Janashakthi Life GWP grows at 42%

Janashakthi Insurance PLC has recorded a growth of 104 per cent in first year regular premium with 42 per cent growth in Gross Written Premium as per IASL reported industry figures for the third quarter 2021, reaching a total income of Rs.5.2 billion for the period under review, the financial year 2021.

The company posted a profit before tax of Rs.456 million for the same period, and an investment income of Rs.1.4 billion for the period, the company said in a media release.

“Once again, we have succeeded in achieving commendable financial success while also honouring our obligations to policyholders and all other stakeholders. We have strongly illustrated our inherent capability to achieve excellence and meet the various requirements and expectations of our stakeholders,” said Anil Tittawella, Chair man of Janashakthi Insurance PLC.

“The year 2021 has been a great year for Janashakthi Life notwithstanding the challenging economic environment and the ongoing pandemic. We witnessed an exponential growth momentum where the company outperformed the industry in key parameters in the life insurance sector,” said Ravi Liyanage, Director/ Chief Executive Officer of Janashakthi Insurance PLC.

A pioneering life insurer, Janashakthi Life realigned its business focus solely on life insurance in 2018 with the strategic aim of pursuing viable growth. The release said the company has been able to outperform the industry on many fronts amidst the pandemic and tough economic climate.