Prakash Schaffter, Managing Director of JICPLC said, "Despite aggressive competition in Sri Lanka’s insurance industry and with such a large number of players, we are proud to record the highest profit quantum."
Schaffter attributed this achievement to the company’s strategy of focusing on the bottom line while offering a wide array of insurance products and services with unmatched benefits to policyholders, coupled with exceptional service standards. "This enabled us to retain our existing customers together with timely settlement of claims which amounted to over Rs. 1.4 b during the first half of 2011", he added.
The company showed a consolidated GWP growth of 23%. Janashakthi’s Motor Gross Written Premium (GWP) amounted to Rs. 1.7 b which is an increase of 18% over the 2010 first half of Rs. 1.5 b while the Life GWP amounted to Rs. 869 m which is an increase of 23% over the 2010 first half of Rs. 707 m. The Non Motor GWP amounted to Rs. 736 m which is an increase of 39% over the 2010 first half of Rs. 531 m.
Head of Marketing Paddy Weerasekera said: "During 2011, our primary focus is to extend the benefits of our flagship brands such as Janashakthi Full Option, Janashakthi Life Unlimited, and Janashakthi Awaranaya.
source - www.ft.lk