Janashakthi Insurance completes amalgamation with AIA general

Jan 31, 2016 (LBO) Sri Lanka’s Janashakthi Insurance said it has now successfully completed the amalgamation process of Janashakthi General Insurance and AIA General Insurance Lanka.

The company acquired the latter for a sum of 3.2 billion rupees in October 2015.

“The acquisition of AIA General Insurance Lanka Limited marked a significant step in our long term growth strategy. Capitalizing on the operational synergies of the two entities, we have been working diligently towards ensuring a swift yet smooth consolidation to deliver on customer service excellence,” Prakash Schaffter, Managing Director, Janashakthi Insurance said.

“With the completion of the amalgamation, we are realigning the company to boost operational efficiencies and effectively utilize the growth in employee numbers to serve a wider customer base.’

The statement said Janashakthi has fully absorbed the employees of AIA General Insurance and operations of the 40 AIA branch offices have been relocated to the nearest Janashakthi branches, enabling all customers to now have access to the 110 Janashakthi branches located island-wide.