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| Wednesday, 23 February 2005 |
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Janashakthi records over Rs. 3.1b annual premium in ten years Janashakthi Insurance Co Ltd. (JICL) yesterday claimed that it has outperformed all industry turnover records established by any single insurer in the country, in the first ten years of operations. The company has recorded an impressive annual growth rate since its inception in 1994, particularly in the general insurance business. The general insurance portfolio grew more than 50% in 2004 in comparison to 2003. "We are well on track being at present the only Sri Lankan insurance company to record over Rs. 3.1 billion annual premium within a brief span of ten years. In fact, this is Rs. 1 billion higher than the next best turnover recorded in the first ten years of operation for any insurer in Sri Lanka," Managing Director/Chief Executive Officer, JICL C.T.A. Schaffter said. Deputy General Manager - Sales and Marketing Ravi Liyanage said the launch of, Janaratha Full Option, motor insurance policy, too has been a success factor contributing towards the impressive 50% growth in general insurance business in 2004 with a phenomenal over 70% growth in the motor insurance category. The company has also performed relatively well in the Life Insurance business in 2004 compared to 2003, recording a 25% growth in the First Year Premium and 16% growth in Gross Written Premium, reaching 39,000 policies. The company has also set up a special division to handle all tsunami claims to expedite the claim settlement process which has resulted in 90% of intimated claims being settled already. The company constantly strives for excellence in providing customer convenience and service and recently launched e-insurance to the industry. |
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