Janashakthi Insurance chief to retire

Janashakthi Insurance PLC's Non-Executive Chairman and Director, W. T. Ellawala will announce his retirement at the Annual General Meeting of the company on March 31.

Founder, Janashakthi Insurance PLC, C. T. A. Schaffter said, "I am deeply grateful to Ellawala for accepting my invitation to join the board of directors of Janashakthi at the point of its inception, and even more for remaining with us for over two decades. Ellawala has undoubtedly played an integral role in shaping our company's success and his extraordinary vision and leadership have proved to be instrumental in helping the company persevere and progress over the years."

"His high ideals and code of ethics will always remain with us and continue to inspire us in the years ahead. While extending our heartfelt appreciation to Ellawala, we wish him all the very best," he said.

Ellawala joined Janashakthi as a director at the time of its launch in 1994, playing a vital role as it advanced from its humble beginnings as a small life insurance company. He later took on the role of Non-Executive Chairman in 2005. Ellawala said, "I have had the privilege of being a part of this organisation and witnessing it grow from a small life insurance provider to become one of Sri Lanka's leading insurance organisations. It has, indeed, been an extremely rewarding experience to have contributed to its expansion through a range of initiatives that included the acquisition of two insurance companies, the National Insurance Corporation in 2001, and AIA General Insurance Lanka Limited in October last year."

Managing Director, Janashakthi Insurance, Prakash Schaffter said, "I had the privilege of working closely with Ellawala. The company has benefited immensely from his invaluable experience and insights. Nurturing our entrepreneurial penchant for innovation and growth, Ellawala's business acumen and high corporate values helped establish a strong foundation for the organisation. We are deeply grateful for the direction he provided us. We will no doubt miss his leadership and presence on the Janashakthi Board."