Janashakthi Life No. 01 in First Year Regular Premium Growth recording 104%

GWP grows at 42% recording a two-fold growth against a growth of 20% of the industry

Reinforcing the Company’s growth streak and agility, Janashakthi Insurance PLC recorded a growth of 104% in First Year Regular Premium with 42% growth in Gross Written Premium as per IASL reported industry figures for the third quarter reaching a total income LKR 5.2 Bn for the period under review, the financial year 2021. The Company posted a profit before tax of LKR 456 Mn for the same period, and an investment income of LKR 1.4 Bn for the period. Moreover, net claims and benefits to policyholders during this period recorded LKR 1.5 Bn.

“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. We will continue to reinforce our robust position as a strong, trusted entity in the insurance industry,” commented Anil Tittawella, Chairman 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. In comparison to the industry, we have recorded a threefold growth in First Year Regular Premiums to record the number one position in business growth with 104%. Gross Written Premium also grew tremendously recording a two-fold growth in comparison to the industry recording 42% against a growth of 20% of the industry. A consistent market sensitive approach towards products and market segments contributed to this growth further establishing our position as a trusted insurer to provide all life insurance needs,” said Ravi Liyanage, Director/ Chief Executive Officer of Janashakthi Insurance PLC.

“Our sales force with their personal touch and empathy towards our policyholders continued to serve our communities with professionalism while assessing and providing customized investment and protection solutions. The professionalism of the sales force together with this great growth momentum led the Company to deliver ground breaking achievements reaching international standards of salesmanship and service excellence. This has resulted in 75 of our sales personnel qualifying for the internationally reputed Million Dollar Round Table by the end of quarter three. Also, consolidating our position in the New Business domain of the Life insurance market, Janashakthi Life has moved up two market positions,” he further added.

A pioneering Life insurer, Janashakthi Life realigned its business focus solely on Life Insurance in 2018 with the strategic aim of pursuing viable growth. Proving the wisdom of this strategic decision the Company has been able to outperform the industry on many fronts amidst the pandemic and tough economic climate. This incredible growth momentum reflects the strong work ethic and efforts to deliver the true value of an essential service ahead of its industry peers irrespective of challenges faced. This achievement reinforces the organization’s professionalism and commitment and is testament to the hard work and commitment of the team to ensure that they continue to honour the trust of their loyal policyholders.

Over a span of 27 years, Janashakthi Life has continued to revolutionize the insurance industry and journeyed forward to become a force to reckon with delivering a service beyond Insurance to all its customers and stakeholders while remaining true to its purpose of uplifting lives and empowering dreams. Janashakthi Life has continued to gain and nurture the confidence of customers across Sri Lanka with ethical and transparent conduct in all business affairs along with exceptional focus on customer service. To facilitate seamless continuation of life policies and enhanced accessibility the company has introduced multiple ways of paying premiums through online platforms and bank transfers.  The online payment portal is geared to facilitate multiple online transactions and has increasingly gaining momentum due to its accessibility and convenience.

Additionally, Janashakthi Life has launched several innovative insurance solutions and pathbreaking products including Life Unlimited which provides lifelong hospitalization, Janashakthi COVID Guard – a world’s first in providing financial protection from COVID-19 amongst other products. Janashakthi Life offers a range of Life Insurance solutions and services that cater to different stages of the life cycle of an individual from childhood to retirement including educational needs, savings and investments, health requirements and mortgage protection.  Thereby ensuring that the policyholders enjoy a wholesome life with solutions that support their goals and lifestyles through every stage of life.