Janashakthi Life records highest ever PBT of Rs.5.2bn

•  Posts 186% growth from last financial year

Janashakthi Life recorded a profit before tax of Rs.5.2 billion, along with a growth of 201 percent in profit after tax compared to 2022. 
This achievement is the highest in the entire history of Janashakthi Life. It underscores the company’s robust financial health and strategic proficiency in navigating market challenges, the entity said in a statement.
The key financial indicators, such as a capital adequacy ratio of 272 percent, a liquidity ratio of 3.9 times, an ROE of 27 percent, earnings per share of Rs.18.25 and Rs.3.4 billion in claim settlements, solidify the prudent financial management from the perspective of all stakeholders.
“One of the key factors that contributed to Janashakthi Life’s success during the year under consideration has been our proactive approach to managing market risks, particularly in anticipating and navigating interest rate fluctuations. We accurately anticipated the dynamic behaviour of yield curve movements, allowing it to strategise its balance sheet accordingly. These strategic decisions have positively impacted the achievement of a historic highest profit before tax of Rs.5.2 billion,” commented Janashakthi Life Director/CEO Ravi Liyanage.
He further stated, “Despite market challenges, our focus on prudent investments and timely actions taken to mitigate risks in the business has positioned us to achieve continued success and significant growth in all our key business performance indicators.”

Janashakthi Life Deputy Chairman Prakash Schaffter added, “The year under review stands out as one of our most successful. Strong financial discipline and swift decision-making in the investment front have paved the way for substantial and stable returns.”
“With this launch pad in the forthcoming year and beyond, Janashakthi Insurance is strategically poised to leverage anticipated economic stability. We will align our focus with key objectives to enhance our product offerings and strengthen our position in the market. We are committed to providing our customers with improved benefits and an elevated level of service, aiming to solidify our standing as the preferred choice for insurance, fostering a relationship built on trust and value,” he further added.