Business Model

Strategic Direction


Short term

  • Retain market share in the range of 25%-26% and maintain market leadership
  • Penetrate new market segments; mainly the affluent market
  • Achieve Rs. 15 Bn Premium income

Medium term (within 3 years)

  • Provide more benefits to policyholders
  • Increase market share up to 28.5%
  • Achieve Rs. 18 Bn premium income

Long term (3-5 years)

  • Achieve Rs. 18 Bn premium income
  • Be placed among the top tier corporates in the country
  • Continue to position Ceylinco Life as one of the leading corporate brands in the country
  • Double our customer base
  • Maintain solvency margins and capital adequacy well above the industry standards


As discussed earlier, the long term (life) insurance market is still largely untapped as evidenced by the low penetration rates. Our overarching strategy is therefore to expand the total life insurance market in Sri Lanka, and thereby gain a larger market share by leveraging our competitive advantage of being the market leader.

In line with our vision of protecting every Sri Lankan family with life insurance, we will focus on the following areas:

Developing manpower and keeping them motivated

We have the industry's most productive and professional sales force in the business. They drive sales and account for about 96% of our overall business. We keep them motivated through recognition and rewards, both monetary and non-monetary.

Expanding our reach through a range of customer touch points

Our branch network is important to reach customers at the grass root level, the largest spread being in the semi-urban areas. We invest in land and construct our own buildings as part of our branch development plan. Many of them are environmentally friendly and include features such as solar electricity generation, rainwater harvesting and natural lighting. We maintain partnerships with selected banks to roll out bancassurance products and services. We also offer our life and retirement plans online on our website.

Building our corporate image

The image we project establishes trust, underpinned by stability of the Company. Our logo ‘Father and Child’ denotes the love and care we have for our policyholders. Our image building is done mainly through corporate advertising and investments in building the corporate brand.

Developing new products based on market needs

Supporting our vision of protecting every Sri Lankan family through life insurance is our new product development based on identifying untapped as well as emerging market needs. Recent new products developed include life insurance protection for women, retirement planning, health and critical illness covers and life protection coupled with returns.

Promoting lasting relationships with policyholders

Consumer engagement through reward programmes that help foster long term ties with the Company. These include all expenses paid trips for the whole family to exciting destinations through our Family Savari scheme.

Pranama Scholarships are awarded to children of policyholders who excel at public examinations, national level sports, aesthetics or inventions.

Cash Bonus: Special cash rewards are paid to loyal life policyholders who have been with the Company for over 10, 15, 20 and 25 years.

Engaging with the community with a focus on health and education

We maintain long term commitments in the areas of community health and educational infrastructure.

These projects include building classrooms in rural schools and ‘Waidya-Hamuwa’ medical camps to those who don’t have access to quality healthcare and educational facilities.