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Janashakthi Insurance Company Limited (JICL), opened their 86th branch in Jaffna recently to cater to the largely untapped market in the Northern peninsula, which holds many prospects for insurance business. The strengthening of peace initiatives in the area has led to a significant growth in the economy, leading to higher purchasing power as well as higher disposable income levels. In this backdrop Jaffna, provides ample opportunities for growth of JICL's life insurance business whilst the growth of small industries have led to better prospects for general insurance business.

This move expands the company's presence in the Northern and Eastern Provinces whilst further strengthening their extensive islandwide branch network including Batticaloa, Vavuniya, Trincomalee and Kalmunai. The entry of Janashakthi is bound to create new service standards in the Jaffna insurance market since it is the first and only insurance company in Sri Lanka to have obtained ISO 9002 accreditation for life operations, a company press release said.

Janashakthi has developed a comprehensive range of life and general insurance products that are considered pioneering products within the industry. Janashakthi's life products such as Shanthi, Geethanjali, Jeewan Vandana, Vishrama savings and pension plan and Suwashakthi provide maximum protection for the lowest premiums. They are tailor-made to suit every need of the people in Jaffna as well as anywhere else in the country. JICL also provides extensive general insurance cover for motor, fire, trade, household, marines, riot and strike, engineering, personal accident, health/hospitalisation and operate a unique hospital cash plan as well. With all these innovative products it has not only won new customers but also ensured that they remain with the company and continue to enjoy benefits.

JICL recently bought the remaining 39% of the National Insurance Corporation for Rs. 287.5 million and with that now they have the full control of NICL. Synergies of these two companies have resulted in this insurance entity gaining market share and thus enabling them to be a strong force at the top.

Janashakthi which recorded a premium income of over one billion rupees during the financial year ended December 31, 2001 has also taken several initiatives. These along with prudent management and good corporate governance have enhanced its image as a socially responsible company whilst delivering greater and consistent value to customers, employees, shareholders and the country at large.

To celebrate the opening of the Janashakthi Jaffna Branch, JICL sponsored and organised a cricketing encounter in Jaffna between the Janashakthi Invitation XI and the Jaffna District Cricket Association Team. Cricketers of our National Cricket Tam including Muttiah Muralidaran, Ruchira Perera and Romesh Kaluwitharane represented the Janashakthi team.

The match was played at the Central College Grounds, Jaffna. About 25,000 spectators were present to witness the 30 over cricket match played in Jaffna for the first time in over two decades. Janashakthi which has been sponsoring many cricketing events nationally as well as internationally since its inception, yet again have proved their long-standing commitment to uplift the game of cricket in Sri Lanka, the release said.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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