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Ceylinco Insurance ranked 6th in Business Today’s Top 30 for 2019 /20 Roll of Honour

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Once again, for the eighth consecutive year, Ceylinco Insurance PLC, the holding company of insurance giants – Ceylinco General Insurance and Ceylinco Life Insurance – was ranked 6th in the Roll of Honour among the ‘Business Today Top 30’ companies in Sri Lanka. As announced in its edition for 2019/20, Ceylinco Insurance retained its 6th position for the second year as an outstanding player in the corporate sector.

Commenting on the achievement, Ajith Gunawardena, Executive Chairman/Chief Executive Officer of Ceylinco Insurance PLC said: “Financial Year 2020 was one of the most challenging for the corporate sector – not merely in Sri Lanka but the world over. Organisations who face these challenges fearlessly with re-aligned strategies will perform well. The corporate sector in Sri Lanka has weathered many storms and shown great resilience. We are humbled by the fact that once again we are ranked at No. 6 among the distinguished top 30 companies in Sri Lanka. Ceylinco Insurance PLC has demonstrated great resilience, surmounting every challenge with sustainable strategies. I would like to express my gratitude to our loyal customers for placing their trust and belief in us through the most difficult times. It is their loyalty and confidence that motivates us to reach higher, as we make every effort to serve them beyond their expectations. I wish to dedicate this recognition to our valued customers, our staff and my fellow directors for enabling us to reach another milestone in our vibrant journey.”

Deputy Chairman of Ceylinco Insurance PLC and Ceylinco Life chairman R. Renganathan said: “A company’s true mettle is tested in times of adversity. Ceylinco Life’s performance in 2020 is an excellent demonstration of this. Our ability to adapt to the demands of the ‘new normal’ to not only fulfil our obligations to our customers and stakeholders, but to grow the business in a period of uncertainty and disruption more than justifies our presence among the top 10 of Sri Lanka’s leading corporate entities. Notably, Ceylinco Life also fulfilled all its community-related commitments in 2020, while continuing with its programme of policyholder rewards, despite the challenges of the year.”

As the clear market dominator in the Insurance sector, both, Ceylinco General Insurance and Ceylinco Life Insurance remained far ahead of competition in 2019 as well as in 2020. Ceylinco General and Ceylinco Life also enjoyed the privilege of being voted the ‘People’s Insurance Company’ for the 14th consecutive year. This award reiterates the high regard with which both companies are viewed by the general public and for its continuous contribution towards enhancing the socio-economic development of Sri Lanka. Also, in an exclusive survey carried out amongst the service providers over a period of 12 weeks by LMD magazine, Ceylinco General Insurance had the honour of being the most popular insurer in Service Excellence.

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Business

HNB promotes cashless transactions; joins CBSL’s ‘Rata Purama LANKAQR’ campaign

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Chief Guest for the event Money and Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal, CBSL Deputy Governor and National Payments Council chairperson Yvette Fernando, and CBSL Payments and Settlements Director D. Kumaratunge with HNB Executive Director and Chief Operating Officer Dilshan Rodrigo as he completes a transaction via HNB SOLO at a merchant stall

HNB PLC, partnered with the Central Bank of Sri Lanka to promote the Colombo-leg of ‘Rata Purama LANKA QR’ campaign at Diyatha Uyana, to raise awareness and encourage the public towards cashless payments.

Having already linked LANKA QR to its digital payment app HNB SOLO, the bank was among other financial institutions and telecommunication partners in joining efforts to make cashless QR-code based payments the standard for mobile phones and digital payments countrywide, in moving towards a cashless and digitally-savvy Sri Lanka.

“We are entering a new era of financial technology, where almost all of our daily transactions will require no physical banknotes, but just a smartphone and internet connection with our bank account integrated to a digital payment app.

The Central Bank’s national directive for banks and financial institutions to adopt and integrate LANKA QR into their existing digital payment solutions has prompted an aggressive onboarding of merchants to the new payment solution across the country. With our extensive customer base, SOLO is no doubt a significant contributor to this innovative initiative,” HNB Deputy General Manager – Retail and SME Banking, Sanjay Wijemanne said.

The Colombo-leg of the ‘Rata Purama LANKA QR’ campaign raised awareness regarding SOLO’s many facilities, including zero human interaction, efficiency, and eliminated risks that influenced many vendors to come on board.

 

(HNB)

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Business

Sri Lanka Insurance posts a staggering revenue of Rs. 55.2 billion during 2020

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Amidst the turbulent and challenging year Sri Lanka Insurance has closed year 2020 on a positive note recording phenomenal revenue growth with exceptional service innovations.

Sri Lanka Insurance the premier insurer to the nation recorded stellar performance in 2020 to record Rs. 55.2 billion revenue for the year, a marked improvement on the Rs.48.6 billion in the year 2019, a press release said.

It adds – In the year of 2020 Sri Lanka Insurance reported 30 % growth in life insurance premium increasing to Rs.19.2 billion whilst general insurance reported 7% growth in premium grew to Rs. 20.1 billion. The company achieved a combined Gross Written Premium (GWP) growth rate of 17 % during the year. General insurance contributed 51% towards the total GWP whilst Life Insurance contributed 49 %.

‘In continuing with its tradition of leadership, Sri Lanka Insurance in 2020 surpassed its own record to declare a sum of Rs.8.2 billion as bonus to policyholders. The cumulative life insurance bonus paid out during the past 10 years tops a massive Rs.54 billion making the SLIC bonus payout unmatchable.

‘As the national insurer we have witnessed yet another challenging year and the consequences brought out by pandemic outbreak urged us to conduct our business operations in a more empathetic manner. SLIC has always taken the lead to protect the nation and during this difficult time Sri Lanka Insurance launched many initiatives to sustain country’s health defenses while ensuring our customers receive uninterrupted insurance service.

‘As the pioneering insurance company in Sri Lanka we are in the forefront to inculcate the importance of insurance to the masses as a national responsibility on our shoulders. We will further strengthen internal capabilities to serve the nation through innovative and affordable insurance solutions which cater to all Sri Lankans under the ‘Insurance for All” concept. Even though the times are defining we will continue protecting our nation turning obstacles into opportunities.’ noted .Jagath Wellawatta, chairman of SLIC.

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Bank of Ceylon empowering nation with Lanka Q

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The Bank of Ceylon in its mission to assist the government initiative to empower Sri Lanka through digital technology is joining the customer awareness campaign of Central Bank of Sri Lanka’s Lanka QR digital platform.

Bank of Ceylon had its most recent major awareness programs in Borella and Maharagama along with the other branches in Colombo District in line with the Central Bank’s main program held in “Diyatha Uyana” with the participation of all Lanka QR certified banks on the same day.

Central Bank of Sri Lanka (CBSL) has organized a series of awareness and promotion campaigns for popularizing Lanka QR with the participation of all Lanka QR certified financial institutions throughout the country with the aim of speeding up the customer adaptation process towards digital banking.

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