A Rs. 3.8 billion in annual bonuses will reach some 300,000 policyholders of Ceylinco Life in April and May this year, a company official said.
The highest bonus pay-out in the history of the company, this year’s payment is an increase of Rs. 900 million or 31 per cent over that of last year, reflecting the sector-leading growth recorded by Ceylinco Life in the past year, he said.
Ceylinco Life will help enhance the ‘Avurudu’ cheer of over 15,000 policyholders with cash bonuses totalling Rs. 92 million in the form of immediately encashable cheques that will arrive in the post during the Sinhala and Tamil New Year.
The Avurudu Cash Bonus, a feature unique to Ceylinco Lif e, to be paid this year is 39 per cent higher than the cash bonuses paid by the company last year. With this year’s cash bonus payments, the cumulative value of cash bonuses paid by Ceylinco Life thus far will exceed Rs. 500 million.
“Everything we do is centred on adding value on behalf of our policyholders, and unstinted generosity is a key word at Ceylinco Life,” the company’s Managing Director and CEO R. Renganathan said. “We recorded excellent growth in 2016, and believe that our policyholders should share in our success.” Ceylinco Life’s 2017 annual bonus payout is based on the surplus generated by the company’s Life Fund last year. The Fund stood at Rs. 78 billion at the end of the year, following a transfer of Rs. 9.91 billion last year.