Ceylinco Life empowers 154 more children with‘Pranama’ scholarships

Life insurance leader’s commitment to reward and motivate future leaders of Sri Lanka totals Rs 100 million

A group of 154 bright young Sri Lankans identified as future leaders of Sri Lanka were felicitated recently with scholarships worth more than Rs 8 million at the 14th annual ‘Pranama’ scholarships presentation of Ceylinco Life.

With this latest round of scholarships, the life insurance leader’s commitment to rewarding and motivating academic and extra-curricular excellence reached Rs 100 million, benefitting a total of 1924 children and young adults.

Addressing scholarship recipients, their parents and teachers at the grand scholarships ceremony at the BMICH, Ceylinco Life Managing Director and CEO R. Renganathan said education continues to increase in importance, competitiveness and cost, placing a heavy burden on parents and children. At the same time, the gap between the needs of private sector employers and the skills and knowledge of graduates passing out of universities, continues to widen, he said.

“While the latter is an issue that the education sector needs to look at, the Pranama scholarships scheme seeks to provide some relief in relation to the former, recognising the fact that the earnings of parents do not keep pace with the rising costs of education,” Mr Renganathan said. “It gives us a lot of pleasure and encouragement to see that many past recipients of Pranama scholarships are now serving the community as doctors, lawyers, engineers and in other professions.”

A highlight of the scholarships presentation ceremony was the keynote address on the topic ‘What is learning?’ by the Guest of Honour, Consultant Surgeon Prof. Ranil Fernando of the Medical Faculty of the University of Kelaniya. Emphasising that “we learn for as long as we live,” Prof. Fernando underlined the need to ensure that learning results in a measurable and relatively permanent change in behaviour.

Ceylinco Life Pranama scholarships are presented to policyholders’ children who achieve the best results in their respective districts at the year 5 scholarship examination, the GCE Ordinary Level, and the GCE Advanced Level as well as to those who excel at the national level in sports, culture, arts, drama or invention. The Company also pays special cash awards to policyholder’s children who are placed second, third and fourth at district level at the GCE Advanced Level examinations.

Students who excel at the year 5 scholarship examination receive Rs. 90,000, payable in instalments over five years under the Pranama scheme. Students who excel at the G.C.E. (O/L) receive Rs. 72,000, payable monthly over two years, while students placed 1st in their districts at the G.C.E. Advanced Level examinations receive scholarships worth Rs. 126,000 each, payable over a three year period.

With this latest round of scholarships, Ceylinco Life increased the one-time payment presented to students placed 2nd, 3rd, and 4th in their districts at the GCE Advanced Level examination to Rs. 15,000 each, an increase of Rs. 5,000. The national merit awards presented are each to the value of Rs. 35,000.

One of many benefits available to Ceylinco Life policyholders, the Pranama scholarship scheme underscores the importance accorded by the company to education, which is one of the key areas of intervention in the Ceylinco Life Rewards programme.

Independently rated one of Sri Lanka’s most valuable brands, Ceylinco Life has maintained its leadership of the country’s long term insurance sector from 2004 onwards. The company operates the largest branch network among local life insurance companies, and has won multiple international and local awards for its commitment to the community and success in brand equity building.