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Ceylinco Life retains No 1 spot in life insurance with premium income of Rs 37.14 bn. In 2024

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Executive Chairman R. Renganathan and Managing Director CEO Thushara Ranasinghe

Ceylinco Life has emphatically reaffirmed its continuing supremacy in Sri Lanka’s life insurance industry with gross written premium income of Rs 37.14 billion and total income of Rs 65.54 billion in 2024, the company’s 21st year of unbroken market leadership.

Premium income grew by a healthy 11.16 per cent, while investment income at Rs 28.4 billion reflected growth of 1.5 per cent, resulting in consolidated income for the year improving by 6.7 per cent, according to the company’s audited financial statements for the 12 months ending 31st December 2024.

The growth in life insurance business as represented by gross written premium income confirms that Ceylinco Life retained its position as the largest life insurer in Sri Lanka in 2024, by a margin of more than Rs 5.5 billion over the second-placed life insurance company.

“The figures tell the story,” commented Ceylinco Life Executive Chairman R. Renganathan. “We have completed the first year of our third decade of market leadership in Sri Lanka’s life insurance industry, thanks to the unwavering trust and confidence of the millions of lives we protect and touch. Ceylinco Life’s demonstrated financial strength and stability, its uncompromising adherence to the core values and principles of its business, and its deep-rooted commitment to the community, remain the bedrock of the company’s growth and progress.”

Ceylinco Life paid Rs 25 billion in net claims and benefits to policyholders for the year under review, an increase of 8.2 per cent over the preceding year, and transferred Rs 23 billion to its Life Fund. As a result, the Life Fund grew by a noteworthy 14.8 per cent to Rs 180.89 billion as at 31st December 2024.

The company’s total assets grew by Rs 26.69 billion or 11.8 per cent over the year at a monthly average of more than Rs 2.2 billion to cross the milestone of Rs 250 billion (Rs 251.43 billion) at the end of 2024, while its investment portfolio recorded an increase of 12.32 per cent in value over the 12 months to total Rs 222.5 billion as at 31st December 2024.

Ceylinco Life transferred Rs 3 billion to the shareholders’ fund in respect of the 12 months, and shareholders’ equity grew to Rs 60.74 billion at the end of the year.

The Company posted profit before tax of Rs 10.05 billion for FY 2024, reflecting an increase of 19.1 per cent over the previous year. Net profit after tax for the 12 months reviewed was Rs 7.07 billion, an improvement of 21.88 per cent over 2023.

Ceylinco Life’s basic earnings per share for the year amounted to Rs 141.43, while net assets value per share stood at Rs 1,214.91 as at 31st December 2024, representing growths of 21.8 per cent and 11.7 per cent respectively. Return on assets for the year was 2.81 per cent and return on equity 11.64 per cent.

Significantly, Ceylinco Life’s Risk-based Capital Adequacy Ratio (CAR) improved to 448 per cent at end 2024, more than 3.7 times the minimum CAR of 120 per cent required by the industry regulator.



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Sri Lanka betting its tourism future on cold, hard numbers

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“From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility holds its panel discussion

National Airport Exit Survey tells quite a story

Australia’s role here is strategic, not charitable

In a quiet but significant shift, Sri Lanka’s tourism sector is moving beyond traditional destination marketing and instinct-based planning. The recent launch of the “From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility and the Sri Lanka Tourism Development Authority, sent an unambiguous message: sentiment is out, statistics are in.

The initiative is anchored by a 12-month National Airport Exit Survey, a trove of data covering 16,000 travellers. The findings sketch a new traveller profile: nearly half are young (20–35), independent, and book online. Galle, Ella, and Sigiriya are the hotspots; women travellers outnumber men; and a promising 45% plan to return. This isn’t just trivia. It’s a strategic blueprint. If Sri Lanka Tourism listens, it can tailor everything from infrastructure to marketing, moving from guesswork to precision.

Tourists have a real sense of achievement after hiking the trail to Ella Rock

The keynote speaker, Deputy Minister Prof. Ruwan Ranasinghe called data “a vital pillar of tourism transformation.” Yet the unspoken truth is that Sri Lanka has long relied on generic appeals -beaches, heritage, smiles. In today’s crowded market, that’s no longer enough. As SLTDA Chairman Buddhika Hewawasam noted, this partnership is about “elevating how we collect, analyse, and use data.”

Australia’s role here is strategic, not charitable. By funding research and advocating for a Tourism Satellite Account, it is helping Sri Lanka build a tourism sector that is both sustainable and measurable. Australian High Commissioner Matthew Duckworth linked this support to “global standards of environmental protection” – a clear nod to the growing demand for green travel. This isn’t just aid; it’s influence through insight.

“The real test lies ahead,” a tourism expert told The Island. “Data is only as good as the decisions it drives. Will these insights overcome bureaucratic inertia? Will marketing budgets actually follow the evidence toward younger, independent, female travellers?,” he asked.

“The comprehensive report promised for early 2026 must move swiftly from recommendation to action. In an era where destinations are discovered on Instagram and planned with algorithms, intuition alone is a high-stakes gamble. This forum made one thing clear: Sri Lanka is finally building its future on what visitors actually do – not just what we hope they’ll do. The numbers are in. Now, the industry must dare to follow them,” he said.

By Sanath Nanayakkare

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New ATA Chair champions Asia’s small tea farmers, unveils ambitious agenda

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New Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola

In his inaugural address as the new Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola placed the region’s millions of smallholders at the core of the global tea industry’s future, asserting they are the “indispensable engine” of a sector that produces over 90% of the world’s tea.

Udugampola, who is also Chairman of Sri Lanka’s Tea Smallholdings Development Authority, used his speech at the 6th ATA Summit held in Colombo on Nov. 27 to declare that the prosperity of Asian tea is “entirely contingent” on the resilience of its small-scale farmers, who have historically been overlooked by premium global markets.

“In Sri Lanka, smallholders account for over 75% of our national production. Across Asia, millions of families maintain the quality and character of our regional teas,” he stated, accepting the chairmanship for the 2025-2027 term.

To empower this vital community, Udugampola unveiled a vision focused on Sustainability, Equity, and Digital Transformation. The strategic agenda includes:

Climate Resilience: Promoting climate-smart agriculture and regenerative farming to protect smallholdings from environmental disruption.

Digital Equity: Leveraging technology like blockchain to create farm-to-cup traceability, connecting smallholders directly with premium consumers and ensuring fair value.

Market Expansion: Driving innovation in tea products and marketing to attract younger consumers and enter non-traditional markets.

Standard Harmonization: Establishing common regional quality and sustainability standards to protect the “Asian Tea” brand and push for stable, fair pricing.

Linking the alliance’s goals to national ambition, Udugampola highlighted Sri Lanka’s target of producing 400 million kilograms of tea by 2030. He presented the country’s “Pivithuru Tea Initiative” as a model for other ATA nations, designed to achieve this through smallholder empowerment, digitalization, and aligned policy objectives.

By Sanath Nanayakkare

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Brandix recognised as Green Brand of Year at SLIM Awards 2025

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Brandix has championed best practices in the sphere of sustainable manufacturing over the years

Brandix Apparel Solutions was recognised as the Green Brand of the Year at the Sri Lanka Institute of Marketing (SLIM) Brand Excellence Awards 2025, taking home Silver, the highest award presented in the category this year.

The ‘Green Brand of the Year’ recognises the brand that drives measurable environmental impact through sustainable practices, climate-aligned goals and long-term commitment to protecting natural resources.

A pioneer in responsible apparel manufacturing for over two decades, Brandix has championed best practices in the sphere of sustainable manufacturing covering environmental, social, and governance aspects. The company built the world’s first Net Zero Carbon-certified apparel manufacturing facility (across Scope 1 and Scope 2) and meets over 60% of its energy requirement in Sri Lanka via renewable sources.

Head of ESG at Brandix, Nirmal Perera, said: “Being recognised as Green Brand of the Year is an encouraging milestone for our teams working across sustainability.”

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