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Ceylinco Life’s 9-month income up 14% to Rs 26 billion

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Sri Lanka’s life insurance market leader Ceylinco Life has posted consolidated income of Rs 26 billion for the nine months ending 30th September 2020, achieving noteworthy top line growth of 14 per cent in a period dominated by adverse conditions for business.

Gross Written Premium income for the period grew by 13.8 per cent to Rs 15.5 billion, while investment and other income increased by 14.3 per cent to Rs 10.8 billion, the Company reports.

Ceylinco Life transferred Rs 6.7 billion to its life fund for the period under review, enlarging the life fund to Rs 103.6 billion as at 30th September 2020 and transferred Rs 2.9 billion to the shareholders’ fund in respect of the nine months, increasing the shareholder fund to Rs 35.8 billion at the end of the third quarter.

The Company said it paid Rs 9.1 billion in net claims and benefits to policyholders for the period, an increase of 12.8 per cent over the corresponding nine months of the previous year.

Ceylinco Life reported profit of Rs 5.29 billion before tax and Rs 4.18 billion after tax for the nine months, recording declines of 8.4 per cent and 6.7 per cent respectively, on account of a lower transfer of Rs 2.9 billion to shareholder profits as against Rs 3.3 billion for the first nine months of 2019.

“Our results reflect Ceylinco Life’s ability to maintain its momentum in terms of volumes even in difficult times, as well as the resilience of the Company’s investment strategies,” Ceylinco Life Managing Director/CEO Thushara Ranasinghe commented. “A decline in profits was anticipated and factored in, as a consequence of the need to make provisions for the continuing impact of the COVID-19 pandemic on the business. We remain confident that our business model will generate equitable returns for policyholders and shareholders alike, while expanding the footprint of life insurance in the market.”



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Cabraal briefs Chief Incumbents on Port City Project Commission Bill

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On the instructions of the President and the Prime Minister, State Minister of Finance Ajith Nivard Cabraal on April 19 visited the Asgiriya Chapter, the Malwathu Chapter and the Chief Prelates of the Amarapura and Ramanna Maha Nikayas and briefed them on the relevant draft commission bill on Port City Project.

Cabinet Minister Prasanna Ranatunga, Minister of State Lohan Ratwatte, Minister of State Kanaka Herath, MP Wasantha Yapa Bandara and MP Kokila Gunawardena were also present on the occasion.

 

 

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Growing importance of training for nurses taking care of patients with NCDs

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To keep pace with the rapid expansion and increasing complexity of elderly home healthcare, training needs of home healthcare nurses must be identified and subsequent training programs implemented. English Nursing Care conducts training sessions on a weekly basis covering a variety of care needs for Non-Communicable Diseases (NCD) such as diabetes. The World Health Organisation (WHO) record that NCDs are estimated to account for 75% of total deaths in Sri Lanka.

Furthermore, according to the Sri Lankan Ministry of Health “although people are living longer, they live more years suffering from disease and disability, mainly from NCDs; life expectancy at birth in Sri Lanka is 74.9 years but healthy life expectancy at birth is only 67.0 years.” This has a significant impact on quality of life.

English Nursing Care Sri Lanka works towards improving the quality of life of the elderly living with NCD’s by training nurses on the most advanced and developed methodologies brought through years of experience internationally and locally. Being responsible for the well-being of your loved ones is pivotal in the service they provide.

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SriLankan Airlines welcomes Indian delegation to Sri Lanka

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SriLankan Airlines in a bid to recommence Indian tourist arrivals to Sri Lanka under the proposed bio-bubble tourist arrival concept successfully completed a familiarization tour for Indian media and travel trade professionals recently. A delegation of tour operators, agents, and senior editors representing influential media institutions concluded a familiarization tour in Sri Lanka.

The delegation spent six nights and seven days touring the country while being subjected to mandatory PCR testing and other health guidelines imposed by the Ministry of Health. Upon arriving in Sri Lanka, the delegation toured the most sought-after local tourist sites including Dambulla, Kandy, Nuwara Eliya, and Bentota. The tour was initiated by SriLankan Holidays and the ground arrangements for the tour were handled by Jetwing Travels, Aitken Spence, Sri Lanka Convention Bureau (SLCB), and Hamoos Travels.

The main purpose of their participation in this fam tour was to restore confidence in visiting Sri Lanka, especially among the Indian tourists to provide them in-depth knowledge on how the country’s tourism industry operates under the bio-bubble concept. Apart from visiting various places, they experienced the stringent health and safety protocols adopted by the country in resuming tourism under the “bio-bubble” concept allowing tourists to roam around without mixing with the local population.

During their stay here, the delegation was hosted for a virtual meet-and-greet with SriLankan Airlines Chairman Ashok Pathirage, Chief Executive Officer Vipula Gunathilleka, and Head of Worldwide Sales & Distribution Dimuthu Tennakoon. The discussion focused on the airline’s operations to India, vaccination and quarantine travel arrangements between the two countries, current safety measures, and guidelines pertaining to the bio-bubble concept. They lauded the effort taken by officials to make their trip a memorable one.

The Indian delegation was highly impressed with the opportunities they were given to travel and explore the country and its exclusive holiday prospects for the enthusiastic traveller. This fam tour was a manifestation of the immense potential of Sri Lanka as a post-covid travel destination enticing the Indian traveller.

 

 

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