Janashakthi Life posts 45% growth in Gross Written Premiums

• Other Operating Revenue surges 111% 

Janashakthi Life announced exceptional financial results for the first-half of 2024. The company achieved record-breaking growth across key performance indicators, with a notable 45 percent increase in Gross Written Premiums (GWP) compared to the period under review in 2023. This significant growth reflects the company’s steady growth and an expanding customer base.
In addition to the impressive GWP growth, Janashakthi Life has experienced a substantial rise in Other Operating Revenue, which has surged 111 percent year-on-year. The company’s market capitalization has also experienced considerable growth, increasing by 43 percent during the first half of 2024 relative to the same period in 2023. These achievements highlights the company’s strategic investments, diversified income streams as well as the continued investor confidence. 

Furthermore, during the first two quarters, Janashakthi Life has paid over Rs. 2.2 billion in claims, fulfilling all customer obligations and expectations, in line with its promise to indemnify policyholders in their most critical times of need. The company has also distributed LKR 3 billion in dividend further showcasing its robust financial health and dedication to rewarding investors and other stakeholders.
“The record growth in premiums, revenue, and market capitalization, alongside our increased claims payments and dividends, is a testament to our commitment to delivering value to our stakeholders,” stated Janashakthi Life Director/CEO Ravi Liyanage. “Janashakthi Life has ambitious plans for the current financial year and we are fully committed in delivering them,” he further added.
Staying true to its corporate purpose of “uplifting lives and empowering dreams”, Janashakthi Life has always strived to deliver greater value to all its stakeholders ethically and transparently. On the customer front, the insurer brings this to life through its ground-breaking insurance solutions and services that cater to their evolving needs at every stage of their lives. Extending this purpose to the society at large, Janashakthi Life aspires to make a greater contribution to social sustainability in society at large. Over a span of 29 years, Janashakthi Insurance PLC has continued to revolutionize the insurance industry and journeyed forward to become a force to be reckoned with. Its island-wide network of 79 branches enable people from all walks of life to access its unique insurance solutions.