Ceylinco Life has been ranked the most valuable life insurance brand in Sri Lanka in 2019 in the 16th edition of the Brand Finance rankings of the country’s most valuable brands.
Sri Lanka’s life insurance market leader for the past 15 years, Ceylinco Life is also one of the Top 40 consumer brands overall in the ranking of the 100 most valuable brands in the country, a list that includes the largest banks, telcos and retail giants.
Brand Finance assigned Ceylinco Life a brand value of Rs 3.8 billion, 5 per cent higher than the Rs 3.6 billion valuation of 2018, and upgraded the Company’s brand rating to AA+ from AA.
Commenting on this ranking, Ceylinco Life Chairman R. Renganathan said: “Trust is the most valued element in the financial services sector and particularly so in life insurance which involves a customer relationship spanning decades and encompassing families and loved ones. The Ceylinco Life brand has represented trust not just visually, but in terms of demonstrated core values, from the Company’s very inception.Being in the business of life insurance is a responsibility that we take very seriously because our true service comes in to play when our customers find themselves in a distressful situation.”
Richard Haigh, the UK-based Managing Director of Brand Finance said, “The long-standing Ceylinco Life brand has been a leader due to its pioneering initiatives over many decades. The brand has been skillfully positioned in the long term financial planning category rather than being a pure life insurer. By defining a future view for the brand, Ceylinco Life has been able to strategically build it over time. Creating brand value is a long term initiative involving all aspects of the business from new product introductions to employee engagement, which ultimately results in delivering the brand experience to customers.”
Brand Finance is headquartered in London and has a network of international offices including its Colombo office which is a subsidiary company and has been operating in Sri Lanka since 2004.
Ceylinco Life ended 2018 with assets of Rs 118 billion, total income of Rs 29.21 billion, premium income of Rs 17.8 billion, a Life Fund of Rs 88.05 billion, an investment portfolio with a value in excess of Rs 103 billion and net profit of Rs 5.79 billion.
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