When the children of your earliest customers return to buy their own life insurance policies, it says something about the brand you’ve built. Ceylinco Life is now turning its focus to the future. It is introducing digital tools, rethinking products, and reaching out to Gen Z and Gen Alpha. At the same time, it remains committed to staying close to its customers. Programmes like the Family Savari, Pranama scholarship scheme, and grassroots activations help maintain that connection. In an increasingly digital world, the company continues to show that the human touch still matters. Ranga Abeynayake, Executive Director/ Deputy Chief Executive Officer of Ceylinco Life, and Samitha Hemachandra, Executive Director/ Chief Operating Officer of Ceylinco Life, share how the brand is preparing for its next chapter.
When you reflect on Ceylinco Life’s origins, what guiding ambition planted the seed for today’s market leadership?
Ranga: I remember our Managing Director once said, “We are not the best because we are the biggest. We are the biggest because we are the best.” That philosophy captures Ceylinco Life’s journey. From the very beginning, our company was built on a strong value system. Credit goes to our Executive Chairman, Mr. R. Renganathan, and our Managing Director, Mr. Thushara Ranasinghe, for instilling those values early on. Even during challenging times, whether within the Ceylinco Modernising insurance with digital tools and human connection How Ceylinco Life Protects Families Across Generations of Change Group or across the wider economy, we never wavered from our standards or professionalism. I believe that sets us apart from the rest.
Every strategic decision we make puts long-term value for policyholders above short-term gains. This principle has guided our culture, our operations, and the way we do business. We’ve always focused on what customers need, and we’ve built a team of skilled professionals, from our employees and sales force to our reinsurers. That combination has allowed us to innovate in product development and offer the best possible solutions. In the end, I would say, it’s our values, our people, our global partnerships, and our timely embrace of digital tools that have helped us earn, and keep, our place as market leader.
“A Relationship for Life” is more than a tagline for Ceylinco Life. How does that promise influence product innovation and service experiences?
Samitha: “A Relationship for Life” is the perfect fit for a life insurance company. Ours is a long-term business, where policies typically span 10, 15, even 20 years. We’re not just selling a product; we’re building lifelong relationships. We’ve been around for 37 years. Many of the policies we issued early on are now maturing, and we’re seeing a new generation, the children of those original policyholders, coming to us for their own coverage. That kind of continuity shows the strength of our bond with customers.
To keep that relationship alive, we’ve gone beyond the policy contract. We regularly engage with policyholders through initiatives like the “Family Savari,” which offers overseas and local tours for entire families. We recently held our 18th edition, taking families to China, Malaysia, and Pearl Bay. We also run educational events, breakfast meetings, and our Pranama Scholarship Programme, where we award high-performing students of policyholders with substantial scholarships.
These experiences build emotional connections and bring tangibility to an otherwise intangible product. On the innovation front, we’ve introduced investment-oriented products with competitive returns, tailored for long-term policyholders. At the end of the day, it’s about being present throughout a customer’s journey, not just at the start or when a claim is made.
Sri Lanka’s economy has weathered multiple storms. How was the company steered through such macro-challenges without losing sight of its core values?
Ranga: Ceylinco Life has been a financially stable and growing company. We’ve always been vigilant and proactive in understanding market volatility and the broader economic challenges we face.
By following a conservative and prudent approach in how we design products, manage operations and investments, and ensure proper governance, we’ve been able to steer the company through even the toughest conditions. For example, during the pandemic and the recent economic crisis, we quickly enabled remote work for staff and our sales force. We monitored operations daily, held virtual meetings with department heads, and managed our cash flows with strict budget controls. All payments to policyholders were made on time, and we also supported both our staff and customers with health guidelines and assistance where needed.
I must say, the company produced strong results despite the uncertainty. In 2020, we recorded a premium income of Rs.22 billion with 18% growth, and a profit after tax of Rs.6.9 billion. In 2022, amid the economic downturn, our premium income rose to Rs 29.1 billion with 14% growth, and profits reached Rs.7.6 billion, up 13%. Our financial strength helped us keep our promises, take care of our people, and continue delivering for both policyholders and shareholders.
Introducing life insurance to a person is no easy task. How has the company developed its sales channels to produce life insurance professionals who can talk about a complex topic to the public?
Samitha: Our sales channel is structured in layers. At the front, we have the life insurance advisors. They’re the soldiers, meeting people and introducing the need for life insurance. Above them are the agency supervisors, each guiding three to four advisors. Then you have the agency heads or branch managers, overseeing the full team. Most of our leaders started as advisors themselves. So, the training comes with real experience: what worked, what didn’t, and how to handle different types of customers. That’s how we build professionals.
We also have a training team that steps in regularly. They take our advisors through the sales cycle, teach customer segmentation, and improve selling skills. Then there’s the Continuous Professional Development (CPD) programme, which every advisor must complete annually. It includes product training, underwriting knowledge, and more. It’s all available online and in person, so they can access it anytime through our intranet. And of course, we bring in external trainers now and then, too. Some of our team members are rookies, still learning. Others are veterans, handling more complex products. But the goal is the same: to make sure every advisor can explain life insurance to our customers in simple, clear language.
What’s the company’s philosophy for nurturing employees so they grow into tomorrow’s leaders within Ceylinco Life?
Ranga: We have a committed team that forms the backbone of our success. From the Chairman and Managing Director to the senior leadership team, we’ve built a strong foundation over the past three decades, which has allowed Ceylinco Life to thrive. Our philosophy for nurturing future leaders is clear and intentional. It’s a continuous process where we identify high-potential individuals and support their growth. Through personalised training, skill development, and empowerment, we prepare them to take on greater responsibilities and lead with confidence.
Many of them are already demonstrating leadership by inspiring teams and adapting to changing environments. That gives us confidence in their ability to shape the future of the company. We also believe in giving our people room to grow. We encourage initiative, offer the tools and guidance they need, and create an environment where they can add value not just to the company, but to their own personal journey as well. By investing in their development, we are investing in the long-term success of Ceylinco Life.
The Ceylinco Life Head Office, Colombo 05
The Ceylinco Life brand, with its famous father and child logo, has retained its strength and visibility. How have you invested in the brand to bring it to its iconic status?
Samitha: It has evolved over time. Initially, the father-and-child logo was just an artistic concept, and later, we brought in a real father and child. A few years ago, we ran research to see if the logo still felt contemporary. We gathered insights from different customer segments and modernised them accordingly.
But why a father and a child? Because, in our society, the father is often seen as the provider and protector. Life insurance, at its core, is about protection, making sure the family is safe if something happens. So, the logo represents that duty in a simple, powerful way. Over the years, the icon has become widely recognisable. Even without the name, people know it. And we’ve reinforced that through all our corporate communications. It’s about a father’s love, his care, and his responsibility. And I believe it is very emotional.
Given your commitment to cutting your carbon footprint and building green-certified branches, how do you weave sustainability into a fast-moving insurance operation?
Ranga: We currently operate 30 green-certified branch buildings, each equipped with solar power and energy-efficient systems. Sustainability is embedded in our strategy, decision-making, operations, and culture. It’s not a standalone initiative but integrated into our business processes, including product development. We now focus on offerings like micro-insurance and policies with ESG elements, aligning with global sustainability goals.
Ceylinco Life has led several pioneering efforts in the life insurance industry, from designing green branches to adopting eco-friendly practices such as issuing e-statements to customers. Our CSR efforts also reflect this commitment, including reforestation projects and enabling green investments. One milestone we are especially proud of is our role in launching the first-ever DFCC Green Bond, where we invested Rs.2 billion as the anchor investor. That was a clear demonstration of our belief in long-term, responsible investing.
We see sustainability as a fiduciary duty. It is our responsibility to help build a better, greener world for future generations, while continuing to serve our policyholders with professionalism and care.
Fast-forward a decade: which uncharted markets, technologies, or product ideas have you already begun exploring?
Samitha: As a brand, we’re strong. We check in regularly through research, and we’re proud to say our recall rate is very high. That’s because we’ve consistently delivered value to our policyholders, the public, and other stakeholders. Looking 10 years ahead, we see future markets in the next generation. We’ve already sold policies to the children of our original customers, and now we’re targeting Gen Z and Gen Alpha. Right now, they may start with smaller policies, but in time, they’ll become major customers.
Their needs are different, so we’re developing new products and communications based on insights we’re gathering from universities and younger segments. Our team is working closely with these groups to understand what they want. We’re also transforming our sales force into digital agents. Everything’s done on tablets now, no paper. It’s easier for younger customers, too. We’ve introduced online plans, though demand is still growing. In our market, many still prefer a human touch, so we use a hybrid approach. We’ve identified the segments, the products, the communication strategies, and the technology. It’s all in the pipeline. We’re getting ready for what’s next.
Further information about the 100 Most Valuable Brands in Sri Lanka:
Sri Lanka’s Top 100 Most Valuable Brands
Introducing Brand Finance and Sri Lanka’s Most Valuable Brands
Brand Valuation Methodology: Identifying Sri Lanka’s Top 100 Brands