Ceylinco Insurance PLC Posts a Consolidated After Tax Profit Of Rs. 4.7 Billion
- Insurance Sector Profit grows by 54.5 %
- Consolidated Profit increases by 29 %
Marking another remarkable year, Ceylinco Insurance PLC, the holding company recorded a mammoth, consolidated after tax profit of Rs. 4.7 billion, for the year ended 31st December 2016 whilst the profit before tax stood at an exceptional Rs . 5.9 billion. Contributing to this remarkable performance, Ceylinco General Insurance and Ceylinco Life Insurance recorded profits after tax of Rs. 1.3 billion and Rs. 2.9 billion, respectively.
The Managing Director / Chief Executive Officer of Ceylinco Insurance PLC , Mr Ajith Gunawardena commenting on the impressive performance said, “as the clear market dominator, and consolidating its leadership position further for the 13th consecutive year, Ceylinco Insurance sector, in 2016, remained far ahead of the competition. Thus, the Insurance sector managed to return an impressive premium income of Rs. 31.1 billion in 2016, with Ceylinco General Insurance recording Rs.16.1 billion, marking a growth of 18.9 % ; an increase of over Rs.2.5 billion year on year, just as Ceylinco Life Insurance registered a premium income of Rs. 15 billion, marking a growth of 11.7 % ; an increase of Rs. 1.5 billion.