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Janashakthi Insurance Company Ltd., (JICL) has recorded a premium income of over one billion rupees in the financial year ending on December 31, 2001.

The company has been maintaining a good annual growth rate since its inception in 1994.

JICL Managing Director and CEO Chandra Schaffter said that the milestone was reached in 2001 despite the year, by far, being the most difficult for the Sri Lankan economy.

The road towards the Rs. 1 billion premium income mark had been well planned and researched. "Before we started Janashakthi, we did extensive research of the existing solutions available for people interested in insurance. We found out what makes customers happy and what drove them off from an insurance company. As we launched Janashakthi and progressed year on year since 1994, we have met diverse and discerning needs of the insurance market and provided them with innovative solutions. We have indeed reaped the benefits with a premium income of Rs. 1 billion," Mr. Schaffter said.

JICL acquired a 51 per cent controlling stake of the National Insurance Corporation Ltd., for Rs. 450 million in mid 2001.

In 2001, Janashakthi's Life Operations Division became the first in the Insurance industry to achieve the ISO 9002 quality management systems certificate from Bureau Veritas Quality International of UK. To be awarded the ISO certificate, the company was assessed on its quality management in system in relation to Life, Disability, Pension and related Medical Insurance Services.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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