Ceylinco Insurance PLC (Ceylinco) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE), as part of a ceremony organized to mark the company’s inclusion in the S&P SL 20 Index. The S&P SL 20 Index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum size, liquidity and financial viability thresholds.
CSE Chairman Mr. Ray Abeywardena speaking at the ceremony congratulated Ceylinco for its inclusion in the S&P SL 20 Index and commended the company for remarkable growth since its initial listing, which has seen the company grow its market capitalization to Rs. 33.6 billion from Rs. 55 million since 1988. Mr. Abeywardena added that such compelling progress and the company’s active involvement with the capital market has offered investors value over the years and opportunities to be a part of the company’s growth.
MD/CEO of Ceylinco Insurance PLC Mr. Ajith Gunawardena speaking at the event credited the strong performance of Ceylinco over the years to its staff, valued customers, innovative products and a strong distribution network venturing into all parts of the country. Mr. Gunawardena went on to express the company’s commitment to continue its growth agenda and offer further value to its shareholders.
The Chairman of Ceylinco Insurance PLC Mr. Godwin Perera, MD/CEO of Ceylinco Insurance PLC Mr. Ajith Gunawardena, MD/CEO of Ceylinco Life Insurance Ltd Mr. R Renganathan, MD/CEO of Ceylinco General Insurance Ltd Mr. Patrick Alwis, Deputy CEO of Ceylinco Life Insurance Ltd Mr. Thushara Ranasinghe and the Head of Finance of Ceylinco General Insurance Ltd Mr. Nihal Peiris were present at the event. Chairman Mr. Ray Abeywardena, Directors Mr. Anton Godfrey and Mr. Dilshan Wirasekara, CEO Mr. Rajeeva Bandaranaike and the Senior Management from CSE were also present at the occasion.
The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS®), which was co-developed by S&P Dow Jones Indices and MSCI and is widely used by market participants throughout the world.