Janashakthi Life No. 1 with First Year Regular Premium growth of 104%

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

JIPLC Chairman Anil Tittawella

JIPLC CEO Ravi Liyanage

Reinforcing the company’s growth streak and agility, Janashakthi Insurance PLC said yesterday it had 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 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. Moreover, net claims and benefits to policyholders during this period recorded Rs. 1.5 billion. 

“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 Janashakthi Insurance PLC Chairman Anil Tittawella.

“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 Janashakthi Insurance PLC Director/Chief Executive Officer Ravi Liyanage.

“Our sales force with their personal touch and empathy towards our policyholders continued to serve our communities with professionalism while assessing and providing customised investment and protection solutions. The professionalism of the sales force together with this great growth momentum led the company to deliver groundbreaking 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.