The Janashakthi Story

Built on strong local roots, Janashakthi Insurance PLC began its journey in 1994, and has progressed from humble beginnings as a small Life Insurance company, to become one of the leading Insurers in Sri Lanka.

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Decades of service to the nation has transformed Janashakthi from its humble, local roots, to being a key player in the Sri Lankan Insurance industry. Having brought in thousands of Sri Lankans into the organisation, the Janashakthi family has consistently pursued one, bold ambition of lighting up millions of lives with the warmth and protection of Insurance.

Our commitment to our customers is served by the members of our Janashakthi family who have, for years, been pacesetters in service excellence and developed benefits that deliver a service that goes that extra mile, beyond the norms of Insurance. They are the sole reason behind many of the firsts we have achieved in the industry and in Sri Lanka.

We remain committed to providing our loyal customers with assurance and security as we expand our Life Insurance business across the island. This is why we have consistently pursued our purpose of uplifting lives and empowering dreams of Sri Lankans across all corners of the nation. It is why we have been trendsetters, raising the bar for Sri Lankans’ expectations of their Insurance providers. And it is why our customers continue to define us by our unflagging commitment to them and their loved ones.

In line with our purpose, we now journey forward to become a leader in the Life Insurance industry, rooted in local entrepreneurship but fuelled by a pioneering spirit that continues to believe in the protective light of Insurance.

 


Our Purpose

Throughout our history, Janashakthi has been focused on providing protection, security, and continuity for Sri Lankans and their loved ones in all corners of the island. Over the years, we have grown our business from our humble beginnings as a small, local Life Insurance company, into a progressive and future-ready entity.

Today, repositioned as Janashakthi Life, our business is ready to deliver on a greater calling – to ensure that we uplift the lives and empower the dreams of the millions of Sri Lankans who we reach directly as customers, or touch indirectly by providing the warmth of protection to their families and loved ones, or impact in numerous ways as our employees, partners, and other stakeholders.

Our corporate purpose is a true reflection of the creative vision and pioneering spirit that brought to life the Janashakthi story, and has today become the fuel that drives the entire Janashakthi Life family to success.

Our History

From a small workspace in Muttiah Road was born an Insurance company which would eventually become one of Sri Lanka’s most trusted Insurers. From the seeds that were sewn by the 25 people that were employed at the time, grew a company that heralded industry firsts and won the hearts of many Sri Lankans across the island. Come join us, as we take you on a trip down the Janashakthi memory lane.

  1. 1992

    LIGHTING THE WAY

    Janashakthi Life Insurance Co. Ltd is incorporated in Sri Lanka on 29th October 1992.

     


    1994

    SRI LANKA’S FIRST SPECIALISED LIFE INSURER

    Janashakthi Life begins its operations in Sri Lanka on the 15th of September, 1994.

     


  2. 1995

    SRI LANKA’S FIRST SPECIALISED GENERAL INSURER

    Janashakthi General Insurance is established on 20th September 1995.

     


    1996

    INSURANCE AT YOUR DOORSTEP

    Janashakthi embarks on a rapid regionalisation programme giving it one of the widest branch networks in the industry.

     


    1997

    A PROFITABLE YEAR

    Janashakthi announces their first bonus to policyholders.

     

    A WINNING PARTNERSHIP WITH SPORT

    Janashakthi becomes Principal Sponsor of the the highly prestigious Sri Lanka v India test series, a series in which the national team would beat India in a series for the first time in their cricketing history.

     


    1998

    SAFETY FIRST

    Janashakthi undertakes a major CSR campaign that stresses on the importance of highway safety for pedestrians.

     


  3. 1999

    TWO BECOME ONE

    Operationally, Life and General Divisions merge into a single entity.

     


    2001

    THE FIRST OF MANY FIRSTS

    Janashakthi’s Life Operations Department receives the ISO 9002 International Service Quality Accreditation – the first Insurer in Sri Lanka to receive this certification.

     

    Following this, the Company acquires a controlling interest in National Insurance Corporation Ltd, a landmark achievement for a small, private Insurer. Janashakthi also marks a record year with premium income exceeding Rs. 1 billion.

     


    2002

    A MALDIVIAN FIRST

    Janashakthi launches a branch office in Male, the first private Insurer in Sri Lanka to open a representative office overseas.

     


  4. 2003

    DIVERSE INTERESTS

    The Janashakthi Group diversifies into Banking, Development Banking, Financing, Property Development and Agriculture by investing stakes in strategically opportune companies.

     


    2004

    A DECADE TO THREE BILLION

    Now in its 10th year of operations, Janashakthi bookes Rs. 3.1 billion premium income, and thus becomes the only Insurer in Sri Lanka to surpass the Rs. 3 billion mark within its first decade of operations.

     


    2005

    AFTER THE WAVE

    Janashakthi settles claims worth over Rs. 5 billion in the aftermath of the 2004 tsunami, the highest by any Sri Lankan Insurer.

     


    2006

    INDUSTRY RECOGNITION

    Janashakthi Insurance is adjudged the ‘No.1 Service Brand of the Year’ at the SLIM Brand Excellence Awards 2006, having competed against market leaders in Insurance, leading banks, finance companies and other large conglomerates. Meanwhile, Janashakthi Full Option is adjudged the ‘Most Innovative Service Brand, whilst Janashakthi Insurance also emerges the Best Local Service Brand.

     


  5. 2007

    SLIM PICKINGS

    The only Insurance company to be awarded at the SLIM Brand Excellence Awards in 2007, Janashakthi continues ahead of its competition.

     


    2008

    IPO

    Janashakthi’s IPO is oversubscribed four and a half times.

     


    2009

    INTERNATIONAL RECOGNITION

    The Company is awarded the prestigious ‘Award for Brand Leadership – Service Industry’ and the ‘Award for Social Marketing’ at the 18th World Brand Excellence Awards 2009, conducted by the World Brand Congress.

     


    2010

    BRANDED FOR EXCELLENCE

    Global awards for Brand Excellence in ‘Brand Leadership in Banking & Financial Services’ and ‘Overall Brand Leadership’ by the World Brand Congress continues to underscore Janashakthi’s world class operations.

     


  6. 2011

    CONTINUED EXCELLENCE

    Global awards for Brand Excellence in ‘Brand Leadership in Banking & Financial Services’ and ‘Overall Brand Leadership’ by the World Brand Congress. Winner of the ‘Business Innovation Award’ at the Asia Leadership Awards.

     


    2012

    A PIONEERING SPIRIT

    Founder and Deputy Chairman Mr. C. T. A. Schaffter is awarded the ‘Lifetime Achievement Award’ at the 16th Asia Insurance Industry Awards 2012, conducted by the Asia Insurance Review. The four awards are: ‘Industry Leadership’, ‘Brand Leadership’, ‘Brand Innovation’ and ‘Overall Brand Leadership’ in the Banking & Financial Services category. Meanwhile, Janashakthi is also awarded ‘Best CSR Practice Award’ at the Asia Leadership Awards, and ‘Brand Excellence Award in Banking Financial Services & Insurance’ at the CMO Asia Awards.

     


    2013

    A DIGITAL UPDATE

    Janashakthi introduces ‘Full Option Locator’ app for Smartphones. Designed and developed in-house by the Janashakthi IT team, the app uses customers’ phones’ location-based services to allow the Janashakthi Full Option team to find the vehicle and send assistance.

     

    INTEGRATION

    Later that year, Janashakthi’s IT team introduces an IT platform with the aim of increasing customer convenience. This in-house application integrates the branch network into a single platform that makes for greater interactions between customers and our employees while ensuring that the company had made a significant stride in ensuring a paperless environment.

     

    SAFA AWARDS

    Reliable financial information and high-quality presentation garners the Janashakthi 2011 Annual Report a merit award at the SAFA Awards for Best South Asian Annual Reports.

     


    2014

    STRONG GROWTH

    Janashakthi insurance reaches its highest ever consolidated revenue of Rs 9.9Bn reflecting 20% growth, stemming from attractive returns generated from the Company’s solid investment, allowing the Company to deliver a remarkable 22% return on equity to its shareholders, as well as net asset per share of Rs. 12.48, reflecting a 34% year on year growth. The strong financial performance, coupled with the largest recorded customer base of 700,000 customers, places the company in a stellar position to meet the impending regulatory split.

     

    CONTINUED RECOGNITION AT SAFA

    Janashakthi is placed 1st Runner Up in Insurance Category (South Asia) at the SAFA Best Presented Annual Report Awards contest organized by South Asian Federation of Accountants.

     

    WINNING PEOPLE, WINNING CULTURE

    Janashakthi wins a Silver award at the SLITAD People Development Awards organised by the Sri Lanka Institute of Training & Development.

     

    BRAND EXCELLENCE

    Janashakthi receives global recognition at 4th CMO Asia Awards with the “Award for Brand Excellence in the Banking, Financial Services & Insurance category”.

     

    WORLD BRAND CONGRESS

    Janashakthi Insurance PLC is bestowed with the “Award for Brand Leadership in Banking, Financial Services & Insurance Sector” and the “Sustainable Marketing Excellence Award” at the Global Awards for Brand Excellence organized by the World Brand Congress.

     

    TWENTY YEARS OF BRINGING LIGHT TO SRI LANKANS

    Janashakthi celebrates 20 years in operation on 15th September 2014.

     

    IN THE BUSINESS OF EXCELLENCE

    Janashakthi insurance was bestowed with dual Golds at the “National Business Excellence Awards 2014” organized by the National Chamber of Commerce of Sri Lanka. Janashakthi wins Gold in the ‘Insurance category’ and Gold for ‘Capacity Building’ across all categories at the award ceremony.


  7. 2015

    ADAPTING TO CHANGE

    Janashakthi split its Life and Non-Life Insurance operations in line with regulatory changes and as at 1st January 2015, the Company operates as two separate entities – Janashakthi Insurance PLC (JIPLC), the parent company, managing the Life Insurance business, and Janashakthi General Insurance Limited, a new entity which was created as a wholly-owned subsidiary of JIPLC, to which the Non-Life business was transferred.

     

    ADAPTING TO WIN

    Janashakthi General Insurance Limited acquires a 100% stake in AIA General Insurance Lanka Limited in October 2015. Significantly, Janashakthi Insurance PLC was the first and only local insurer to embark on an acquisition post-split.

     


    2016

    PARTNERING FOR GOOD

    Janashakthi Insurance PLC partneres the Foundation for Civilian Bravery to launch the first Janashakthi National Civilian Bravery Awards in 2016. The awards honour and celebrate selfless acts of bravery committed by Sri Lanka’s unsung heroes.

     


    2017

    A GOLDEN MOMENT

    Janashakthi Insurance PLC celebrates historic moment for the Janashakthi Life brand, winning the first ever Gold Effie awarded to the services industry and the Insurance sector, for our ‘Guiding Light to Life’ campaign at the 2017 Effie Awards.

     


    2018

    DIVESTMENT

    In February 2018, Janashakthi Insurance PLC (JIPLC) enters into an agreement to sell all of the shares held by JIPLC in its wholly owned subsidiary Janashakthi General Insurance Limited (JGIL) to Allianz SE. The transaction is completed on the 26th of February 2018. The overall transaction is valued at LKR 16.4 billion, which is one of the highest values of non-government Foreign Direct Investment that is channelled into the country in recent years. Further, LKR 11.7 billion is returned to shareholders through one of the country’s biggest share repurchases, which is completed on the 26th of March 2018.

     

    BACK TO OUR ROOTS

    With the divestment of its General Insurance business, Janashakthi Insurance PLC returnes to its roots as a standalone Life Insurance company, relaunching its brand as ‘Janashakthi Life’ in June 2018, with a new brand logo and integrated communications campaign to highlight the ‘unwavering strength’ of the business.

     

    DIGITALLY DRIVEN

    In July 2018, Janashakthi Life launches the ground-breaking Janashakthi Life Advisor Virtual Office (AVO), which enables customers and agents to transact digitally, allowing Sales Agents to carry out all business transactions using a hand held device.

     


Our Leadership

Janashakthi Insurance’s leadership at the Board of Directors and Corporate Management levels comprise of individuals who bring highly successful professional track records, typified by a pursuit of excellence that is grounded in a strong ethical base.

Board of Directors

Prakash Schaffter

Executive Chairman

Jude Fernando

Director
Chief Executive Officer

Eardley Perera

Non-Executive Director

Manjula Mathews

Non-Executive Director

Ramesh Schaffter

Executive Director

Nathan Sivagananathan

Non-Executive Director

Avindra Rodrigo

Non-Executive Director

Corporate Management

Hashra Weerawardena

General Manager
Life Operations

Harsha Abeywickrema

General Manager
Life Sales

KV Kuganathan

Deputy General Manager
Information Technology

Manindri Dias Bandaranayake

Deputy General Manager
Marketing

Thanushka Jayasundera

Head of Finance & Planning

Sustainability

At Janashakthi Life, our purpose is to uplift the lives and empower the dreams of the millions of Sri Lankan lives that we reach directly or indirectly, through a service that transcends Insurance.

At Janashakthi, we understand our role as a Corporate Citizen goes beyond the bottom-line. This insight comes from our deep roots to our community which, in turn, is reflected in our enshrining ideals: embedded in Janashakthi’s corporate purpose which outlines a deep commitment to Sri Lanka and its citizens.

It is why our Initiatives have always been designed to make an impact in communities that most need it. Broadly, Janashakthi’s sustainability focus covers the following categories: people, education, and arts. Wherever possible, we try to align our projects to supporting larger global priorities such as the Sustainable Development Goals.

OUR APPROACH TO SUSTAINABILITY

In line with our purpose, we want to ensure that our approach to sustainability is built on the theme of uplifting lives and empowering dreams of our community and stakeholders. We focus on engaging and building strong relationships with the communities that we serve, and creating strategies to uplift the lives of our stakeholders. We believe in monitoring and assessing the quality and environmental impact of Janashakthi operations and services, and are aiming to include our customers and business partners where relevant, and to the extent possible.

Community Investment

Shilpashakthi Scholarship Programme

The Janashakthi Shilpashakthi Year 5 Scholarship Programme is designed to provide inclusive and equitable quality education at a young age to inspire and promote lifelong...

Corporate Giving

Janashakthi Life Outreach – School Name Board Project

Initiated in 2016, the School Name Project has reached hundreds of schools across the island, by providing them with new name boards in the language(s)...

Corporate Giving

Janashakthi National Civilian Bravery Awards

Since 2015, Janashakthi has partnered with the Foundation of Civilian Bravery with the view of positioning the company as the 'Guiding Light of Life' within...

Financial Performance

At Janashakthi Life, we believe in creating value for our customers, shareholders, employees, and partners. Find out more about our financial performance and updates here.

Decade At A Glance

Investor Relations

Find out more about our financial reporting and access our earnings updates by browsing through the section below.

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