Janashakthi Insurance PLC recorded a 9% overall growth for the financial year 2020, with Gross Written Premiums (GWP) of Rs 3.8 billion.
This praiseworthy growth follows the second year of the insurer’s renewed singular focus on Life Insurance, which was a strategic shift that Janashakthi Life made in the year 2018.
Janashakthi Life’s post-tax profits stood at Rs. 739million for the period ended December 31, 2020, illustrating a growth of 86%. The Company’s investment income recorded a growth of 15% at Rs 1,882. The Company’s net claims and benefits stood at Rs 1,758as at December 31, 2020.
“As anticipated, the year 2020 was an exceptionally challenging period due to the spillover effects of the COVID – 19 pandemic and the economic downturn that ensued. Nevertheless, we effectively navigated the challenges with foresight, innovation and timely adaptation of necessary business practices to end the year on a positive note. Our policy riders covered all life insurance customer claims arising due to COVID-19 in a diligent manner,” commented Prakash Schaffter, Chairman of Janashakthi Insurance PLC.
“During the year, we implemented a number of timely and appropriate measures to ensure the health and wellbeing of our customers and employees alike,” said Ravi Liyanage, Director/ Chief Executive Officer of Janashakthi Insurance PLC.
0 comments: