Janashakthi fastest growing insurer in Q1 2025

Thursday, 29 May 2025 05:10 - - {{hitsCtrl.values.hits}}

Chairperson Annika Senanayake

Director/CEO Ravi Liyanage

Janashakthi Life, the fastest growing life insurer in the country recorded 49% year-on-year increase in Gross Written Premiums (GWP) for the first quarter of 2025, totalling Rs. 1,830 million — up from Rs. 1,231 million in Q1 2024. The company’s strong top-line growth reflects its strategic focus on customer acquisition, market expansion, and product innovation.

Regular First Year Premium (FYP) grew by a mammoth 86% over last year demonstrating its ability to attract a broader customer base.

Similarly, the New Business Premiums also surged by 78%, underscoring Janashakthi Life’s growing market share. The company’s total assets rose to Rs. 38,849 million as of 31 March, 2025, a 3% increase from the previous year. The net profit for the quarter stood at Rs. 292 million after tax. Janashakthi Life also paid out Rs. 782 million in claims and benefits during the quarter, further strengthening its position as a reliable partner for policyholders.

Janashakthi Insurance PLC Director/CEO Ravi Liyanage commented, “We are proud to report another quarter of exceptional topline growth and standing tall in the life insurance industry as the fastest growing life insurer during the period under review. Major drivers of this growth are the enhancement of well-articulated distribution strategy together with the careful selection of product mix to serve emerging consumer needs. Innovation, digitalisation and robust performance management have also been significant areas of focus. Company is well poised to deploy its aggressive market acquisition strategy to stay ahead of competition carving out not only traditional market segments but also brand would diffuse its presence to a larger audience identified and defined for its immediate future.

“Our team will be strengthened and enabled with very focused execution plans to enable above industry deliverables in the areas of actual delivery and the construct of brand health.

“While we have made bold investments this quarter to support future scalability and customer value delivery, we remain highly focused on maintaining profitable growth. Janashakthi Life is a future-ready business, from the perspective of people, processors, skills and competencies to be the best in it’s marketspace,” Liyanage emphasised.

Janashakthi Insurance PLC Chairperson Annika Senanayake stated, “This outstanding performance signals the strength of our business fundamentals and the success of our long-term growth strategy. We continue to build market leadership of focussed areas such as customer journey, competitive advantage, prudent financial management and strengthening of our human capital in delivering world-class insurance solutions. The significant rise in New Business Premiums highlights our growing relevance in the market, and we are confident that the steps we are taking today will translate into sustained growth and value creation in the quarters ahead.”

Janashakthi Life remains committed to expanding its market presence, investing in innovation, and delivering customer-centric insurance solutions that align with its mission to empower lives and secure futures.

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