The Sunday Leader

Janashakthi Pays Highest Returns

Prakash Schaffter, Managing Director Janashakthi Insurance

Janashakthi Insurance PLC has offered the highest dividend yield among local insurance companies, making the stock an attractive investment for stock market investors, officials said.
For the year ended March 31, 2013, the company paid out an annual dividend yield of 9.52% the highest among insurers.
“We always look to maximise returns to our shareholders, who have placed their faith in our company. At the price point, our stock is quite affordable for even small to midsize investors looking to add value to their equity investment portfolios,” Prakash Schaffter, Managing Director Janashakthi Insurance said.
Janashakthi Insurance PLC moved up to the main board of Colombo Stock Exchange in April this year. “Janashakthi continues to reflect a very healthy stated capital structure of LKR 1.4 Bn which is over seven times the required level of capital for its business operation. We have the highest stated share capital of any listed insurance company. Insurance is a long-term business and the stated share capital gives a strong signal of commitment and stability to stakeholders of the sustainability of the business,” Schaffter added.
The share price currently trades at around Rs 12.00 as against insurance peers whose counters are priced several times higher. Strangely, while Janashakthi has stayed below the radar as a hot stock pick it has consistently topped the category in dividend returns in recent years.
The company’s competitive edge is maintained through its extensive 100 plus branch-network, its islandwide network of 273 motor assessors and their own unique to category Full Option Auto Centre, and 24-hour Call Centre.
Janashakthi Insurance PLC posted record profits for the year 2012, vaulting over the LKR 8 billion mark to LKR 8.26 Bn in total net income . Stringent cost control coupled with the company’s strategy of prudent underwriting resulted in record profit after tax of LKR 800 Mn. This reflected an accelerated growth of 62%.
Janashakthi Insurance PLC has served the nation for 18-years, and continues its growth trajectory in Sri Lanka’s insurance sector. Janashakthi has an exceptional track record of financial stability and claim settlement, with LKR 15.8 Bn in assets and over LKR 7.9 billion in annual gross written premiums. Janashakthi has paid over LKR 20 Bn in claims to its policyholders to date from inception.
Janashakthi’s Board has established internal control systems, including a comprehensive risk identification, measurement and mitigation process. The composition of the board is exemplary on many fronts, providing a balance of non-executive independent directors and gender diversity.
The board consists of Chairman, W.T. Ellawala, Deputy Chairman, C.T.A. Schaffter, Prakash Schaffter, L.C.R. de C. Wijetunge, Manjula Mathews, Deshamanya, Dr Nihal Jinasena, Ramesh Schaffter, Eardley Perera and Anushya Coomaraswamy.

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