Business Model

About Us

We trace our origins to 1987 when the Government of Sri Lanka permitted the private sector to enter the insurance industry. The new entity Ceylinco Insurance Limited (CIL) commenced operations on 14 January 1988, having inherited the expertise in insurance acquired by Ceylon Insurance Company Limited. CIL was listed on 21 April 1988, becoming Ceylinco Insurance PLC (CIP). Although CIP was engaged in both life insurance and general insurance business segments, the two always operated independently of each other.

Life Division of CIP established its leadership position in the life insurance segment in 2004. It is a feat that has continued to this day.

The insurance industry saw a major regulatory change being introduced in 2011. In terms of Section 53 of the Regulation of Insurance Industry (Amendment) Act No. 03 of 2011, all composite insurance companies were required to segregate their long term (life) insurance business and general (non-life) insurance business into two separate legal entities.

CIP gave effect to the required segregation by setting up Ceylinco Life Insurance Limited and Ceylinco General Insurance Limited to carry on the long term and general insurance businesses respectively, with two separate licences. Ceylinco Life Insurance Limited, incorporated on 22 April 2014, thus took over the Life Division of CIP and commenced business operations from 1 June 2015.

Ceylinco Life Insurance Limited is a fully-owned subsidiary of CIP.

Group Structure

Serene Resorts Limited, a 75% owned subsidiary of Ceylinco Life, serves as our own residential training centre, while Ceylinco Seraka Limited which is a fully-owned subsidiary of Ceylinco Life offers investment advisory services.

Ceylinco Healthcare Services Limited, a 99% owned subsidiary of Ceylinco Life, specialises in the treatment and detection of cancer and diabetes. The centre is equipped with state-of-the-art equipment and has a well experienced and highly qualified panel of consultants. It is also the only cancer treatment centre in the country, to offer Tomotherapy treatment which is considered to be the most advanced radiation treatment for cancer in the world today.

Citizens Development Business Finance PLC (CDB) is licensed by the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011, and also registered under the Finance Leasing Act No. 56 of 2000. It was incorporated as a public limited liability in 1995 and re-registered under the Companies Act No. 07 of 2007. CDB enjoys a (SL) BBB (stable) rating from ICRA Lanka Limited and is listed on the Main Board of the Colombo Stock Exchange. Financial services offered by CDB include term deposits, savings deposits, personal finance, leasing, hire purchase financing, pawning, corporate and retail credit, debit card facilities backed by an island-wide ATM network, dealing with Government Securities, foreign exchange dealership and money exchange dealership. The portfolio of services offered by CDB is wider than many finance companies in Sri Lanka. Ceylinco Life has a 33.54% stake in CDB’s share capital.

Our Standing

Life Insurance Business Year ended
31 December
Year ended
31 December
Our strength
Gross written premium (Rs. Mn) 13,457 12,002 12.12%
Net policyholder benefits (Rs. Mn) 5,957 4,894 21.72%
Investment and other income (Rs. Mn) 6,741 6,826 -1.25%
Our stability
Life insurance fund (Rs. Mn) 68,012 60,022 13.31%
Investments (Rs. Mn) 67,140 57,210 17.36%
Our solvency position
Available solvency margin (Rs. Mn) 19,509 21,163
Required solvency margin (Rs. Mn) 2,365 2,016
Solvency ratio (Times) 8.25 10.50

Our Leadership

Ceylinco Life has created history and marked its journey through many achievements along its way while creating value to its brand and policyholders. Some of those are as follows:

  • Number One Life Insurer in Sri Lanka for 12 consecutive years
  • People’s Insurer for 9 consecutive years – SLIM – Nielsen People’s Awards 2015
  • Most Valuable Insurance Brand in Sri Lanka – LMD ‘Brands Annual’ 2015
  • Best Life Insurance Company in Sri Lanka for 2 consecutive years – The World Finance Global Insurance Awards 2015
  • A Life Fund of Rs. 68 Bn in 27 years
  • Only insurer to reward policyholders with local and overseas tours through the ‘Family Savari Programme’
  • Only insurer to reward policyholders with Cash Bonus in addition to Annual Bonus
  • Only insurer to exceed Rs. 13 Bn in gross written premiums within a year

Our Customers

Our customers come from all 25 districts of the country. They largely belong to the middle income group and are employed. Their age range is typically 25 to 45 years, with males accounting for a higher proportion of the total. They tend to be family oriented and are focused on value for money, stability and security of their investments.