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Janashakthi celebrates 15th anniversary
with major expansion drive
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Employment to over 1000 youth in
North and East ! |
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Janashakthi Insurance PLC which announced the highest PAT among the top 5 quoted companies celebrates its 15th anniversary today,
Tuesday 15th September 2009, with major expansion in the North and East and providing employment to over 1000 youth there. |
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In line with President Mahinda Rajapake’s “Uthuru Wasanthaya” vision to bring the North and East into mainstream economic activity, Janashakthi last weekend opened two brand new offices in Chavakachcheri and Chunnakam, thus forging a stronger presence in those areas. |
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The two new offices will generate employment to nearly 200 persons and thus total about 1000 in the entire North and East with further expansion. These branches are now fully geared to take Janashakthi’s products and services to the people of the North and East and enable them to experience the identical benefits enjoyed by their fellow countrymen. |
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Managing Director of Janashakthi Insurance PLC Prakash Schaffter said, “We are happy with the prospect of expanding in the North and East to celebrate our 15th anniversary. This is, in fact, part of a long term plan to leverage from our existing branches in the future and venture even further. The benefits of insurance are something which should touch the lives of everyone, irrespective of caste and creed and this is precisely what we are doing”. |
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Janashakthi currently enjoys a reputation as being a fast growing network with over 100 branches islandwide. With existing offices in Batticaloa, Kalmunai, Akkaraipattu, Jaffna, Nelliyadi, Kantalai, Trincomalee, Mannar, Vavuniya, Kilinochchi and more in the pipeline, the Company is committed to further strengthening its presence in the North and East. |
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“We are indeed proud and happy to have been of service to the nation during these past fifteen years. With our strong foundation and commitment, our 360° performance has undoubtedly enabled us to build confidence among the general public and thus consolidate our position as a leading player in the insurance industry”, he added. |
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The company, which was established in 1992 and began operations in 1994, developed and grew both organically as well as through the acquisition of the National Insurance Corporation, and, rapidly became one of the leading players in the insurance industry in a short span of just fifteen years.
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Chairman of Janashakthi Insurance PLC W.T. Ellawala said, “During the past few years Janashakthi saw a refreshing process of change, of transformation across all areas of business, to serve our customers better. Today, we as a socially responsible corporate, continue to pledge and strengthen our commitment and support to the community we live in”. |
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Events for 15th
Anniversary |
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As part of the celebrations to mark this 15th anniversary, Janashakthi held a Mid-Year Awards Ceremony last weekend (11-13 Sept) overseas in the Maldives. Hailed as a first in Sri Lanka’s insurance industry, over 60 members of the staff were flown to Malé to attend the awards ceremony and gala dinner, on what has been described as an all-expenses-paid “gala weekend of reward and recognition”. |
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Other events locally include a special sales staff promotion with a range of gifts, including gold coins, on offer, felicitating staff who have been with the Company for 15 years and a special 15th anniversary lunch with the senior management. In addition are also Special Edition T-shirts and a Town Storming Campaign by Branch Staff in their respective areas. |
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GROWTH |
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With its inherent financial strength and stability, Janashakthi currently enjoys the enviable reputation of having many achievements and having created many industry records in a very short span of time. It was the first and only insurer to acquire a state owned insurance company, and swiftly went on to become Sri Lanka’s 03rd largest General insurer within only a decade of operation. The fastest insurer to reach the Rs. 5 Billion revenue milestone, it was also Sri Lanka’s first private insurer to venture into the South Asian market. Janashakthi has also gone on record as having made the highest pay out in Tsunami claims, in excess of Rs. 5 Billion. |
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PROFITS |
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Consolidating its position as one of the leading insurance companies in Sri Lanka, Janashakthi Insurance PLC very recently recorded a Profit after Tax of LKR 265.6 Mn as against LKR 82.2 Mn of the Prior Year Half year, resulting in a very impressive growth rate of 223%. The Un-audited Interim Statement as at 30 June 2009 of the Company, reflected a Revenue of LKR 2.961 Bn, which is a growth of 11.65% over the Prior Year Value of LKR 2.652 Bn. |
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Janashakthi has the highest stated capital among Public Quoted Insurance Companies, amounting to over LKR. 1.49 Bn, which is over 7.5 times the statutory requirement. The company is also backed by a rapidly accumulated asset base of over LKR 10 Bn, LKR 3.4 Bn in government securities |
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SERVICE |
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Superior service delivery is a significant aspect that Janashakthi has focused on at all times in its 15 years of service to the nation. Its wide range of insurance products and services has been made available in every nook and corner of the country, coupled with the extension of its branch network. Janashakthi has also invested in hi-tech software for call centre operations and developed a superior response time for inquiries. Being the revolutionary trendsetter in the industry, it also expanded its service excellence through Internet-based services where many projects were initiated to enhance customer satisfaction. |
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CSR |
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Janashakthi exercises its social responsibilities as a corporate entity by becoming involved in several social projects. Among them was a program for the safety of people at pedestrian crossings and other social responsibility projects such as Tsunami aid programs, 24 hour free vehicle breakdown service to commuting public at major national events, street name boards, signage at historical locations, medical camps in rural areas, sports sponsorship including sports such as Cricket, Athletics, Hockey, Sailing, Golf, Rowing, Squash etc. |
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FUTURE |
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Good corporate governance has established the image of the company as a socially responsible entity, delivering greater and consistent value to customers, employees, shareholders and the country at large during the fifteen years of its service to the nation. |
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“As we embark on our 16th years of operations today, our key focus will be to extend the wide range of benefits of our flagship brands such as Janashakthi Full Option, Janashakthi Life Unlimited, Janashakthi Awaranaya to the Sri Lankan public. In the pipeline are also a number of innovative products to satisfy current economic and consumer requirements. Looking back at an excellent track record, we have even greater determination to continue forging ahead into the future in top slot”, Schaffter concluded. |
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