---

“I am confident that this segregation will offer greater focus and opportunities for growth, profitability and product differentiation. Our parent brand will continue to i mpart the same values of truth, innovation, authenticity, trust and inclusivity into everything we do,” Janashakthi Insurance Managing Director Prakash Schaffter said.


The parent company will continue to operate the life insurance business.The board and the management of Janashakthi Insurance feels confident that these measures triggered by regulatory needs will help propel the two companies to greater market focus and dominance. They also believe that the financial strength and solvency of the two companies, will give Janashakthi a prominent position in the industry.Schaffter added that the company has embarked on a comprehensive transformational strategy to develop products and processes that would spearhead new growth avenues

.
“General insurance has been the core business in our 20-year journey. We now step up to the opportunities of a new era and stand poised to reap the new opportunities the emerging environment offers,” he said.Janashakthi General Insurance Ltd. will have to list on the Colombo Stock Exchange by January 2016 as mandated by Section 52 of the Act.