Business
Ceylinco Life invests in a substantial stake in Kings Hospital
Ceylinco Life has entered into an exciting partnership with Kings Hospital (Private) Ltd, one of the newest and most modern private hospitals in Sri Lanka, through a major equity investment, thereby significantly enlarging the Company’s footprint in the healthcare sector and diversifying its investment portfolio.
The Company said this strategic investment has been made via a private placement with an option to further increase its holding in the 120-bed hospital.
Ceylinco Life will take up proportionate representation in the Kings Hospital Board which will catalyse its next growth phase. Synergies between Ceylinco Life and Kings will enhance value for all stakeholders, the Company said.
Ceylinco Life is the market leader in the country’s life insurance sector and is already a pioneer in the healthcare sector. The Company’s wholly-owned subsidiary Ceylinco Healthcare Services Limited (CHSL) set up the first private sector radiation therapy centre in Sri Lanka for the treatment of cancer, and installed the country’s first Linear Accelerator as well as the first TomoTherapy unit, which is to date the only facility of its kind in Sri Lanka. Ceylinco Life also manages the Golden Key Eye and ENT Hospital.
Commenting on this latest milestone in the Company’s evolution, Ceylinco Life Chairman Rajkumar Renganathan said: “Globally, life insurers and healthcare providers have established strategic partnerships with each other to reap the inherent and complementary synergies. This strategic investment capitalizes on synergies, thus creating additional value for all stakeholders including Ceylinco Life policyholders.”
“Ceylinco Life is already a leader in cancer treatment, with major investments in infrastructure and equipment and an impeccable record of success. We have established strong links, affiliations and collaborations with numerous healthcare institutions including Apollo Hospitals of India and now Kings Hospital, Colombo, to widen access to affordable treatment and diagnostics,” Renganathan added. “The acquisition of equity in Kings Hospital signals our serious intentions to increase Ceylinco Life’s presence in healthcare for the benefit of the people of Sri Lanka and as an investment strategy.”
Dr Palitha Abeykoon, Chairman of Kings Hospital said: “We are delighted to welcome Ceylinco Life as a key partner in our Hospital and look forward to working closely with the Company’s management team to execute the next phase of our development. Kings Hospital was established with a vision of bringing high quality, value- based patient, family and community centric health care to the country. Ceylinco Life too is deeply involved in community-centric healthcare initiatives and hence we believe there is an excellent strategic and synergistic fit between our two institutions.”
“We hope to benefit from the extensive experience and expertise of Ceylinco Life in the establishment, expansion and management of healthcare facilities and in the marketing of such facilities and building strong brands. Additionally, the Ceylinco insures more than a million lives, and this would enable us to provide them with the best possible health care that is available to enrich the quality of their lives.”
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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