Sri Lanka Janashakthi Insurance retains A-/P2 ratings

Sri Lanka's Prime Minister Ranil Wickremesinghe arrives with flowers to receive blessings at the Gangaramaya Buddhist Temple, Colombo, Sri Lanka on Wednesday 4 April 2018. On wednesday (4), Wickremesinghe survived a no-confidence motion in the Sri Lankan parliament with a 46 vote majority after a 12-hour debate with 122 MPs voted in his support while 76 MPs voting to remove the prime minister. (Photo by Tharaka Basnayaka/NurPhoto via Getty Images)

Dec 27, 2011 (LBO) – RAM Ratings Lanka has confirmed Janashakthi Insurance’s
long- and short-term claims-paying-ability ratings at A- and P2, with the outlook on the long-term rating remaining stable. “Janashakthi’s ratings are supported by its good competitive position, financial performance in the life segment and capitalisation levels,” a statement said.

“On the other hand, the ratings are tempered by its moderate underwriting performance in the highly competitive general segment.”

The full ratings report follows:

RAM Ratings Lanka reaffirms Janashakthi Insurance’s A-/P2 ratings RAM Ratings Lanka has reaffirmed Janashakthi Insurance PLC’s (Janashakthi or the Company) long- and short-term claims-paying-ability ratings at A- and P2, respectively; the outlook on the long-term rating remains stable. Janashakthi’s ratings are supported by its good competitive position, financial performance in the life segment and capitalisation levels. On the other hand, the ratings are tempered by its moderate underwriting performance in the highly competitive general segment.

Janashakthi is Sri Lanka’s third-largest general insurer, accounting for 11.98% of the industry’s g