Directors of Ceylinco Life with members of the presentation party at the 2023 Most Admired Companies awards.
Ceylinco Life has been honoured once again as one of the ‘10 Most Admired Companies in Sri Lanka’ by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA).
Ceylinco Life is the only insurance company among the prestigious ‘Top 10’and the five other companies accorded ‘Honourable Mentions’ in the latest edition the ‘MAC Awards’ presented on August 18. This is the fourth occasion that Ceylinco Life has been recognised as one of the country’s Most Admired companies.
“Admiration, like respect, is hard earned and is based on both objective and subjective metrics,” Ceylinco Life Managing Director Thushara Ranasinghe commented. “At Ceylinco Life we have always believed that quantitative indicators like financial performance must be perfectly balanced with qualitative indicators like empathy, social responsibility and good governance.”
Sri Lanka’s Most Admired Companies Awards have become a cornerstone of recognition within the country’s business landscape, acknowledging organisations that have made remarkable strides in fostering excellence across various domains.
These awards underline the importance of responsible corporate citizenship and coverboth listed and unlisted companies that are honoured not just for financial performance but the value they create for shareholders, customers, employees and the wider community in general.
Ceylinco Life ended 2022 with assets of Rs 191.5 billion, consolidated income of Rs 45.63 billion, gross written premium income of Rs 29.16 billion, a Life Fund of Rs 134.9 billion and an investment portfolio of Rs 165.9 billion. In May this year the Company achieved several noteworthy milestones in financial performance with total assets surpassing the Rs 200 billion mark, total equity topping Rs 50 billion, and investments in financial assets exceeding Rs 175 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 selection process included a financial evaluation done by a team of CIMA members, after which a team from KPMG ratified the scoring and selected the Top 20 organisations for the next round. The second round included a presentation by the companies to the panel of judges.
Companies that had been in business for over five years as of June 30 and are 30% or more Sri Lankan owned were eligible to enter this year’s awards competition.
The post Ceylinco Life honoured ‘10 Most Admired Companies in Sri Lanka’ by ICCSL appeared first on DailyNews.