By Sanath Nanayakkare
"Janashakthi Insurance has reached a milestone by achieving Rs. 1 billion profit after tax. This is a significant first time achievement by the company. At the same time, we have played a committed role as a useful corporate member for society at large," Janashakthi Insurance Managing Director Prakash Schaffter said while analyzing the company’s financial results for 2013 recently.
"Janashakthi Insurance has reached a milestone by achieving Rs. 1 billion profit after tax. This is a significant first time achievement by the company. At the same time, we have played a committed role as a useful corporate member for society at large," Janashakthi Insurance Managing Director Prakash Schaffter said while analyzing the company’s financial results for 2013 recently.
This achievement, according to financial data, reflects a 20% growth stemming from attractive returns generated by Janashakthi’s solid investment.
Building on this strong performance, Janashakthi Insurance has been able to deliver 22% Return on Equity to its shareholders as well as a net asset per share of Rs.12.48, reflecting a 34% year on year growth.
Building on this strong performance, Janashakthi Insurance has been able to deliver 22% Return on Equity to its shareholders as well as a net asset per share of Rs.12.48, reflecting a 34% year on year growth.
‘This strong growth with highest Profit After Tax of Rs.1 billion and the largest recorded customer base of 700, 000, have placed the company in a stellar position to meet the impending regulatory split in respect of life and general policies by 2015, he said.
The solvency margin of Janashakthi’s Life Insurance increased 440% of the required margin level and had increased to 710% by the end of 2013. Total assets of the company reached Rs. 18.65 billion in 2013 from that of Rs. 15.64 billion in 2012.
Janashakthi Deputy Chairman C.T.A Schaffter speaking at the event said," During the period of terrorism, policies issued by us covered victims of terrorism with no extra cost added to premiums. And when the tsunami struck, a great tragedy in the country, we paid insurance compensations to a great number of customers without adhering to all the stipulations written in the policies as it demanded so much of humanitarian concern. Our contribution to the development of rural athletes, and sportsmen and women in general has been enormous. Apart from that, we have contributed to the Lanka Jalani hydro-project, graduate internships and job creation for a wide range of young people.
In terms of innovation, Janashakthi remains a pioneer, launching a new worldwide travel insurance scheme which includes access to a 24-hour global hotline. The company has also partnered with Dialog eZ Cash, allowing customers to purchase insurance policies via their mobile phones.
Janashakthi supports almost 3,500 employees and agents with livelihoods and spends over Rs. 30 million a year on training and human capital development.
www.island.lk
The solvency margin of Janashakthi’s Life Insurance increased 440% of the required margin level and had increased to 710% by the end of 2013. Total assets of the company reached Rs. 18.65 billion in 2013 from that of Rs. 15.64 billion in 2012.
Janashakthi Deputy Chairman C.T.A Schaffter speaking at the event said," During the period of terrorism, policies issued by us covered victims of terrorism with no extra cost added to premiums. And when the tsunami struck, a great tragedy in the country, we paid insurance compensations to a great number of customers without adhering to all the stipulations written in the policies as it demanded so much of humanitarian concern. Our contribution to the development of rural athletes, and sportsmen and women in general has been enormous. Apart from that, we have contributed to the Lanka Jalani hydro-project, graduate internships and job creation for a wide range of young people.
In terms of innovation, Janashakthi remains a pioneer, launching a new worldwide travel insurance scheme which includes access to a 24-hour global hotline. The company has also partnered with Dialog eZ Cash, allowing customers to purchase insurance policies via their mobile phones.
Janashakthi supports almost 3,500 employees and agents with livelihoods and spends over Rs. 30 million a year on training and human capital development.
www.island.lk
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