Ceylinco Life named as one of Sri Lanka’s 10 Most Admired Companies in 2021

Ceylinco Life has been named as one of the 10 Most Admired Companies in Sri Lanka in 2021 by the International Chamber of Commerce Sri Lanka (ICCSL), in collaboration with the Chartered Institute of Management Accountants (CIMA).

Ceylinco Life is the only insurer in the ‘Top 10’ and five other companies recognised with ‘Honourable Mentions’ in the latest edition of this prestigious list. This is the third occasion that Sri Lanka’s life insurance leader has been honoured as one of the country’s Most Admired Companies.

“We are elated to be named as one of Sri Lanka’s Most Admired Companies, especially at a time when retaining public respect and admiration is most important,” Ceylinco Life Managing Director Thushara Ranasinghe commented. “Adversity is the true test of a business and we attribute our ability to improve our position in this list to the remarkable degree of consistency we have maintained in our approach to our mission of derisking the future for our customers, despite the effects of the pandemic.”

The Most Admired Companies list includes both listed and unlisted companies that according to the presenters of the accolade, are recognised not just for financial performance but the value they create for shareholders, customers, employees and the wider community in general. The accolade recognises companies that inspire other organisations and entrepreneurs by proving their mettle with consistency, authority and sustainable growth, creating excellent
business performance.

Ceylinco Life ended 2020 with assets of Rs.150 billion, total income of Rs.36.9 billion, premium income of Rs.22.1 billion, a Life Fund of Rs.106.7 billion, an investment portfolio with a value in excess of Rs.133.7 billion and pre-tax profit of Rs.8.7 billion.

The ICCSL-CIMA Most Admired Companies list is based on a stringent evaluation conforming to globally accepted criteria by a distinguished panel of judges. The companies were ranked according to quantitative and qualitative criteria. The quantitative criteria included financial soundness, long-term investment value creation, earnings growth and dividend pay-out, while the qualitative attributes considered were quality of management, quality of products and services, competitiveness, ability to attract, develop and keep talent, innovation and environmental, social and corporate responsibility, including the track record of integrity and business ethics.

According to the presenters, the Most Admired Company accolade is for those that have established themselves as being excellent in business performance and across a number of other discrete performance criteria. The companies that had been in business for over five years as at June 30, 2021 and are 30 percent or more Sri Lankan owned were eligible to enter this awards competition.