FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post

Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Janashakthi Insurance posts record profits

Janashakthi Insurance posts record profits

2 posters

Go down  Message [Page 1 of 1]

sriranga

sriranga
Co-Admin
Janashakthi Insurance PLC posted record profits for the year 2012, hurdling over the Rs. 8 billion mark to Rs. 8.26 billion in total net income. Stringent cost control coupled with the company’s strategy of prudent underwriting resulted in record profit of after tax of Rs. 800 million. This reflected an accelerated growth of 62 percent that shows the company’s gathering momentum in market dominance, the insurer said in a statement.

"This result is amplified against one of the toughest years for motor vehicles with shrinking imports, depreciated exchange rates and higher interest rates. Despite the increases in vehicle import duty which saw vehicle registrations recede by 40 percent, motor insurance topped Rs. 4 billion growing by 14 percent. Underwriting profits rose to Rs. 2,130 million reflecting an 11 percent growth.

The results are a testament to Janashakthi’s consistent service delivery and tenacity within this highly competitive market, its performance in the motor segment and capitalisation levels deeply reflecting upon its long term stability and strength which are cornerstones to dominance in the insurance market."

"Janashakthi’s performance in 2012 is, more than ever, a reflection of the growing strength of its sales force and its continuous focus on market responsiveness and service excellence. Janashakthi continues to be a leader in its most profitable segments of private cars, motor cycles, three wheelers and dual purpose vehicles in which it continues to record considerable success during the year", Prakash Schaffter, Managing Director, Janashakthi Insurance stated.

Janashakthi has an exceptional track record of financial stability and claim settlement, with Rs. 15.8 billion in assets and over LKR 7.9 billion in annual gross written premiums. Janashakthi has paid over Rs. 20 billion in claims to its policyholders to date from inception.

The company also upped its game-reducing exposure to non-profitable segments such as health in non-motor and migrating to conventional life insurance products despite the low hanging fruit of market growth potential in these segments..

Janashakthi continues to reflect a very healthy stated capital structure of Rs. 1.4 billion which is over seven times the required level of capital for its business operation. "We have the highest stated share capital of any listed insurance company. Insurance is a long-term business and the stated share capital gives a strong signal of commitment and stability to stakeholders of the sustainability of the business", Schaffter added.

The announcement mid last year on an interim dividend placed Janashakthi as No 1 in the category in maintaining the highest dividend yield in recent years, the insurer said.

The Board consists of W.T. Ellawala (Chairman), C.T.A. Schaffter (Deputy Chairman), Prakash Schaffter, L.C.R. de C. Wijetunge, Manjula Mathews, Deshamanya Dr. Nihal Jinasena, Ramesh Schaffter, Eardley Perera and Anushya Coomaraswamy.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=74001

http://sharemarket-srilanka.blogspot.co.uk/

econ

econ
Global Moderator
so what is the dividend ratio? Very Happy

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum