Sri Lanka Janashakthi Insurance retains A-/P2 ratings

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

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