|
|
 |
| Sunday, 31 March 2002 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Janashakthi eyes South Asian market Janashakthi Insurance Company Limited (JICL) has opened an office in the Maldives with the intention of catering to the largely untapped market in the islands. The company's representative office was opened in Male recently and will be managed by a Sri Lankan, Janashakthi said in a news release. Insurance is still a relatively new concept in Maldives and JICL hopes to make the best out of this situation. Initial market research the company had conducted in the islands had given an indication of the tremendous opportunities available there. One of the largest resort operators in the country had signed an agreement with the insurer on the day the office had opened. Janashakthi hopes to have a wider presence in South Asia and the Male office is the first step in this direction. Opening an office in another South Asian country is among the company's plans for this year, the release said. Janashakthi started operations in 1994. "The company recorded a premium income of over one billion rupees during the financial year ended December 31, 2001. It was also successful in achieving a 44 per cent growth in 'first year premia' and has continuously maintained high annual growth rates," JICL's Managing Director Chandra Schaffter said. Janashakthi's Life Operations Division also became the first in the industry to achieve ISO 9002 quality management systems certificate last year when it was awarded this certificate by Bureau Veritas Quality International of UK. In mid-2001, JICL acquired a 51 per cent controlling stake in National Insurance Corporation Ltd. (NICL). The company has introduced several positive changes to the operations of NICL and looks forward to reaping the benefits that these changes would bring in the years to come. |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
