Janashakthi, fastest growing insurer in 1Q 2025

Chairperson Annika Senanayake	Director/CEO Ravi Liyanage

Janashakthi Life, the fastest growing life insurer in the country, recorded a 49 percent year-on-year increase in gross written premiums for the 1Q 2025, totalling Rs.1,830 million—up from Rs.1,231 million in 1Q 2024. 

The company’s strong topline growth reflects its strategic focus on customer acquisition, market expansion and product innovation.

Regular first year premium grew by a mammoth 86 percent over last year, demonstrating its ability to attract a broader customer base. 

Similarly, the new business premiums also surged by 78 percent, underscoring Janashakthi Life’s growing market share. The company’s total assets rose to Rs.38,849 million as of March 31, 2025, a 3 percent increase from the previous year. The net profit for the quarter stood at Rs.292 million after tax. Janashakthi Life also paid out Rs.782 million in claims and benefits during the quarter, further strengthening its position as a reliable partner for policyholders.

Janashakthi Insurance Director/CEO Ravi Liyanage commented, “We are proud to report another quarter of exceptional topline growth and standing tall in the life insurance industry as the fastest growing life insurer during the period under review. Major drivers of this growth is the enhancement of well-articulated distribution strategy together with the careful selection of product mix to serve emerging consumer needs. Innovation, digitalisation and robust performance management have also been significant areas of focus. 

The company is well poised to deploy its aggressive market acquisition strategy to stay ahead of competition, carving out not only traditional market segments but also the brand would diffuse its presence to a larger audience identified and defined for its immediate future.”  

Janashakthi Insurance Chairperson Annika Senanayake stated, “This outstanding performance signals the strength of our business fundamentals and the success of our long-term growth strategy. We continue to build market leadership of focussed areas such as customer journey, competitive advantage, prudent financial management and strengthening of our human capital in delivering world-class insurance solutions. 

The significant rise in new business premiums highlights our growing relevance in the market and we are confident that the steps we are taking today will translate into sustained growth and value creation in the quarters ahead.”