Ceylinco General Insurance reveals premium income of Rs.19.8bn in 2019
View(s):Sri Lanka’s insurance giant, Ceylinco General Insurance Ltd, has posted a strong financial performance in 2019.
Giving details, Patrick Alwis, Managing Director /CEO of the company, said: “The company recorded a premium income of Rs.19.8 billion, which indicates an increase of over Rs. 600 million year-on-year. This performance is even more significant against the backdrop of the Easter Sunday bombings that brought the entire country to a grinding halt. More importantly, despite the price undercutting practiced by many players, customers have understood that Ceylinco VIP On The Spot offers the best value for money with innovative and superior benefits.”
In a media release, he said that Ceylinco General Insurance paid claims amounting to Rs. 10.6 billion during 2019, settling all genuine claims on the spot or within 24 hours where customers have not accepted on the spot. “We assure our policyholders of our continued commitment to bring better and faster solutions to benefit them. This outstanding performance was made possible due to the valiant efforts of each and every staff member of the Ceylinco General Insurance family,” he added.
Innovation has been the cornerstone of the company’s success through the year under review. In July 2019, Ceylinco General Insurance introduced a standalone Serious Illness cover of up to Rs. 500,000 per annum that reimburses medical costs incurred in the treatment of diagnosed serious illnesses, including heart disease, cancer, kidney failure, stroke and several others, even providing a cover for heart attack and open heart surgery, major organ transplants, chronic lung and liver diseases, deafness, blindness, multiple sclerosis, paralysis etc.