Janashakthi Insurance PLC has stormed the TOP 10 brand rankings by Brand Finance, recording impressive brand value growth in 2022 and being listed as one of the ‘TOP 10 Fastest Growing Sri Lankan Brands’ and the only insurance brand to be listed among the TOP 10 honour roll with a rating of A+ and a Brand Strength Index (BSI) score of 569.
The leading insurer has delivered an outstanding 22% year-on-year growth in brand value during 2022 as compared to the total brand value of all Life insurance brands in the market which grew by merely nine per cent.
This upsurge in brand value follows Janashakthi Life’s historic achievement of crossing two consecutive billion milestones while also achieving strong market share growth which moved up by one market position against competition in new business during 2021.
The insurer also delivered an outstanding performance across all KPIs, surpassing all set targets, with a notable Regular Premium First Year Premiums (FYP) growth of over 115%, recording a sound top and a bottom line.
Director/CEO of Janashakthi Insurance PLC, Ravi Liyanage said, “It gives us deep pride to have the Janashakthi Life brand ranked amongst the TOP 10 of Sri Lanka’s fastest-growing brands for 2022. Some of the key pillars that helped us reach this achievement include our record-breaking total income of over Rs. 7.2 Billion with a growth of 14% over the last year (Rs. 6.2Bn in 2020) and a commendable Gross Written Premium growth of 45% over the corresponding period under review; active involvement in innovative insurance solutions; and the commitment and technical expertise of Janashakthi Lion Force who have made an extraordinary contribution to the Company’s bottom line profitability amidst a challenging year.
The ability to grow amidst the volatile economic conditions reflects the passion and commitment of the Company in serving its customers with industry-best solutions.”
Staying true to its corporate purpose of uplifting lives and empowering dreams, Janashakthi Life has always strived to deliver greater value to all its stakeholders in an ethical and transparent manner. On the customer front, the insurer brings this to life through its path breaking insurance solutions and services that cater to their evolving needs at every stage of their lives. Extending this purpose to its engagement with its employees, Janashakthi Life has always sought to offer team members a highly supportive work environment that empowers them to grow and realise their dreams and aspirations.