Financial Times

Ceylinco Insurance wins regional awards

With its "One and Only" insurance product, Ceylinco Insurance was voted the most innovative insurance company at the 10th Asian Insurance Industry Awards 2006, recently held in Brunei.

The policy impressed the judges working in the Asian, as well as global, markets. "Ceylinco Insurance has long been regarded as one of the more innovative players in the market and with the launch of 'One and Only' it is clear that the company is continuing the tradition," the judges review said.

For the innovation category the company beat off some stiff competition from Swiss Re, HSBC International Life, American Home Assurance, among others.

Ajith Gunawardena, Ceylinco Insurance Chief Executive Officer/Director, said that the staff won the award for the company as they were the ones who came up with the policy.

"We are also going to export this policy around the world as it is a unique concept that has interested insurance players in other countries. Initially we are looking at 10 countries in Asia and the Middle East," he said.

The policy can be activated at Laugfs and Arpico supermarkets for as little as Rs 20 that will offer a maximum of Rs 5,000 in the case of accidents and property damage. Continual additional payments into the policy will eventually lead to a financial ceiling of Rs 1 million. (RI)

The awards are jointly organised by the Singapore-based Asian Insurance Review and London-based The Review.

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