Chandra Schaffter – Sixty years in insurance
View(s):Many people know that there have been and are thousands of unsung Thomians, who have lived honourable lives, serving humanity, in many a field. They are no doubt, a distinct lot imbibed with great traditions handed over by Bishop Chapman, the Founder of he School, who came from Eton in 1851.
Following on the footsteps of several Thomians, this is a brief tribute to a well known business entrepreneur, a man whose success story covering a span of 60 years in the insurance industry has been an uphill task. Chandra Schaffter, a distinguished fellow Thomian of the Cannon De Saram era, was given a commendable school leaving certificate, as he excelled in sports, particularly playing Cricket and Hockey and in studies. He won the Victoria Jubilee Gold Medal for the best All Round student of the College. Incidentally, he later represented Sri Lanka, in both forms of the sport. To quote briefly, from his recent publication, ‘MY SIXTY YEARS OF INSURANCE’
Chandra Schaffter
spanning 135 pages…. I was unable to secure proper employment only because I had no influence or social connections”. However, many who personally know him as the Founder of Janashakthi Insurance would, in unison say, his life was one of determination and of grit with unquestionable honesty that helped him succeed. Schaffter had lost his mother when he was three years old and, his father died on his 11th birthday. S. Thomas’ College, the school by the sea, played the role of “Godfather” to him, providing his entire education and living at the school hostel with no fees levied. He finally did great by his school, not only in work and sports; he was a Prize Winner and Head Prefect as well.
His first employment was in 1952 at Ceylon Insurance Co Ltd. as a Clerk drawing a meagre monthly salary of Rs 130, but kept moving in the same field of work, rising step by step overcoming challenges, tribulations and false rumours to tarnish his good family name and, qualified himself in 1966 creditably in insurance adding ACII to his name. He moved on to Manufacturers Life Insurance, and thence, still further up the ladder as an Insurance Consultant, a Loss Adjuster and as an Insurance Surveyor. Having acquired adequate wide expertise and recognition, with a great fund of goodwill in March 1980, he took responsibilities as “Principal Agent” with PROTECTION AND INDEMNITY, a small company that successfully competed with the “Big Boys”. A few years later, in September 1994, amidst cheers and blessings, he founded one of the leaders in insurance today, JANASHAKTHI INSURANCE LTD to protect our life and property. Today, he is the Deputy Chairman of Janashakthi.
Schaffter’s success in the insurance industry is associated with several honourable men who had faith in him. In his publication, he gratefully remembers them. Some stepped forward in an hour of peril to provide the required monetary guarantees required in terms of the Gazetted Insurance Act. To mention a few notable names — there was, Dr. G. Wignarajah, who helped him in early life, Hema Wijeratne, Rajan Asirwatham, S.K. Wickramasinghe, Deshamanya Nissanka Wijewardena, Tommy Ellawella, T.R. Mirando, Indian Actuary R. Ramakrishnan, and two “seasoned sticks” in insurance, S.l. Fernando and Ms. Thangakone. Many knew he was sincere in his task. The pinnacle of his success was due to his perseverance in life, encouragement from his wife, Lilani and laudable loyalty from his experienced staff. The saga of his 60 years in the insurance industry is a beautiful story of a gentleman and sportsman.
Upali K. Salgado
Colombo resident and former college mate
Follow @timesonlinelk
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