CEYLINCO Insurance, once again consolidating its position as the trail blazer in the Sri Lankan insurance industry, has been recognised as the ‘People’s Insurance Brand of the Year’ for the fifth consecutive year. The People’s Awards, conducted by the Sri Lanka Institute of Marketing (SLIM) in association with Neilsen Lanka (Pvt) Ltd., recognise and honour brands that have won the hearts of Sri Lankans.
The people’s choice is the only measure taken into account in determining the winners. Since its inception five years ago, The Peoples Awards, the only such event to measure the pulse of the people of this country, have added value to brands as those preferred by the people.
In being chosen for the Peoples Awards for the fifth year, Ceylinco Insurance has retained its prestigious position as the most preferred Choice of the People of Sri Lanka.
Following an extensive research criteria, the winning brands have been selected over a period of five months stretching from September 2010 to January 2011. People aged 15 to 60 years are interviewed including those in the North and East for the first time; the results reflect the opinions of people from all regions and communities.
For the seventh year in a row, Ceylinco Insurance reiterated its market leader position in the Sri Lankan Insurance industry with impressive results for 2010.
During 2010, Ceylinco Insurance recorded a premium income of Rs. 18 billion out of which the General Division contributed Rs. 9.22 billion with the Life Division contributing the balance Rs. 8.78 billion.
The company made an exceptional pre-tax profit of Rs. 933.9 million for the year ended 31 December 2010 indicating a 12 % increase when compared to previous year.
“We view this award as not only the highest recognition in terms of corporate success but also as a measurement of how close we are to the people of Sri Lanka. For us, it is an honour we are proud to share with our customers and all Sri Lankans,” said Ajith Gunawardena, Managing Director and Chief Executive Officer, Ceylinco Insurance – General.
“Innovation has been key to our success – developing and initiating products and services which ease the burdens of our customers and deliver what is promised and a wide network of branches that takes us closer to the customers, have been important milestones in our success story.”
“During 2010, Ceylinco Insurance – General paid Rs. 5.2 billion as claims, which reflected the company’s commitment to ensuring timely claim settlement to customers. In the Sri Lankan insurance industry, Ceylinco Insurance has sustained an undisputed leadership position as the only company committed to settling all claims on the spot,” he further added.