Ceylinco General Insurance Ltd recorded a premium income of Rs.12 billion (Rs.12,012 million), upto the third quarter with a growth of 23.3 %, an increase of Rs.2.3 billion over the corresponding period last year.
“I would say this is an exceptional achievement. This trend will no doubt help us to end the year on a resoundingly successful note,” Chief Executive Officer of Ceylinco General Insurance, Ajith Gunawardena said.
“As always, this performance is entirely due to the unwavering faith the Sri Lankan public has placed in us, and the unrelenting efforts of each and every member of the Ceylinco General Insurance family,” he said.
“Our humble thanks and heartfelt gratitude are extended to all those who made such a feat possible, and we assure you of our continued efforts to bring better and faster solutions to benefit you even further, while never faltering in our yeoman endeavour to bring the safety and benefits of insurance to every Sri Lankan man, woman and child,” Gunawardena said.
Managing Director of Ceylinco General Insurance Ltd, Patrick Alwis said, “Ceylinco General Insurance paid claims amounting to Rs.8.1 billion during the 9 month period ended September 2016, which is an increase of 70 % over the same period last year.”
“The sharp increase in claim settlement is a result of the large number of flood claims we paid. Ceylinco General Insurance paid compensation to over 2,300 customers, amounting to Rs.2.9 billion for property and vehicles damaged during the floods in May 2016,” he said.
“Claims were paid within a period of 14 days, enabling customers to return to normalcy in the fastest possible time. Some of these customers had only insured their vehicles, but not their homes, while some had insured their shops, but not their houses. However, Ceylinco Insurance, looking at the situation from a humane angle, decided to pay a percentage to compensate the damages to their homes as well,”Alwis said.
Ceylinco General Insurance opened several outlets, bringing the number of branches to over 425, allowing the company to better serve its ever-increasing, loyal customer base.