By J. Kurukulasuriya
Ceylon FT: Janashakthi Insurance Company PLC whose Managing Director is the Insurance Industry Veteran Prakash Schaffter, released its quarterly unaudited accounts to 31 March 2014, showing a small (2%) fall in 'total gross written premiums' to Rs 2,202 million over the previous year's corresponding figures.
Sector wise, the Life Insurance premia were 23% and Non Life premia were 77%. In the Non Life insurance sector, the main component was Motor Insurance which consisted of 66%, followed by Fire - 14 %, Miscellaneous - 16% and Marine insurance - 3%.
Profit for the period fell by 28% as compared to the previous year's quarter, to
Rs 155 million. An increase in 'total benefits and claims and acquisition costs', (Rs 1,636 million), partly accounted for the results. Finance cost and Admin expenses, also increased by 12%. The stated capital of the company is Rs 1,496 million, consisting of 363,000,132 ordinary shares. The 'public shareholding' as defined by the CSE, is 31.86%.
Ceylon FT: Janashakthi Insurance Company PLC whose Managing Director is the Insurance Industry Veteran Prakash Schaffter, released its quarterly unaudited accounts to 31 March 2014, showing a small (2%) fall in 'total gross written premiums' to Rs 2,202 million over the previous year's corresponding figures.
Sector wise, the Life Insurance premia were 23% and Non Life premia were 77%. In the Non Life insurance sector, the main component was Motor Insurance which consisted of 66%, followed by Fire - 14 %, Miscellaneous - 16% and Marine insurance - 3%.
Profit for the period fell by 28% as compared to the previous year's quarter, to
Rs 155 million. An increase in 'total benefits and claims and acquisition costs', (Rs 1,636 million), partly accounted for the results. Finance cost and Admin expenses, also increased by 12%. The stated capital of the company is Rs 1,496 million, consisting of 363,000,132 ordinary shares. The 'public shareholding' as defined by the CSE, is 31.86%.
The shares traded between a high of Rs 14.60 (on 25 March 2014), and a low of Rs 12.70 (on 6 January), within the quarter.
The major shareholders of the company are Janashakthi Ltd., with 68%, Bank of Ceylon – 4%, HSBC international nominees Ltd – 3%. Among individuals, Dr T. Senthilverl holds 0.68%.
www.ceylontoday.lk
The major shareholders of the company are Janashakthi Ltd., with 68%, Bank of Ceylon – 4%, HSBC international nominees Ltd – 3%. Among individuals, Dr T. Senthilverl holds 0.68%.
www.ceylontoday.lk
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