Ceylinco Life wins SAFA Gold and TAGS Silver for 2022 Annual Report

The 2022 Annual Report of Ceylinco Life has been recognized for excellence in financial reporting in Sri Lanka as well as in the South Asian region, a company news release said last week.

Titled ‘Steadfast and Unwavering” the Integrated Report of Sri Lanka’s life insurance market leader won the joint Gold Award for ‘Best Presented Annual Report’ in the Life Insurance sector at the South Asian Federation of Accountants (SAFA) Awards hosted by the Institute of Chartered Accountants of India in New Delhi, it said.

This noteworthy accolade came days after the same Annual Report received the Silver in the Life Insurance category at the CA Sri Lanka ‘TAGS’ Awards, anchored on the four principles of Transparency, Accountability, Governance, and Sustainability (TAGS). It was CA Sri Lanka’s 57-year old Annual Report Awards Competition, which was reconceptualized and rebranded as “TAGS Awards” in 2022.

Ceylinco Life’s Annual Report for 2022 was also recognized among the ‘10 Best Integrated Reports’ at the Certified Management Accountants (CMA) awards presented in 2023.

“The standards of corporate reporting and the scope of corporate disclosures continue to grow each year, and a lot of effort goes in to ensure that our Annual Report provides all stakeholders a transparent and holistic view of every aspect of our operations,” Ceylinco Life Senior Executive Director/Chief Financial Officer Mr Palitha Jayawardena said. “Winning regional and local awards attests to our commitment to meet international standards and requirements for best practices in this extremely important sphere.”

The award-winning Ceylinco Life Annual Report for 2022 was the Company’s eighth Integrated Annual Report and provided stakeholders valuable insights into the Company’s value creation process and its strategic framework in addition to providing a true and fair view of financial performance. It also covered the environmental and social impacts generated by the Company’s operations in Sri Lanka and provided strategic and governance information, and details of key risks, opportunities and outcomes, the release said.

Adjudged Sri Lanka’s Brand of the Year for the second successive year in 2023, Ceylinco Life has been named the ‘Best Life Insurer in Sri Lanka’ by World Finance for nine years, and was conferred the title of ‘Peoples Life Insurance Service Provider of the Year’ at the 2023 SLIM Kantar Peoples Awards for the 17th consecutive year. The Company was also named one of the 10 Most Admired Companies in Sri Lanka in 2023 by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). It was ranked the ‘Most Valuable Insurance Brand in Sri Lanka’ across both life and general insurance categories in 2023 by Brand Finance, and certified a ‘Great Workplace’ in Sri Lanka for the third consecutive year in 2022.

Ceylinco Life has been the country’s leading life insurer for more than half of the 35 years it has been in existence and provides innovative life insurance solutions which offer protection while de-risking the goals and ambitions of the Company’s one million policyholders, the release said.

TAGS Silver awards on behalf of the company.