Business
Ceylinco Life only insurer among Sri Lanka’s 10 ‘Most Admired’ companies
Ceylinco Life has been honoured once again as one of the ‘10 Most Admired Companies in Sri Lanka’ by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), a company news release said.
“Ceylinco Life is the only insurance company among the prestigious ‘Top 10’ and the five other companies accorded ‘Honourable Mentions’ in the latest edition the ‘MAC Awards’ presented on 18th August 2023. This is the fourth occasion that Ceylinco Life has been recognised as one of the country’s Most Admired companies, “it said.
“Admiration, like respect, is hard earned, and is based on both objective and subjective metrics,” Ceylinco Life Managing Director Mr Thushara Ranasinghe commented. “At Ceylinco Life we have always believed that quantitative indicators like financial performance must be perfectly balanced with qualitative indicators like empathy, social responsibility and good governance. We are therefore delighted to be recognised as one of Sri Lanka’s most admired companies via a comprehensive third-party assessment of multiple aspects of performance and conduct.”
Sri Lanka’s Most Admired Companies Awards have become a cornerstone of recognition within the country’s business landscape, acknowledging organisations that have made remarkable strides in fostering excellence across various domains. These awards underline the importance of responsible corporate citizenship and cover both listed and unlisted companies that are honoured not just for financial performance but the value they create for shareholders, customers, employees, and the wider community in general.
Ceylinco Life ended 2022 with assets of Rs 191.5 billion, consolidated income of Rs 45.63 billion, gross written premium income of Rs 29.16 billion, a Life Fund of Rs 134.9 billion and an investment portfolio of Rs 165.9 billion. In May this year the Company achieved several noteworthy milestones in financial performance with total assets surpassing the Rs 200 billion mark, total equity topping Rs 50 billion, and investments in financial assets exceeding Rs 175 billion, the news release added.
The ICCSL-CIMA Most Admired Companies list is based on a stringent evaluation conforming to globally-accepted criteria by a distinguished panel of judges. Companies are ranked according to financial soundness, long-term investment value creation, earnings growth and dividend pay-out, as well as quality of management, quality of products and services, competitiveness, ability to attract, develop, and keep talent, innovation, and environmental, social and corporate responsibility, including the track record of integrity and business ethics. The selection process included a financial evaluation done by a team of CIMA members, after which a team from KPMG ratified the scoring and selected the Top 20 organisations for the next round. The second round included a presentation by the companies to the panel of judges.
Companies that had been in business for over five years as of June 30, 2023 and are 30% or more Sri Lankan owned were eligible to enter this year’s awards competition.
Adjudged Sri Lanka’s ‘Brand of the Year’ and ‘Service Brand of the Year’ by the Sri Lanka Institute of Marketing (SLIM) and ‘Best Life Insurer in Sri Lanka’ by World Finance for the ninth consecutive year in 2022, Ceylinco Life was conferred the ‘People’s Life Insurance Service Provider of the Year’ title at 2023 SLIM Kantar Peoples Awards for the 17th consecutive year.
Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence. The Company was also ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories by Brand Finance in 2023 and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022. 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.
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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