Janashakthi Life records over Rs.5bn in profits

Janashakthi Life has recorded a Rs.5.7 billion profit before tax (PBT) for the period under review. 

This is the second consecutive year the company has surpassed the Rs.5 billion mark in PBT.

Janashakthi Insurance PLC Director/CEO Ravi Liyanage said, “Our strong financial performance in 2024 is a testament to our strategic focus, operational excellence and steadfast commitment to serving our policyholders. Our exponential growth trajectory was double the size of the industry growth to reach 44 percent in revenue growth, surpassing over Rs.6.6 billion premium income whilst not compromising the value creation to our investors and shareholders, recording over Rs.5.7 billion PBT. 

Looking ahead, the company is well-poised to maintain its momentum as the fastest-growing insurance provider in 2025. The company has already deployed well-focused strategies for market and distribution expansion in keeping with product/market as a matrix for growth. 

Some of the innovative products are being developed for emerging segments of the life insurance market in 2025. Further, plans are already in place to deliver best-in-class service through focused customer lifecycle management. The company is also executing robust digitalisation initiatives to strengthen its position as a pioneer in digital innovation. 

Janashakthi Life’s total assets amount to Rs.38 billion at the close of 2024, reflecting robust growth. This underscores the financial strength and stability of the company, ensuring long-term security and sustainability for its stakeholders. 

Further, a key financial indicator, the capital adequacy ratio of over 277 percent, highlights the company’s prudent financial management and reinforces confidence among all stakeholders.”

Janashakthi Insurance PLC Chairperson Annika Senanayake said, “At Janashakthi Life, our resolute focus is on creating sustainable value for all stakeholders. Our performance in 2024 reflects not only our financial strength but also our deep commitment to supporting our policyholders when it matters most. The significant increase in claims paid denotes our dedication to being a reliable partner in our customers’ lives, providing them with financial security and peace of mind.”