Ceylinco Life Chairman R. Renganathan (fifth from left) and Managing Director/CEO Thushara Ranasinghe (second from left) with the award presented by Prime Minister Ranil Wickremesinghe
- Takes its place in pantheon of corporate giants honoured at second edition of ICCSL-CIMA awards
Ceylinco Life Insurance was named among the ‘10 Most Admired Companies’ in Sri Lanka at the 2019 edition of these awards presented by the International Chamber of Commerce, Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA).
The only insurance company in this list of corporate giants, Ceylinco Life was recognised as an entity that is a cut above the rest in terms of not just financial performance but the value the Company creates for shareholders, customers, employees, and the wider community in general.
The 10 Most Admired Companies announced on 25 September included diversified conglomerates, leading banks, and household brand names in the food and beverage sector.
“We are honoured to take our place among this august group of top-notch corporates that, according to the presenters of this accolade, are those that inspire other organisations and entrepreneurs and have proven their mettle with consistency, authority, and sustainable growth, creating excellent business performance,” Ceylinco Life Chairman R. Renganathan said.
“This ranking is a great endorsement of our continuing efforts to build relationships for life with policyholders, their families and the community as we contribute to the growth of the national economy.”
The ICCSL-CIMA Most Admired Companies list is based on a stringent evaluation conforming to globally-accepted criteria by a distinguished panel of judges, including Ravi Abeysuriya (Chairman), Dr. Harsha Cabral, Deepal Sooriyaarachchi, Sujeewa Rajapakse, Aroshi Nanayakkara, Santhosh Kumar, and Kshanika Ratnayake.
Companies that had been in business for over five years as at 30 June and were 30% or more Sri Lankan-owned were eligible for consideration for the Most Admired Companies awards, which are open to both listed and unlisted companies in Sri Lanka.
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.
No stranger to accolades of this nature, Ceylinco Life was adjudged Sri Lanka’s most valuable life insurance brand by Brand Finance in 2019, named the Best Life Insurer in 2018 for the fifth consecutive year by World Finance, and also declared the most popular life insurance company in the country for 13 consecutive years by SLIM-Nielsen. 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.