Ceylinco Life has been declared the ‘Best Life Insurance Company in Sri Lanka’ in 2024 by World Finance, an accolade that company has won for the 11th consecutive year.
The only life insurance company in Sri Lanka to consistently win this prestigious award, Ceylinco Life is in the company of other 2024 country winners of the calibre of MassMutual (USA), Canada Life (Canada), TAL (Australia), Swiss Life (Switzerland), CNP Assurances (France), China Life Insurance Group (China), Nippon Life Insurance (Japan), Max Life Insurance (India), and National Life Insurance (Bangladesh).
Commenting on its Insurance Awards, World Finance noted that navigating the complex changes across the globe to balance risk and affordability is a key issue for the winners of the World Finance Insurance awards. “This year, we recognise the trailblazers driving the insurance industry forward, showcasing the dedication and creativity that define the profession,” the magazine said.
The World Finance award recognises Ceylinco Life as an organisation that is committed to continuously improving its overall processes, efficiency and relationships to serve customers better.
Winners are chosen after a stringent assessment of multiple aspects of operational performance including underwriting processes and process efficiency; policy maintenance – the process of reviewing clients’ policies, appropriateness of coverage and cost per policy; exposure to risk; customer retention rate; time taken to settle claims; new customer acquisition rate and financial stability – Premium Income, Market share, Life Fund and company profits.
The World Finance Awards judging panel represents the expertise of over 230 years of financial and business journalism, supported by a research team that works round the clock to ensure the award winners are the most deserving in their sector. Additionally, reader insight and experience are relied upon to provide nominations. The judging panel is required to avoid bias towards criteria such as depth of practice and size of the company, in order to get an insight into different geographies and niche areas.
World Finance is a print and online magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy. The magazine targets an audience of finance professionals and corporate and private investors, but its lucid voice makes it intelligible and essential reading for anybody who wants to understand the machinations of finance in the 21st century. Established in 2007, World Finance’s awards programmes are tailored to provide a comprehensive analysis of the very best in each market.
Adjudged Sri Lanka’s Brand of the Year in 2022 and 2023, Ceylinco Life was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) and the Chartered Institute of Management Accountants (CIMA) and was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance.
Ceylinco Life has been the country’s leading life insurer for 20 of the 37 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s policyholders.
