Business Times

Janashakthi says RAM Ratings reflect strong performance and healthy financials

Janashakthi Insurance PLC continues to drive forward with consistent growth as revealed by RAM Ratings Lanka. The rating agency rated Janashakthi's long and short-term claims paying ability ratings at A- and P2 respectively, a testament to Janashakthi's consistent service delivery and tenacity within the competitive market, according to a press release issued by Janashakthi.

Janashakthi has the highest paid up capital among quoted insurance companies and has shown high profitability and growth amidst tough market conditions. “We seek to continuously improve our performance and consistently deliver on our ethos of building consumer trust,” noted Janashakthi's Managing Director Prakash Schaffter. “The ratings by RAM is a true reflection of our performance and strength and an endorsement of all the hard work we put in to reach where we are today in this highly competitive industry which has recently seen the entry of many new players.”

The statement said Janashakthi’s shareholders’ funds to insurance funds and shareholders’ funds to total assets ratios improved to 36.96% and 22.77%, respectively. RAM Ratings has valued Janashakthi based on a number of factors, including Janashakthi’s competitive position, financial performance in the life segment and capitalisation levels. Janashakthi's overall competitive position is strengthened by the company's market presence and geographically extensive branch-network and franchise, the country's third largest.

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