LNP – Ceylinco Life crowned Sri Lanka’s most popular life insurer for record 15th year

Ceylinco Life representatives led by Director Devaan Cooray (centre) at the 2021 SLIM Peoples Awards ceremony.

Sri Lankans have voted Ceylinco Life the ‘Peoples Life Insurance Service Provider of the Year’ for the 15th consecutive year, making the country’s life insurance leader the only company in its sector to win the coveted SLIM Peoples Award every year since the inception of the awards programme.

This emphatic reaffirmation of popularity at the 2021 edition of these awards has only been outdone in longevity by Ceylinco Life’s performance, coming as it did a month after the company’s financial results showed that it had retained market leadership in Sri Lanka’s life insurance industry for the 17th successive year.

Considered the hallmark awards event of the Sri Lanka Institute of Marketing (SLIM), the SLIM Peoples Awards honours the country’s top brands across multiple sectors each year. The selection of winners is based on a nationwide quantitative face-to-face survey covering males and females between the ages of 15 to 60, over a period of five months using a structured questionnaire. Respondents are asked to mention their favourite brands and personalities across various categories, with those receiving the highest nominations being declared as the winners.

“Ceylinco Life has been helping Sri Lankans de-risk their future for more than three decades through the safety net of life insurance, as well as the many additional benefits the company extends to its policyholders,” the company’s General Manager – Marketing Samitha Hemachandra said. “The SLIM Peoples Award reflects the strong and enduring bonds Ceylinco Life has built not only with policyholders, but with the larger populace through its many engagements and community initiatives.”

The 2021 SLIM Peoples Awards presentation was the fifth year that the Peoples Insurance Service Provider of the Year was awarded 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 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.

Sri Lanka’s leading life insurer for more than half of the 33 years it has been in existence, and certified as a ‘Great Workplace’ in Sri Lanka by Great Place to Work®, Ceylinco Life was ranked the ‘Most Valuable Life Insurance Brand’ in Sri Lanka by Brand Finance in 2020, named the ‘Best Life Insurer in Sri Lanka’ for the seventh consecutive year by World Finance, also in 2020, and accorded an ‘Honourable Mention’ as one of the ‘Most Admired Companies in Sri Lanka’ in 2019-20 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.