Janashakthi Group strengthens group synergies with strategic share transfer

Janashakthi Group (JXG) this week announced strategic move to enhance Group synergies through the transfer of 25 percent of First Capital Holdings PLC shares to Janashakthi Insurance PLC.

This transfer is aimed at fostering a more cohesive and integrated approach across Janashakthi Group’s key business units, aligning the strategic interests of Janashakthi Insurance PLC with First Capital Holdings PLC and creating a more unified and efficient Group structure. Despite the transfer, Janashakthi Group still holds 83 percent of First Capital shares.  

Ramesh Schaffter, Managing Director and Group CEO of Janashakthi Group, stated, “Consolidating the ownership structure within the Group will not only enhance operational synergies but also position us for sustained growth and success. 

This strategic alignment reinforces our commitment to delivering greater value to stakeholders, marking a pivotal step in creating a more integrated and dynamic financial conglomerate. By leveraging the collective strengths of our key business units, we aim to enhance the overall value proposition for our clients and stakeholders.”
Janashakthi Group (JXG) is a financial conglomerate with a diversified presence spanning the Insurance, Finance, and Investment sectors. Each of the Group’s core businesses stands as a formidable leader in their respective industries. The Janashakthi Group comprises First Capital, Janashakthi Life, Orient Finance, and Janashakthi Foundation. 

First Capital Holdings PLC is a pioneering investment institution in Sri Lanka with a diverse product portfolio that includes Government Securities, Unit Trusts & Asset Management, Corporate Finance & Advisory, Corporate Debt Securities, and Stock Brokering. First Capital embraces a ‘Performance-First’ ethos and envisions improving the lives of all Sri Lankans through financial solutions.

The Group’s distinguished Board of Directors comprises Chandana De Silva (Group Chairman), Prakash Schaffter (Deputy Chairman), Ealderly Perera (Independent Non-Executive Director), Saliya Wickramasuriya (Independent Non-Executive Director), Nathan Sivagananathan (Independent Non-Executive Director), and Manjula Mathews (Non-Independent Non-Executive Director), with Ramesh Schaffter serving as the Managing Director and Group CEO. Together, they steer Janashakthi Group toward continued success and growth in the dynamic financial landscape.