Ceylinco General Insurance post-tax profit surges in 2Q 2017

Sri Lanka’s insurance giant, Ceylinco General Insurance Ltd has reported a phenomenal surge in post-tax profit for the second quarter of 2017.

In a media release, Ajith Gunawardena, company CEO, said the company recorded a premium income of Rs. 8.7 billion, up by 11.4 per cent from the corresponding quarter in 2016.

The company recorded a post-tax profit of Rs. 431 million, an increase of 286 per cent for the period ended 30th June 2017 whilst the profit before tax stood at Rs. 611 million.

“As a result, Ceylinco General Insurance has maintained its unassailable lead in the midst of stiff competition. This strong growth trend will no doubt help us to end the year on a resoundingly successful note,” he added”.

Elaborating further on the results, Patrick Alwis, company Managing Director, added: “Ceylinco General Insurance paid claims amounting to Rs. 4.9 billion during the 6-month period ended June 2017. A large number of flood claims were paid to over 1,400 customers thus enabling them to return to normalcy in the shortest possible time”.

Recently Ceylinco General Insurance announced yet another breakthrough in motor insurance - a Rs. 1 million cover that will reimburse medical costs incurred in the treatment of heart disease, cancer, kidney failure, stroke and several other serious illnesses including heart attack and open heart surgery, major organ transplants, chronic lung and liver diseases, deafness, blindness, multiple sclerosis, paralysis, etc as an exclusive benefit for Ceylinco VIP-OnThe-Spot policy holders