Janashakthi Life records over Rs.5 bn profit for second consecutive year
View(s):Janashakthi Life, one of the fastest growing Life insurers in Sri Lanka, has recorded Rs.5.7 billion profit before tax (PBT) for the period under review (2024), passing Rs.5 billion for the second consecutive year, the company said in a media release.
Reflecting on the company’s achievements, Ravi Liyanage, Director / CEO of Janashakthi Insurance PLC, said, “Our strong financial performance in 2024 is a testament to our strategic focus, operational excellence, and steadfast commitment to serving our policyholders. Despite market uncertainties, we have continued to grow, delivering exceptional value to our policyholders and all the stakeholders. Our exponential growth trajectory was double the size of the industry growth to reach 44 per cent in revenue growth surpassing over Rs.6.6 billion premium income whilst not compromising the value creation to our investors and shareholders recording over Rs.5.7 billion PBT.”
Looking ahead, the company is well-poised to maintain its momentum as the fastest-growing insurance provider in 2025. The company has already deployed well focused strategies for market and distribution expansion in keeping with product / market as a matrix for growth. Some of the innovative products are being developed for emerging segments of the life insurance market in 2025. Further, plans are already in place to deliver best-in-class service through focused customer lifecycle management. The company is also executing robust digitalisation initiatives to strengthen its position as a pioneer in digital innovation. Janashakthi Life’s total assets amount to Rs.38 billion at the close of 2024, reflecting robust growth.
Annika Senanayake, Chairperson of Janashakthi Insurance PLC, commented on the performance, “Our performance in 2024 reflects not only our financial strength but also our deep commitment to supporting our policyholders when it matters most. The significant increase in claims paid denotes our dedication to being a reliable partner in our customers’ lives, providing them with financial security and peace of mind.”
She said in 2024 the company provided over Rs.4.2 billion in benefits to its policyholders through claims and maturities.
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