Janashakti life; the only insurance company among the 10 fastest growing Sri Lankan brands – Adaderana Biz

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Records 22% year-on-year growth vs. 9% in the life insurance sector

Janashakthi Insurance PLC has stormed Brand Finance’s TOP 10 Brands ranking, recording impressive growth in brand value in 2022 and being listed as one of the ‘Top 10 fastest growing Sri Lankan brands’. fast’ and the only insurance brand to feature in the TOP 10 honor roll with an A+ rating and a Brand Strength Index (BSI) score of 569. Leading insurer has seen exceptional growth 22% year-over-year in brand value in 2022 compared to the total brand value of all life insurance brands in the market which grew only 9%. This increase in brand equity follows the historic achievement of Janashakthi Life reaching two billion consecutive milestones while achieving strong market share growth which increased by one market position from competition in new business in 2021. The insurer also delivered an outstanding performance on all KPIs, exceeding all set targets, with notable regular premium first year (FYP) growth of over 115 %, recording a strong high and result.

Brand Finance is the world’s leading independent brand valuation consultancy. For over 20 years, he has helped businesses and organizations of all types connect their brands to the bottom line. “Janashakthi Insurance is the fastest growing brand in the industry. Growth in financial performance, driven by active involvement in innovative insurance solutions, has enabled the brand to gain value and strength in the Sri Lanka 100 ranking,” said Brand Finance in the 2022 Value Ranking. brand released recently.

Ravi Liyanage, Director/CEO of Janashakthi Insurance PLC, added, “We are very proud that the Janashakthi Life brand ranks in the TOP 10 fastest growing brands in Sri Lanka in 2022. Some of the key pillars that have helped us achieve this achievement include our record total revenue of over Rs. 7.2 billion with a growth of 14% over last year (6.2 billion rupees in 2020) and commendable growth gross written premiums of 45% over the corresponding period under review; active involvement in innovative insurance solutions; and the commitment and technical expertise of Janashakthi Lion Force which made an extraordinary contribution to the profitability of the company during a difficult year. The ability to grow in volatile economic conditions reflects the company’s passion and commitment to serving its customers with the best solutions in the industry.

True to its corporate purpose of improving lives and empowering dreams, Janashakthi Life has always strived to deliver greater value to all of its stakeholders in an ethical and transparent manner. On the client side, the insurer brings this to life through its groundbreaking insurance solutions and services that meet their ever-changing needs at every stage of their lives. Extending this objective to its engagement with its employees, Janashakthi Life has always sought to provide team members with a highly supportive work environment that allows them to grow and achieve their dreams and aspirations.

With its proven track record and culture focused on Janashakthi Lion strength performance, the organization has successfully produced over 100 MDRT winners so far, on par with global standards. In recognition of its commitment to fostering a culture of positive values ​​while empowering its employees, Janashakthi Insurance PLC has been recognized as a Great Place to Work in Sri Lanka for its exceptional and resilient work culture. Over a period of 27 years, Janashakthi Life PLC has continued to revolutionize the insurance industry and has grown to become a force to be reckoned with. Its island network of more than 75 branches allows people from all walks of life to access its unique insurance solutions.

In 2022, the Janashakthi Good Health Global Health Passport was introduced, providing clients with international hospitalization cover, whether for planned hospitalization with prior approval from Janashakthi or emergency hospitalization while traveling abroad. The Good Health Worldwide acts as a global health passport with geographic coverage stretching from Sri Lanka to Asia-Pacific and across the globe, providing the customer with cashless hospitalization across the globe without any hassle.

Janashakthi Insurance PLC offers a diverse portfolio of life insurance and employee benefit plan solutions that cater to the different stages of an individual’s life cycle, from childhood to retirement, including health needs. education, savings and investment, health needs and mortgage protection.

Legend : Ravi Liyanage – Director/Chief Executive Officer, Janashakthi Insurance PLC

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