Janashakthi posts highest growth in first half

Janashakthi Insurance PLC posted a stellar performance with the highest Profit After Tax (PAT) growth of 78% for the first six months ending June 30, 2013.

PAT was Rs 316 million compared to Rs 178 million in 2012.

This was achieved while honouring Rs 1.9 billion in claims.

Claim management and disbursement is a critical driver of performance in customer expectations and in building brand equity.

Growth in total assets rose 8% from December 2012 to Rs 17.1 billion and the company recorded a consolidated GWP of Rs 4.3 billion, a growth of 11% in Life insurance and 12% in Non Life insurance compared to the past year. Investment and other income grew by 75%.

Janashakthi recorded the highest profit after tax among the peer group of insurance companies that have reported in so far. This is a consistent performance in keeping with the company's performance in the previous year where the company posted the best results for profit after tax at the half year mark.

"We have paid out a high amount of claims - this is indicative of our commitment to customers in their time of need. We are delighted with the performance and the future looks strong," said Managing Director, Janashakthi Insurance, Prakash Schaffter.

"Strong growth in Life and General insurance and the anticipated consistent double digit growth in the Life segment is finally coming into play," he said.

This has boosted sales morale and is impacting on recruitment as Janashakthi now becomes the most favoured employer in the sector," Schaffter said.