Janashakthi Insurance PLC, a leading Insurance provider in Sri Lanka, announced the appointment of Stuart Chapman as Director/Chief Executive Officer for its Life Business with effect from January, 1, 2017.
In 2015, Janashakthi, along with other Insurance providers, split its composite business segregating the Life and Non-Life sectors into two separate entities. In line with the latest IBSL regulations, all Insurance providers are further required to appoint a separate Principal Officer for each segregated business entity, who must also hold the position of Chief Executive Officer or Managing Director of the company. Aligning itself with these regulations and with the aim of increasing its focus on the Life business, Janashakthi made the strategic decision to appoint a separate Chief Executive Officer for Janashakthi Life.
A consummate professional with extensive expertise in the Life Insurance business, Stuart will focus on Life Sales & Distribution, Life Operations & Training, and Life Complaints Management at Janashakthi, adding greater value to the overall business.
“It is my great pleasure to announce the appointment of Stuart Chapman as Director/ Chief Executive Officer for the Janashakthi Insurance Life business with effect from the 1st of January 2017. As an individual with an exceptional track record and extensive experience across an array of industries, we believe that his appointment will play a crucial role in bringing greater focus to the Life Insurance business and help propel it to the forefront in a challenging yet dynamic industry. We wish him all the very best as we gear ourselves as an organisation with intensified focus and determination to attain our vision of lighting the lamp of Insurance in every home and workplace,” said Prakash Schaffter, Managing Director of Janashakthi Insurance PLC.
A professional with over 36 years of experience, Stuart commenced his career in sales and soon progressed to head local and multinational organizations across diverse industries. His industrial exposure includes Life Insurance, Healthcare, FMCG, Consumer Durables, Banking, Leasing and Telecommunications. His previous appointment was in the capacity of Managing Director of GlaxoSmithKline (GSK) Pharmaceuticals, where he served on its Board as well as on the Board of SmithKline Beecham Pvt. Ltd. He currently also serves as a Non-Executive Independent Director of United Motors PLC and Hemas Pharmaceuticals Pvt. Ltd.
Until recently, Stuart served as the President of the Chartered Institute of Marketing Sri Lanka, of which he is a Founder Member, Fellow of the Chartered Institute of Marketing UK and the Institute of Management UK, and a Member of the Institute of Certified Management Accountants Australia. He holds an MBA from the University of Colombo amongst his many other qualifications.
The Board of Directors of Janashakthi Insurance PLC comprises Husein Esufally, Chairman; Prakash Schaffter, Managing Director; Jude Fernando, Director; Ramesh Schaffter, L. C. R. de C. Wijetunge, Anushya Coomaraswamy, Manjula Mathews, and Eardley Perera.