Janashakthi Life records 145% growth in Q2 2021

Janashakthi Insurance PLC (Janashakthi Life) has recorded a growth of 145 percent in first year regular premium business during the second quarter of 2021 with the upward trajectory of gaining two market positions up in first year premium compared to 2020. 

Furthermore, Janashakthi Life also recorded a growth of 50 percent in gross written premium with year-to-date growth of 45 percent reaching a premium income of Rs. 2.4 billion as at end of the period under review. The company recorded a profit before tax of Rs.287.1 million and the investment income recorded approximately Rs. 1 billion.  Furthermore, net claims and benefits to policy holders during this period also recorded nearly Rs. 1 billion, the company said in a media release.

“Our strong performance reasserts the agility and success of our business strategies even amidst challenging economic conditions. It is commendable how the Janashakthi team has gone above and beyond to cater to the customer’s wellbeing reinforcing our commitment to our policyholders. Health and safety of our employees, customers and community are of paramount importance and we will continue to respond responsibly. Furthermore, as a part of the Janashakthi Group we have the opportunity to utilise combined strengths while adapting to the evolving needs of the community,” said Prakash Schaffter, Executive Deputy Chairman of Janashakthi Insurance PLC. 

Commenting on the company’s performance during the second quarter of the financial year, Janashakthi Life’s Director/ Chief Executive Officer, Ravi Liyanage said, “We have revisited our strategies to respond to the evolving needs in a prudent and far-seeing manner while focusing on our role as a trusted life insurer. We will continue to provide innovative solutions and respond with integrity and transparency to our customer’s needs. These core values of integrity and commitment to growth are what steers us ahead through winning and sustaining the trust of all our stakeholders.”