Janashakthi records 93% PAT growth

Recording a Profit after Tax of Rs. 280 mn for 1H 2011, Janashakthi Insurance PLC (JIPLC) became the most profitable insurer from among all quoted insurance companies in Sri Lanka. This is a growth of 93% compared to the corresponding period of 2010.

Managing Director of JICPLC Prakash Schaffter, said, "Despite aggressive competition in Sri Lanka's insurance industry and with such a large number of players, the company recorded the highest profit quantum".

Schaffter attributed this achievement to the Company's strategy of focusing on the bottom line while offering a wide range of insurance products and services with unmatched benefits to policyholders, coupled with exceptional service standards. "This enabled us to retain our existing customers together with timely settlement of claims which amounted to over Rs. 1.4 bn during the first half of 2011", he added.