Business

Ceylinco Life crowned Sri Lanka’s Brand of the Year

Published

4 years ago

2022/12/18

Life insurance leader also wins second consecutive Gold as Service Brand of the Year and Silver for Innovative Brand of the Year Ceylinco Life achieved the ultimate in brand success on December 8 when it was crowned Sri Lanka’s Brand of the Year – the top accolade presented by the Sri Lanka Institute of Marketing (SLIM) – transcending brands of all sectors of business, the company announced in a news release.

It said the life insurance market leader also won the Gold award as the Service Brand of the Year at the 2022 edition of the SLIM Brand Excellence awards, repeating a feat it achieved in 2021, and took the Silver for Most Innovative Brand of the Year for its ground-breaking product ‘Ceylinco Life Pension Saver.’

“This is a great way to bring 2022 to a close,” Ceylinco Life Chairman Mr R. Renganathan commented. “Adversity is a true test of character, and to be named the Brand of the Year in one of the most challenging years in memory is possibly the best way to demonstrate the strength and dynamism of a brand. We dedicate this award to the fortitude and passion of every member of the Ceylinco Life family and to the million Sri Lankan lives under our protection.”

Easily the biggest event of the year for the professional marketer fraternity, the SLIM Brand Excellence Awards recognize top brands with five main awards and 10 special awards every year.

For the purpose of these awards, multiple aspects of brand building are evaluated under the headings of Brand intent, Brand content, Brand process and Brand performance, assessing not just the commercial success of brands but their fulfillment of promises to consumers. The SLIM Brand Excellence awards are considered the ultimate recognition of the courage, dedication and perseverance marketers have demonstrated in making their brands champions.

This is the second consecutive year that Ceylinco Life has won a prestigious triple at the SLIM Brand Excellence awards. At the awards presented in respect of 2021 the Company was adjudged Sri Lanka’s Service Brand of the Year and took the Gold for Best New Entrant Brand of the Year for ‘Pension Saver’ and won the Silver for CSR Brand of the Year.

Ceylinco Life’s award-winning ‘Pension Saver’ product is a Retirement cum Life Protection Plan that offers a Premium Assurance Benefit, Loyalty Rewards, and a monthly pension after maturity. The marketing of the product has helped significantly raise awareness about the importance of retirement planning for Sri Lankans, which is clearly communicated via the product’s features as well as the touchpoints and messaging used to promote the brand.

Adjudged the ‘Most Valuable Life Insurance Brand in Sri Lanka’ by Brand Finance and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022, Ceylinco Life was declared Sri Lanka’s Service Brand of the Year by the Sri Lanka Institute of Marketing (SLIM) in 2021 and won the SLIM Kantar Peoples Award as the Most Popular Life Insurance Company in Sri Lanka for the 16th consecutive year, also in 2021. Ceylinco Life has been the country’s leading life insurer for more than half of the 34 years it has been in existence.

XOther accolades won in respect of 2021 include the ‘Most Popular Service Provider’ in Sri Lanka’s Life Insurance industry from LMD, the ‘Most Valuable Life Insurance Brand’ in Sri Lanka from Brand Finance, one of the 10 Most Admired Companies in Sri Lanka from the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA) and one of the 10 Best Workplaces in Sri Lanka’s Banking, Financial Services and Insurance (BFSI) sector from Great Place to Work.

“Ceylinco Life has close to a million lives covered by active policies and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.” the release said..

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

5 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

5 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

5 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.