Janashakthi Insurance PLC, in its milestone 25th year of operation, has recorded a growth of 30 per cent in first-year premiums for the financial year of 2019, with Gross Written Premiums (GWP) of Rs. 3.5 billion.
In a media release, the company said its post-tax profits stood at Rs. 398 million for the period ending December 2019.
Investment income was at Rs.1,643 million at the end of the period under review, recording a growth of 8 per cent year-on- year (yoy). Janashakthi Life’s Net Claims and Benefits grew by 18 per cent yoy to Rs. 1,924 million.
“Steered mainly by innovation and our customer driven approach, the company embarked on a steady path of growth in 2019. However, 2020 will be an exceptionally challenging year for the economy due to the unprecedented impact of the COVID-19 pandemic. The safety and well-being of our community is our priority and it is crucial that we comply with the government regulations and take necessary precautionary measures as advised, to prevent further spread of the virus,” said Prakash Schaffter, Chairman of Janashakthi Insurance PLC.
“Health and safety of our employees, customers, and community are of paramount importance especially with this unforeseen global crisis of COVID-19 impacting us all. Further, we have extended our policy riders to cover all our life customers on claims arising due to COVID-19 in Sri Lanka,” noted Jude Fernando, Director/CEO of Janashakthi Insurance PLC.
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