Category: Insurance
Jude Fernando to head Janashakthi
May 01, 2018 (LBO) – Sri Lanka’s Janashakthi Insurance PLC announced the appointment of Jude Fernando as the company’s Director / Chief Executive Officer with effect from 1st May 2018. Having divested its General Insurance business earlier this year, Janashakthi has focused its efforts on the country’s underpenetrated Life Insurance segment. buy aciphex online https://paigehathaway.com/wp-includes/sitemaps/providers/php/aciphex.html […]
‘s Insurance A+(lka); outlook stable
Fitch Ratings has assigned Sri Lanka-based People’s Insurance PLC a National Insurer Financial Strength (IFS) Rating and National Long-Term Rating of ‘A+(lka)’. The Outlook is Stable. KEY RATING DRIVERS The ratings reflect the non-life insurer’s strong domestic business profile, which is supported by its association with the People’s Bank (Sri Lanka) (PB, AA+(lka)/Stable) group, strong […]
Janashakthi Delivers Sustained Double Digit Growth through FY 2017
(PRESS RELEASE) – Registering steady double digit growth in premiums through FY 2017, Janashakthi Insurance PLC (Janashakthi) posted a consolidated Gross Written Premium (GWP) of Rs. 15.115 billion for the twelve months ended 31st December 2017, a commendable year on year (YoY) growth of 11%. The Non-Life or General Insurance business grew by 14% to end […]
Allianz completes acquisition of Janashakthi General Insurance
Feb 26, 2018 (LBO) – Allianz announced the company has completed its acquisition of Janashakthi General Insurance Limited, after receiving all the necessary regulatory approvals, Monday. This transaction brings together two highly complementary businesses for enhanced scale, competitiveness and service capabilities, while positioning Allianz as one of Sri Lanka’s largest general insurers and significantly accelerating […]
Ceylinco Life’s net profit surges 95-pct to Rs.6Bn
(PRESS RELEASE) – Ceylinco Life has posted net profit of Rs 6 billion for the year ending 31st December 2017 while reaffirming its market leadership in Sri Lanka’s life insurance industry for the 14th successive year, with premium income of Rs 15.7 billion. The company posted profit before tax of Rs 6.3 billion reflecting a remarkable70 […]
Insurance Industry records 15.5-pct growth in 3Q of 2017
Feb 16, 2018 (LBO) – Sri Lanka’s insurance industry was able to report a growth of 15.53 percent (3Q, 2016: 16.97 percent ) in terms of overall Gross Written Premium (GWP), at the end of third quarter of 2017, recording an increase of 15,862 million rupees when compared to the same period in 2016. The […]
Germany’s Allianz SE to buy Janashakthi General Insurance for Rs16.4bn
Feb 02, 2018 (LBO) – Janashakthi Insurance is selling its general insurance business to Allianz SE in Germany for 16.4 billion rupees subject to adjustments, the company said in a stock exchange filing. Janashakthi Insurance said the transaction is subject to several conditions precedent which have to be satisfied by the parties, including addressing any […]
Ceylinco Life’s 9-month PBT up 53-pct to Rs. 2.5Bn
Dec 05, 2017 (LBO) – Ceylinco Life has reported exceptionally strong profit growth for the nine months ending 30th September 2017, with pre-tax profit up 53 per cent to Rs 2.5 billion and net profit growing 47 per cent to Rs 2 billion. Sri Lanka’s life insurance leader has recorded net income of Rs 18.7 billion […]
Sri Lanka Insurance Industry records growth down to 13.87-pct in H1 2017
Nov 22, 2017 (LBO) – Sri Lanka’s insurance industry growth has dipped together with profits in the first half of this 2017 as against a year earlier, data shows. The Insurance Regulatory Commission of Sri Lanka said Tuesday the insurance industry has recorded a growth of 13.87 percent, in terms of Gross Written Premium (GWP), […]
Allianz Lanka report PBT of Rs.68Mn
(PRESS RELEASE) – Allianz Insurance Lanka, the general insurance company, recorded Gross Written Premium (GWP) of Rs.3.92 billion during the period under review, a YoY growth of 30% over GWP of Rs.3.02 billion reported during the same period last year. This helped the business registerpre-tax profits (PBT) of Rs.126.9 million, a marked increase over the […]
Janashakthi Insurance records growth of 12.4-pct upto Sept
Nov 15, 2017 (LBO) – Janashakthi Insurance PLC (Janashakthi) reported a consolidated Gross Written Premium (GWP) of 11.047 billion rupees for the nine months ended 30th September 2017, the company said in a statement. This is a growth of 12.4 percent over the same period last year. Posting a GWP of 8.9 billion rupees, the […]
Mastercard arms issuers with tool to combat account related fraud from data breaches
Oct 02, 2017 (LBO) – Mastercard announced the launch of Early Detection System, a new service that helps reduce fraud-related costs while improving the consumer experience. This new service provides issuers with a unique advanced alert for cards and accounts at a heightened risk of fraudulent use based on their exposure in security incidents or […]