Shri Lanka based Ceylinco Insurance has registered profit after tax (PAT) of Rs1.1bn ($8.37m) for the year ended on 31 December 2011, which is 41.1% higher compared to PAT earned previous fiscal.
For the year 2011, Ceylinco Insurance reported an operational profit of Rs1.3bn ($9.89m), while after tax profit of the group was Rs.1.3bn ($9.89m), with a growth of 39% year on year.
Ceylinco Insurance earned Rs.19.8bn ($150.61m) as premium income with a moderate growth rate of 10.3% during the year 2011.
In its overall premium earning of Rs.19.8bn ($150.61m), its general division contributed Rs.10bn ($76m) and the life division accounted the remaining Rs.9.8bn ($74.54m).
Ceylinco Insurance general managing director/chief executive officer Ajith Gunawardena said what the company has achieved in 2011 was in line with their expectations.
"Our main focus, as always, remains the central figure that drives our business: the customer, and accordingly, during the year under review, Rs.4.9 billion was paid out by Ceylinco Insurance – General, as claim," Gunawardena said.
During the fiscal year 2011-12, the total investments of the company, including both Life and General Divisions, surpassed Rs.47bn ($357.5m), while its assets increased by 24.3% to Rs.61.3bn ($466.26m).