 top sales professionals who met the Company’s criterion to be designated ‘High Flyers.’ The highlight of the event was the presentation of vehicles to the three top achievers of the year, S. Govintharaju of the Colombo North 11 branch, C. A. R. Upasena of the Matara 5 branch and W. K. M. C. Wickramasinghe of the Naththandiya 4 branch.

The Chief Guest at the event was Mr. Srinivasa Rao, Managing Director (Life and Health) at Munich Re – South East Asia and South Asia.

Addressing the event, Ceylinco Life Managing Director and CEO Mr Thushara Ranasinghe attributed a great emphasis on discipline and a unique company culture to Ceylinco Life’s consistency and 20 unbroken years of market leadership, pointing out that the Company has maintained an average annual growth rate of around 12% in Gross Written Premium from 2004 to 2023, in the midst the many different challenges of that period.

The top award winners at this year’s annual awards were Best Regional Sales Manager – Ms. J. Meera of the Colombo Region, Best Veteran Life Insurance Advisor – Mr J. M. D. Deep Ranjan, Best Veteran Unit Head – Mr R. P. Edirisinghe, and Best Veteran Head of Branch – Mr A. S. Samarasinghe, of the Nugegoda branch.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life was named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA), and was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance.

Ceylinco Life has been the country’s leading life insurer for 20 of the 36 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.

March 25, 2024

Wins ‘Peoples Life Insurance Service Provider of the Year’ title at 2024 SLIM Kantar Peoples Awards

Ceylinco Life was crowned the most popular life insurance company in Sri Lanka for a record 18^th consecutive year in 2024 at the SLIM Kantar Peoples Awards presented by the Sri Lanka Institute of Marketing (SLIM) on 19^th March.

The coveted title was conferred on Ceylinco Life just days after the announcement of the Company’s financial results for 2023, reaffirming its market leadership in the life insurance sector for the 20^th successive year.

The SLIM Kantar award is based on consumer preferences as determined by the results of a survey instead of by a panel of judges, making it a true reflection of popular sentiment. Ceylinco Life stands out as the only company in Sri Lanka’s life insurance sector win the award every year since the inception of the awards programme.

Commenting on this award, Ceylinco Life Deputy Chief Operating Officer Mr Samitha Hemachandra said: “Customer sentiment is the most important element in the success of any business, and to be the people’s choice for 18 years in a row is an amazing achievement in consistency. Our two decades of market leadership is based on the trust and confidence of our customers, and it is logical that Ceylinco Life has been the winner of the Peoples Award in that period. This award attests to the fact that Ceylinco Life exceeds the expectations of its customers and the community, and is looked up to as a corporate inspiration.”

The purpose of the Peoples Awards is to reward and recognise brands and personalities that are closest to the hearts of the Sri Lankan people. A hallmark awards event of the Sri Lanka Institute of Marketing, the awards programme is the result of a collaboration between the Institute and Kantar Group, UK. The award winners are chosen solely by people’s votes, through country-wide research conducted by Kantar and honour the country’s top brands across multiple sectors each year, with respondents to the survey asked to mention their favourite brands and personalities across various categories.

The 2024 SLIM Peoples Awards presentation was the eighth year that the awards in the insurance sector were presented 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 comprising of Ceylinco Life and Ceylinco General Insurance, won the award every year.

Ceylinco Life ended 2023 with gross written premium income of Rs 33.41 billion and investment and other income of Rs 28 billion, recording consolidated income of Rs 61.4 billion. Policyholders received a record Rs 23 billion in net claims and benefits in 2023, and the company’s Life’s Fund grew to Rs 157.5 billion at the end of the year. Total assets grew to Rs 224.7 billion while the Company’s investment portfolio increased to Rs 198.1 billion as at 31^st December 2023.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life was named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA), and was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance.

The 2022 Annual Report of Ceylinco Life won the joint Gold Award for ‘Best Presented Annual Report’ in the Life Insurance sector at the South Asian Federation of Accountants (SAFA) Awards and was adjudged the best in the ‘Finance Services and Insurance’ category at the Sustainability Reporting Awards presented by the Association of Chartered Certified Accountants (ACCA).

Ceylinco Life has been the country’s leading life insurer for 20 of the 36 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.

March 18, 2024

Chairman-Mr-R.-Renganathan-and-Managing-Director-CEO-Mr-Thushara-Ranasinghe-LBN.jpg

Premium income improves by 14.6% to Rs 33.4 billion
Pays Rs 23 billion in net claims and benefits to policyholders
Life Fund grows by 16.8% to Rs 157.5 billion
CAR improves to 344% nearly triple the minimum requirement

Ceylinco Life has achieved the milestone of two decades of unbroken market leadership in Sri Lanka’s life insurance industry, posting impressive premium income and consolidated income growth in the year ending 31^st December 2023.

Policyholders received a record Rs 23 billion in net claims and benefits in 2023, up by 22 per cent year on year, as the Company posted gross written premium income of Rs 33.41 billion and investment and other income of Rs 28 billion, reflecting improvements of 14.6 per cent and 39.5 per cent respectively.

Consequently, consolidated income for the 12 months, at Rs 61.4 billion represented topline growth of 24.7%, a noteworthy achievement in the context of the socio-economic challenges that prevailed in the year, the Company said.

Ceylinco Life’s Fund grew by Rs 23 billion or 16.8 per cent to Rs 157.5 billion as at 31^st December 2023, after a transfer of Rs 1.97 billion to the Shareholders Fund in respect of the year.

Total assets grew by Rs 33.2 billion or 17.3 per cent to reach Rs 224.7 billion at the end of 2023, while the Company’s investment portfolio recorded an increase of Rs 32.2 billion or 19.4 per cent in value over the 12 months to reach Rs 198.1 billion as at 31^st December 2023.

“Economic and political uncertainty continued to preoccupy businesses as well as consumers in the year concluded, making investment decisions more difficult,” Ceylinco Life Managing Director/CEO Mr Thushara Ranasinghe commented. “Our ability to continue to outperform the competition to record our 20^th consecutive year of market leadership is a clear demonstration of the depth of the trust and confidence that Ceylinco Life has built for its proposition of de-risking the future for policyholders.”

Notably, Ceylinco Life’s Risk-based Capital Adequacy Ratio (CAR) improved to 344 per cent at end 2023, well above the minimum CAR of 120 per cent required by the industry regulator.

The Company’s basic earnings per share for the year amounted to Rs 116.04, while net assets value per share stood at Rs 1087.47 as at 31^st December 2023. Return on equity for the year was 10.7 per cent.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life has been named the ‘Best Life Insurer in Sri Lanka’ by World Finance for nine years, and was conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17th consecutive year. The Company was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA), was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance, and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022.

The 2022 Annual Report of Ceylinco Life won the joint Gold Award for ‘Best Presented Annual Report’ in the Life Insurance sector at the South Asian Federation of Accountants (SAFA) Awards and was adjudged the best in the ‘Finance Services and Insurance’ category at the Sustainability Reporting Awards presented by the Association of Chartered Certified Accountants (ACCA).

March 7, 2024

Staff of the head office of Ceylinco Life and their families took a shocking 732 kilograms of harmful pollutants and trash off a stretch of beach at Mattakuliya recently at a beach cleanup organised by the Company’s Green Club.

The initiative was supported by the non-governmental organisation Clean Ocean Force, which undertook the responsible disposal of the collected items, which included plastic containers, polythene, rubber, glass, rigifoam and mixed trash.

The Company said the exercise was fruitful as it engaged employees, their family members including young children, and volunteers from Clean Ocean Force in a project that also generated greater awareness of the harmful impacts of litter on the environment and marine eco systems. It also provided an eye-opener on the extent of the problem at the Crow Island beach, which is part of the only coastal wetland in the Colombo district.

Ceylinco Life’s Green Club consists of like-minded individuals across departments who are responsible for initiating and executing green activities. Since its inception, Green Club members have spearheaded many initiatives such as an annual e-waste collection campaign and coordinating the Company’s Carbon Footprint Audit.

Members also play a vital role in creating awareness about the importance of following environmentally friendly practices at work and in the home.

Committed to enterprise-wide sustainability, Ceylinco Life is in the process of building a network of Green branches on company-owned land. This effort has already resulted in 33 purpose-designed new buildings that are solar-powered; have rainwater harvesting facilities and waste water recycling systems that minimise the use of pipe-borne water, are designed for optimal use of natural light and are equipped with the latest energy-efficient lighting and air conditioning systems.

Ceylinco Life has also recently undertaken the reforestation of 10 acres of degraded rainforest in Balangoda and its maintenance for five years, as a corporate sustainability initiative that will be executed in collaboration with the non-profit environmental organisation Rainforest Protectors of Sri Lanka. The project entails planting 10,000 trees in the Rajawaka Forest Reserve.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life has been named the ‘Best Life Insurer in Sri Lanka’ by World Finance for nine years, and was conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17th consecutive year. The Company was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance, and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022.

Ceylinco Life has been the country’s leading life insurer for more than half of the 36 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.

February 28, 2024

The 2022 Annual Report of Ceylinco Life was adjudged the best in the ‘Finance Services and Insurance’ category at the Sustainability Reporting Awards presented by the Association of Chartered Certified Accountants (ACCA) recently.

The ACCA Awards recognise Annual Reports that clearly acknowledge and explain the economic, environmental and social impacts of the enterprise to internal and external stakeholders, demonstrating

the organisation’s policies, targets and long-term objectives towards the goal of sustainable development.

The Annual Reports competing for these awards are scored on Completeness, Credibility and Communication in terms of the content relating to sustainability reporting.

Referring to Ceylinco Life’s award-winning Annual Report, the judges noted that: “There are improvements made to the report. There has been a drastic reduction in the use of fossil fuel. The reduction in GHG is significant. There is a clear sustainability policy which is geared to the SDGs. The relationships with stakeholders are seen to have a connection to selected SDGs. The materiality assessment is analyzed. Strategy and resource allocation for its achievement spelt out. A four-year analysis of water, energy, waste and GHG (is provided).”

“Sustainability is a core element of every aspect of our operation now, and we strive to provide our stakeholders with a comprehensive insight into the environmental impacts, our efforts to mitigate them, and our proactive initiatives to promote and propagate environmental sustainability practices,” Ceylinco Life Senior Executive Director/Chief Financial Officer Mr Palitha Jayawardena noted. “Besides fulfilling disclosure requirements, we hope our sustainability reporting will also serve as an example to others.”

Titled ‘Steadfast and Unwavering” the Integrated Report of Ceylinco Life for 2022 also recently won the joint Gold Award for ‘Best Presented Annual Report’ in the Life Insurance sector at the South Asian Federation of Accountants (SAFA) Awards; the Silver in the Life Insurance category at the CA Sri Lanka ‘TAGS’ Awards; and was recognised among the ‘10 Best Integrated Reports’ at the Certified Management Accountants (CMA) awards presented in 2023.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life has been named the ‘Best Life Insurer in Sri Lanka’ by World Finance for nine years, and was conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17th consecutive year. The Company was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance, and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022.

Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.

February 7, 2024

Total of 15 policyholder families win holidays in Türkiye & Malaysia, 250 families chosen for day visit to Pearl Bay

The gloom of the spiraling cost of living has been dispelled at least momentarily for a group of Ceylinco Life policyholders who have begun 2024 on a winning note, thanks to the life insurance leader’s ‘Family Savari’ mega promotion.

Five policyholder families have just won an all-expenses-paid holiday to Türkiye, another five families a holiday in Malaysia and 150 families have been selected for a day’s outing at the Pearl Bay theme park in Bandaragama at the grand draw of the 17^th edition of the promotion.

The policyholder families chosen at the Family Savari 17 grand draw will be joined on the overseas holidays and the local excursion by more winners selected in November 2023 at a mid-promotion draw, at which five families won a holiday to Malaysia and 100 families were chosen for a visit to Pearl Bay.

The five lucky Ceylinco Life policyholder families that won the grand prize of a holiday in Türkiye are from Colombo, Horana, Kadawatha, Nuwara Eliya and Nelliady, the Company said.

Family Savari 17 marks the return of overseas holidays for the family as the main loyalty reward under this annual extravaganza, the largest customer loyalty promotion of its kind in the local life insurance sector.

The Family Savari promotion will reward a total of 265 policyholders and their family members, numbering 1,060 people in all this year, for their loyalty to Ceylinco Life. The mega promotion has to date rewarded more than 35,000 people in this manner.

To be eligible to win overseas holidays or the local excursion at the Family Savari draws, Ceylinco Life policyholders were required to continue their existing policies with the Company or maintain a minimum account balance in their retirement plans during the promotion period, 1^st September to 31^st December 2023. Additional winning chances were given to customers who paid their premiums directly to the company and further chances were assigned corresponding to the time they had been Ceylinco Life customers.

Grand-prize winning families at previous Family Savari promotions have visited Australia, Italy, England, Germany, Switzerland, Japan, and France, while other winners have toured China, Dubai, and Singapore.

The Family Savari promotion is supported by its celebrity brand ambassadors, the popular actor Roshan Ranawana and his wife Kushlani.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life has been named the ‘Best Life Insurer in Sri Lanka’ by World Finance for 10 years, and was conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17^th consecutive year. The Company was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance, and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022.

Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s one million policyholders.

January 26, 2024

Ceylinco Life has been adjudged the ‘Best Life Insurance Company in Sri Lanka’ in 2023 by World Finance, conferring this coveted title on the Company for a remarkable 10^th consecutive year.

The award was announced just weeks after Ceylinco Life was named Sri Lanka’s ‘Brand of the Year’ by the Sri Lanka Institute of Marketing (SLIM) for a second successive year, making 2023 a year of international and local accolades for the country’s life insurance market leader.

Ceylinco Life is the only life insurance company in Sri Lanka to consistently win this award.

The World Finance award places Ceylinco Life in the exalted company of global giants like MassMutual (USA), Aviva (UK), Canada Life (Canada), TAL (Australia), Swiss Life (Switzerland), CNP Assurances (France), China Life Insurance Group (China) and Max Life Insurance (India), that were named the best life insurance companies in their respective countries by the magazine at its 2023 awards.

Commenting on its Insurance Awards, World Finance observed that while the insurance industry cannot undo inflation, it can smooth out the impact over time, acting as a kind of buffer, and that technology holds the promise for making the changes needed, with AI opening unimagined possibilities in data analytics, revolutionising the entire value chain from underwriting to claims handling. “World Finance celebrates those insurers focusing on providing a holistic service to go above and beyond for their customers,” the magazine said.

The World Finance award recognises Ceylinco Life as an organisation that is committed to continuously improving its overall processes, efficiency and relationships to serve customers better.

Winners are chosen after a stringent assessment of multiple aspects of operational performance including underwriting processes and process efficiency; policy maintenance – the process of reviewing clients’ policies, appropriateness of coverage and cost per policy; exposure to risk; customer retention rate; time taken to settle claims; new customer acquisition rate and financial stability – Premium Income, Market share, Life Fund and company profits.

The World Finance Awards judging panel represents the expertise of over 230 years of financial and business journalism, supported by a research team that works round the clock to ensure the award winners are the most deserving in their sector. Additionally, reader insight and experience are relied upon to provide nominations. The judging panel is required to avoid bias towards criteria such as depth of practice and size of the company, in order to get an insight into different geographies and niche areas.

World Finance is a print and online magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy. The magazine targets an audience of finance professionals and corporate and private investors, but its lucid voice makes it intelligible and essential reading for anybody who wants to understand the machinations of finance in the 21^st century. Established in 2007, World Finance’s awards programmes are tailored to provide a comprehensive analysis of the very best in each market.

Besides being adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life was also crowned the country’s ‘Service Brand of the Year’ for the third consecutive year, as well ‘Local Brand of the Year’ and ‘Agile Brand of the Year’ at the 2023 SLIM awards, and won the overall Silver award for ‘CSR Brand of the Year.’ The Company was also conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17^th consecutive year, and was named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). In the same year, Ceylinco Life was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories by Brand Finance.

Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.

January 22, 2024

Ceylinco Life has undertaken the reforestation of 10 acres of degraded rainforest in Balangoda and its maintenance for five years, as a corporate sustainability initiative.

An investment of Rs 5.7 million, the project will be executed in collaboration with the non-profit environmental organisation Rainforest Protectors of Sri Lanka, and will entail planting 10,000 trees, the life insurance market leader said.

The land to be reforested is located in the Rajawaka Forest Reserve area in Balangoda, on the border of the wet and intermediate zones, and is part of an ecosystem of grass, shrubland, mountains and catchment blocks. It has been degraded over the years by man-made fires that have destroyed the natural habitat.

The objective of the project is to restore the area to forest and help the local community to protect the environment, thereby improving and enhancing the catchments and water security, reducing the frequency of fire and improving fire resistance, building up biodiversity, improving soil fertility and facilitating microorganism activity, and restoring the habitat for pollinator colonies such as bees and hornets.

The project would also provide different community benefits, including essential education on the importance of conservation, and generate long-term carbon benefits. The Company said 50 species of native trees that are endemic to the area including major canopy species, are to be planted in the 10-acre site.

Ceylinco Life has also embarked on a comprehensive Green agenda that includes converting its branches to eco-friendly operations. More than 30 Ceylinco Life branch buildings that are company owned are powered by solar energy and are designed and equipped to minimise their environmental footprint.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life has been named the ‘Best Life Insurer in Sri Lanka’ by World Finance for nine years, and was conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17th consecutive year. The Company was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance, and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022.

Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s one million policyholders.

January 16, 2024

The 2022 Annual Report of Ceylinco Life has been recognised for excellence in financial reporting in Sri Lanka as well as in the South Asian region.

Titled ‘Steadfast and Unwavering” the Integrated Report of Sri Lanka’s life insurance market leader won the joint Gold Award for ‘Best Presented Annual Report’ in the Life Insurance sector at the South Asian Federation of Accountants (SAFA) Awards hosted by the Institute of Chartered Accountants of India in New Delhi.

This noteworthy accolade came days after the same Annual Report received the Silver in the Life Insurance category at the CA Sri Lanka ‘TAGS’ Awards, anchored on the four principles of Transparency, Accountability, Governance, and Sustainability (TAGS). It was CA Sri Lanka’s 57-year old Annual Report Awards Competition, which was reconceptualized and rebranded as “TAGS Awards” in 2022.

Ceylinco Life’s Annual Report for 2022 was also recognised among the ‘10 Best Integrated Reports’ at the Certified Management Accountants (CMA) awards presented in 2023.

“The standards of corporate reporting and the scope of corporate disclosures continue to grow each year, and a lot of effort goes in to ensure that our Annual Report provides all stakeholders a transparent and holistic view of every aspect of our operations,” Ceylinco Life Senior Executive Director/Chief Financial Officer Mr Palitha Jayawardena said. “Winning regional and local awards attests to our commitment to meet international standards and requirements for best practices in this extremely important sphere.”

The award-winning Ceylinco Life Annual Report for 2022 was the Company’s eighth Integrated Annual Report and provided stakeholders valuable insights into the Company’s value creation process and its strategic framework in addition to providing a true and fair view of financial performance. It also covered the environmental and social impacts generated by the Company’s operations in Sri Lanka and provided strategic and governance information, and details of key risks, opportunities and outcomes.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life has been named the ‘Best Life Insurer in Sri Lanka’ by World Finance for nine years, and was conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17th consecutive year. The Company was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance, and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022.

Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s one million policyholders.

Ceylinco Life begins 18th year of ‘Waidya Hamuwa’ with 4 free medical camps

Ceylinco Life rewards the superstars of its 20th successive year at the top

Ceylinco Life crowned Sri Lanka’s most popular life insurer for 18th year

Ceylinco Life attains 20 years of unbroken market leadership in 2023

Ceylinco Life Green Club collects 732kgs of trash off Crow Island beach

Ceylinco Life wins ACCA award for Sustainability Reporting

Ceylinco Life’s ‘Family Savari’ Grand Draw produces 160 more winners

Ceylinco Life achieves a decade as World Finance’s ‘Best Life Insurer in Sri Lanka’

Ceylinco Life to restore and maintain 10 acres of forest in Balangoda

Ceylinco Life wins SAFA Gold and TAGS Silver for 2022 Annual Report