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Ceylinco Life ranked Sri Lanka’s most valuable insurance brand overall

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Ceylinco Life has been ranked the most valuable brand in Sri Lanka’s insurance industry across both Life and General Insurance categories in the 2023 rankings of the country’s top 100 brands published by Brand Finance, the world’s leading independent brand valuation consultancy.

Brand Finance has assigned a brand value of Rs 3.5 billion for the Ceylinco Life brand, which is higher than the value of the highest-ranked brand in the General insurance sector as well, in the recently released rankings. Ceylinco Life has also moved up one place in the overall rankings to 27th position on Brand Finance’s ‘Sri Lanka 100’ which includes the largest banks, telcos, conglomerates and retail giants.

Ceylinco Life has also received a ‘AA’ Brand Rating from Brand Finance this year which denotes its low credit risk and strong ability to meet financial obligations. Ceylinco Life Managing Director and CEO Thushara Ranasinghe said: “We have consistently been recognised as the most valuable life insurance brand in Sri Lanka. Reaching the top of the entire insurance sector in a year that has witnessed an overall drop in brand values due to the challenges faced by the country, speaks volumes for the resilience of the brand. This is an important validation that the Ceylinco Life brand has continued to build trust and confidence among consumers.”

Referring to the life insurance industry in the country, the Brand Finance report noted that “the Life Insurance industry has faced challenges due to reduced disposable income caused by inflation, rupee devaluation and tax reforms, leading to a decline in demand and premium payment capacity. Additionally, increasing interest rates have diverted clients towards alternative investment options, posing a threat to the life insurance business.”

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