Financial Times

Ceylinco Life advances market leadership in 1Q '05
Ceylinco Life has reported premium income of Rs 1081million in the first quarter of 2005, maintaining its overall leadership of the sector and extending its dominance in the new business segment. In a statement, the company said it leads the second placed insurer in the life insurance market by Rs 174.6 million in total premium income, while premium income from new business in the quarter, at Rs 497 million, is more than four times that of the second largest player in the sector.

Ceylinco Life sold 40,782 new policies in the quarter ending March 31, 2005, a growth of 44.7 per cent over the corresponding quarter of last year. The company's total premium income for the quarter under review gives it market share of 31.9 per cent more than five per cent higher than the second placed insurer in the life segment.

At the end of 2004, Ceylinco Life had sold a record 112,704 new policies in the year (a growth of 26.6 per cent over 2003) bringing its total premium income to Rs 3.962 Billion and giving the company a corresponding market share of 31.5 per cent in the life insurance segment, the statement said.

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