Sri Lanka Janashakthi Insurance 2009 net up 46.3-pct

Mar 01, 2010 (LBO) – Sri Lanka’s Janashakthi Insurance’s net profits rose 46.3 percent to 657 million rupees in 2009, helped by stronger underwriting results while investment income was flat, the firm’s annual accounts showed. Revenues rose 7.7 percent to 5.98 billion rupees. Gross written premium rose 6.6 percent to 5.70 billion rupees and net premium after re-insurance was up 8.57 percent to 5.11 billion rupees.

Underwriting results were up 19.5 percent to 1.14 billion rupees.

Investment and other incomes were up 2.47 percent to 1.01 billion rupees. The firm had gross assets of 10.7 billon rupees and net assets of 2.29 billion rupees. The firm is reporting earnings per share of 1.81 rupees.