Janashakthi Life powers ahead with 42% GWP growth to Rs. 2.6 b

Friday, 15 May 2026 00:22 - - {{hitsCtrl.values.hits}}

Chairperson Annika Senanayake (left) and Director/CEO Ravi Liyanage

Janashakthi Life, has commenced the financial year 2026 on a strong footing, delivering robust results across key financial and operational indicators for the quarter ended.

The Company recorded Gross Written Premiums of Rs. 2.6Bn, reflecting a significant 42% growth compared to the corresponding period last year. This performance reinforces sustained market demand, strengthened distribution effectiveness and continued trust in Janashakthi’s evolving insurance value proposition.

At the end of the period under review, the company’s market capitalisation has moved to Rs. 29Bn compared to the corresponding figure of Rs. 17Bn. This is a true reflection of investor confidence, demonstrated by the brand in the backdrop of very significant value creation to its shareholders. Share price moved from Rs. 73.6 in Q1 2025 to Rs. 127.7 in Q1 2026, reflecting 1.72 times market capitalisation to shareholder equity.

The Company’s balance sheet further strengthened, with total assets rising to Rs. 41Bn, signalling a solid financial foundation and expanding capacity to support sustained long-term growth.

New business growth during the quarter recorded a notable 25% increase year-on-year, driven by enhanced customer engagement strategies and a more agile distribution network. At the same time, claims and benefits paid amounted to Rs. 985.8Mn, reflecting a 26% increase compared to the same period last year, reaffirming the Company’s commitment to honouring its obligations to policyholders with speed and reliability, while maintaining actuarial discipline.

Chairperson Annika Senanayake said: “This quarter’s performance reflects a deliberate and structured approach to building a well-positioned insurance business. The growth in premium income of 42% is clear indication of disciplined execution, strengthened governance and a consistent focus on delivering value to policyholders while ensuring financial sustainability.”

Director/CEO Ravi Liyanage said: “The results for Q1 2026 demonstrate the strength of our strategic direction and execution capabilities. We are seeing meaningful traction in new business growth, supported by a sharper customer focus and enhanced distribution productivity. At the same time, we continue to strengthen profitability through prudent risk selection and operational efficiency, ensuring that growth is both sustainable and scalable. There is a significant shift in investor confidence at the end of Q1 2026, reflected by a 70% increase in market capitalisation. Furthermore, the growth trajectory is well above industry levels, outperforming industry averages.”

The performance for the quarter reinforces Janashakthi Insurance PLC’s upward movement anchored on sustainable expansion, financial prudence and long-term stakeholder value creation, while continuing to strengthen its position within Sri Lanka’s evolving insurance landscape.