Premium income grows by 17.9% to Rs 22.1 billion Investment & other income up 11.3% to Rs 14.9 billion Total assets surpass Rs 150 billion milestone Retains market leadership in life insurance sector for 17th consecutive yearCeylinco Life has achieved consolidated income of Rs 36.98 billion for FY 2020, demonstrating the Company’s ability to grow business volumes and investment returns even in the most challenging conditions. The growth in life insurance business resulted in Ceylinco Life retaining its position as the market leader in Sri Lanka’s life insurance sector for the 17th consecutive year. Ceylinco Life paid Rs 12.2 billion in net claims and benefits to policyholders for the year under review, an increase of 15.7 per cent over the preceding year, and transferred Rs 9.42 billion to its life fund, which grew by 10.94 per cent to Rs 106.74 billion as at 31st December 2020. The Company posted profit before tax of Rs 8.77 billion for FY 2020, reflecting an increase of 6.75 per cent over the previous year. Ceylinco Life’s basic earnings per share for the year amounted to Rs 138.68, while net assets value per share stood at Rs 762.90 as at 31st December 2020.

Source: The Nation February 22, 2021 15:09 UTC