LKCSE Colombo Stock Exchange Close
  • Current Exchange
    Colombo Stock Exchange LKCSE

Market time

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
26 October, 2015 09:22 AM Source: Financial Times - Sri Lanka
news 1.jpg

Janashakthi Insurance PLC made a payment of Rs. 3.2 billion to AIA Insurance Lanka PLC to seal off its acquisition of AIA General Insurance Lanka Ltd. on 23 October. With the financial aspects of the transaction now complete, Janashakthi will commence amalgamation of AIA General Insurance Lanka Ltd. with Janashakthi General Insurance Ltd.
Janashakthi Insurance PLC has made new appointments to the Board of AIA General Insurance Lanka Ltd. The Board of Directors of AIA General Insurance Lanka Ltd. will now comprise Chairman W.T. Ellawala, Deputy Chairman Husein Esufally, Director Prakash Schaffter, Director Ramesh Schaffter and Director/Chief Executive Officer Jude Fernando.“In line with our long-term growth plans, the acquisition of AIA General Insurance Lanka Limited marks a significant milestone in Janashakthi’s history. The soon to commence amalgamation efforts will allow us to draw on the combined strengths of the two entities as we strive to deliver greater value to our customers, employees and shareholders,” said Prakash Schaffter, Managing Director, Janashakthi Insurance PLC.
“I’d like to welcome the employees of AIA General Insurance Lanka Ltd. to the Janashakthi family. Together, we shall embark on the next phase of our journey towards creating an outstanding organisation that is stronger than before.”
Janashakthi Insurance Chief Executive Officer Jude Fernando said: “We as an organisation take on this new journey with renewed energy. We are confident that the combined business has a lot more to offer to our customers and stakeholders. As we continue to drive operational efficiency through technological advancements, we look forward to delivering the best service along with a greater mix of differentiated insurance solutions.”
Further consolidating Janashakthi’s position as the third largest general insurer in Sri Lanka, the resulting entity will account for an estimated Gross Written Premium (GWP) of Rs. 11 billion with a market share of approximately 17.5%.

- See more at:

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login

Stocks in Focus

Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
Many more

Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2014


Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?