Ceylinco Life’s 2019 Annual Report ranked among 10 Best Integrated Reports by CMA

Ceylinco Life’s 2019 Annual Report was ranked among the 10 Best Integrated Reports at the 6th edition of the ‘CMA Excellence in Integrated Reporting Awards 2020’ presented by the Institute of Certified Management Accountants (CMA) of Sri Lanka.

Themed ‘Derisking the Future,’ this fifth integrated annual report of the life insurance leader reflected on the strength of its life insurance products, which enable its policyholders to achieve their potential and aspirations while the company safeguards them as they progress in life.

Ceylinco Life has adopted the Integrated Reporting Framework since 2015 subsequent to the segregation of Life and General Insurance into separate business entities under Section 53 of the Regulation of Insurance Industry (Amendment) Act No 3 of 2011, which came into effect that year. The Company said its intention in Integrated Reporting is to provide a holistic view of how it creates sustainable value for its diverse group of stakeholders.

Commenting on the award, Ceylinco Life Director/Chief Financial Officer Mr Palitha Jayawardena said: “The annual report remains our principal medium of providing stakeholders with a complete picture of the business. Every year, we intensify our efforts to meet and exceed the stipulated standards and to further enhance transparency and the quality of disclosures. This award will provide further encouragement to the team responsible for all the hard work.”

The companies that competed for the CMA Excellence in Integrated Reporting awards consisted mainly of public quoted companies including state and private commercial banks, finance and insurance companies and companies in manufacturing, diversified sectors, plantations, power and energy, education and construction.

The submitted reports were judged based on the Guiding Principles, Content Elements and other fundamental concepts of the Integrated Reporting <IR> Framework issued by the International Integrated Reporting Council (IIRC) with special emphasis on criteria such as strategic focus and future orientation, connectivity of information, value creation, and reliability and completeness.