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Co-operative Insurance records strong 31% growth for 1Q22 amidst macroeconomic challenges

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Over 31% growth in 1Q22

Increases market share by 5%

16.5% PAT (Group) increase for FY21

Leading Sri Lankan insurer Co-operative Insurance Company PLC (CICPLC) recently released its latest results for the first quarter of 2022, placing itself on a stronger position with an impressive growth of 31 percent compared to the same period of the previous year, amidst many macroeconomic difficulties.

During 1Q22, the company recorded a net written premium growth of over 35 percent, along with a market share growth of over five percent compared to the previous year’s first quarter, ranking it among the highest growing companies in the industry.

The company also recorded an increase in investments and is equipped with a strengthened asset portfolio, recording total assets growth by 21 percent.

“During the first quarter of this year, we proved our commitment to all of our stakeholders with unstoppable growth, diversification, sustainability, and the retention of customer loyalty. We achieved a much stronger performance, all while the entire industry faced instability with unavoidable lockdowns and economic instabilities, and there is no doubt that this momentum will be carried forward to oncoming quarters, and years,” notes Co-operative Insurance Chairman Susil Weerasekara.

Demonstrating its improved and strengthened financial position, Co-operative Insurance shared the growth with shareholders through a total dividend payout of Rs.280 mn in the previous year. Earnings Per Share (EPS) is up at Rs.0.54 compared to the previous year’s Rs.0.48.

Consolidated Group profit grew by 16.5 percent in 2021 to Rs.810 mn, surpassing Rs.695 mn from the year before. This growth is a culmination of the 301 percent profit hike recorded by Cooplife, as well as the Profit After Tax (PAT) of Rs.631 mn gained by CICPLC.

For the financial year which ended on December 31, 2021, the company was able to record an impressive 2.7 percent increase in its gross written premium (GWP), along with a 3.5 percent increase in its net earned premiums, while settling claims totaling over Rs.2.4 bn during this period.

The company fared well in the General Insurance space with a 41.6 percent increase in premium income for Non Motor, along with a 8.5 percent GWP increase in Life Insurance, proving the company’s flexibility to adapt to diverse market conditions, despite Motor traditionally being the company’s largest segment.

According to Co-operative Insurance Managing Director Udaya Kumara, “this positive growth trajectory was achieved despite the weakening of the country’s entire general insurance industry, which was a result of reduced revenue during lockdowns and due to a weakening in people’s purchasing power, as well as strategic transformations within the company.”

The company also further enhanced its rural outreach island wide, accommodating new and existing customers with the introduction of third-party insurance counters in its branches.

Moreover, highlighting its financial sustainability, the company also stands out as one of the very few insurance providers to achieve an underwriting profit- a result of the healthy balance between the premiums earned, expenses and claim disbursement.

On the cost front, while the company has a minute reduction in staff over the financial year, it has been able to maintain top and bottom-line growth, showcasing greater efficiency and the ability to sustain quality growth, while applying prudent cost controls- in response to the prevailing situation in the country.

Co-operative Insurance Company PLC is one of Sri Lanka’s foremost leading insurance providers, with a proven track record of sustainable growth and robust financial positioning. The company is on the verge of expanding its scope with novel products and an enhanced branch network, and has already embarked on its journey to make its services more convenient through digital platforms, while working towards creating a financially inclusive Sri Lanka.



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PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education

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P.M. Dr.Harini Amarasuriya

As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.

World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.

The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.

The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.

The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).

Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.

“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”

Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.

“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’

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Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition

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The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.

Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.

This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.

The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.

Sponsorship partners include:

Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.

Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.

Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.

Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.

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NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka

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The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.

As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.

The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.

For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.

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