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Janashakthi Insurance PLC recorded profit before tax in excess of LKR 1 Bn as of December 31, 2014, showing healthy growth amidst regulatory change in the insurance sector.
As the company celebrated two decades of existence, Janashakthi posted a Gross Written Premium of LKR 8.9 Bn as of December 31, 2014, compared to LKR 8.7 Bn in the previous year.
The Gross Written Premium of Non-Life Insurance segment of the company was LKR 6.8 Bn compared to LKR 6.5 Bn previous year. This is a 4% year on year growth in the Non-Life Insurance Business. This growth has been achieved mainly due to significant contribution made by the Non Motor Business sector.
Janashakthi performed exceptionally well in the Non motor segment, with the company recording 14.47% growth, particularly impressive considering that overall industry growth was 1.47%. The Motor business in particular performed well in the latter part of the year, growing even in an industry which saw sluggish growth.
Janashakthi’s assets base grew to LKR 20.8 Bn compared to LKR 18.6 Bn, an impressive feat given prevailing industry conditions. Net assets per share rose to LKR 14.34 compared to LKR 12.48 the previous year indicating the sustainable value creation by the company towards its stakeholders.
This growth was reflected in Janashakthi’s share prices. Market price per share showed strong growth at LKR 23.20 compared to LKR 12.70 the previous year, reflecting market confidence in the brand.
