Ceylinco Life policyholders receive Rs. 6 bn in annual bonuses

Ceylinco Life has distributed more than Rs. 6 billion in annual bonuses, including a one-time special bonus to commemorate the company’s 35^th anniversary, to 197,131 loyal policyholders.

An increase of Rs. 1.7 billion or 37.27 per cent or over the bonuses declared in respect of 2021, the recent pay-out reflects the growth and strength of the company and represents another example of customers benefitting from the success of Ceylinco Life, which celebrated its 19^th consecutive year of market leadership in 2022, the company said in a statement.

“Our ability to substantially increase our bonus pay-out in times as challenging as these, underlines the depth of the company’s investment management expertise and provides a significant confidence booster to existing and prospective customers,” Ceylinco Life Managing Director/CEO Thushara Ranasinghe said. “These bonuses also provide additional protection to the policyholders by increasing their life cover in the event of a claim.”

Including the special anniversary bonus and the regular annual bonus, Ceylinco Life declared a total of Rs.6.254 billion in bonuses for 2022, comprising Rs.1.518 billion in interim bonuses, Rs.2.368 billion in new reversionary bonuses, and Rs.2,368, in new terminal bonuses.

 
The special one-time bonus that was distributed to policyholders was based on the type of plan, duration of the policy and the basic sum assured and was meant as a token of appreciation of the loyal patronage of its policyholders. Meanwhile, the annual bonuses are designed as a value addition scheme for active with-profit life insurance policies, and rewards policyholders for their continued trust and support.