Janashakthi re-assures policyholders and all stakeholders
Janashakthi Insurance PLC, announced that it is currently under a
sudden and unexpected suspension of its Registration by the Insurance
Board of Sri Lanka (IBSL).
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Prakash Schaffter |
Managing Director JI PLC Prakash Schaffter said that as a public
quoted company, Janashakthi was totally transparent in its operations
and has always fully complied with the regulations of the Colombo Stock
Exchange and the IBSL.
"On May 12 we received an unforeseen directive from the IBSL stating
that certain assets we have used to compute solvency margin since year
2006 were not being accepted as admissible assets.
As a result the JI PLC licence to operate has been temporarily
suspended. At this point in time we have appealed to the IBSL to revoke
this sudden decision and are confident that it will respond positively
to our request", he said.
Schaffter added that during this current period of suspension,
Janashakthi Insurance continues to honour all claims that arise.
He reiterated that, as at date the Company has met all due
liabilities, obligations, taxes, direct and indirect and claim payments
in a very timely manner and will continue to do so.
He also reassures existing policyholders that they will served with
the same level of service that Janashakthi PLC has been providing in the
past. |
