Janashakthi Insurance : ERRATA TO THE FINANCIAL STATEMENT

17th February 2022

Mr. Renuka Wijayawardhane

Chief Operating Officer

Colombo Stock Exchange

#04-01, West Block

World Trade Centre

Echelon Square

Colombo 01.

Dear Sir,

Janashakthi Insurance PLC ("the Company")

Condensed Consolidated Interim Financial Statements as at 31st December 2021

Errata Notice

We write further to the Condensed Consolidated Interim Financial Statements of the Company as at 31st December 2021 which was disclosed to the public via the Colombo Stock Exchange on 11th February 2022 and enclose the revised pages pertaining to the following;

Page 2

The designation of Mr. Prakash Schaffter should be read as 'Deputy Chairman'.

Page 3

A statement added to clarify that 2021 financials do not carry the surplus transfer from Policyholder book to the Shareholder book for 2021, while the 2020 audited financials carry the surplus transfer from the Policyholder book to the Shareholder book.

Page 11

The number of shares and the percentage of the Top 20 list of Shareholders have been amended to reflect the correct shareholding as at 31st December 2021.

Yours faithfully,

For and on behalf of

Janashakthi Insurance PLC

Janashakthi Corporate Services Limited

Secretaries

JANASHAKTHI INSURANCE PLC

STATEMENT OF FINANCIAL POSITION

		Unaudited
As at		31 December 2021
Assets	Note	LKR '000
Financial Investments		21,551,789
Investment Property		1,724,379
Intangible Assets		53,187
Property, Plant and Equipment		261,700
Right of Use Lease Assets	5	173,532
Loans to Life Policyholders & Others		332,860
Reinsurance Receivable		52,051
Premium Receivables		152,413
Other Assets		268,487
Deferred Tax Asset	7	790,486
Cash in Hand and Balance at Bank		404,634
Total Assets		25,765,518
Liabilities and Shareholders' Equity
Equity
Stated Capital		4,853,752
Revenue Reserves		3,518,767
Restricted Regulatory Reserve	8	1,795,829

Audited

31 December 2020

LKR '000

19,374,743

1,984,574

64,074

354,971

224,524

339,072

38,762

102,152

471,927

959,255

282,891

24,196,946

4,853,752

3,417,569

1,795,829

Total Equity	10,168,348	10,067,150

Liabilities

Insurance Liability - Life		13,935,320
Retirement Benefit Obligation		89,379
Reinsurance Creditors		99,683
Lease Creditors	10	211,519
Other Liabilities		1,165,317
Short term non interest bearing liabilities		95,952
Total Liabilities		15,597,170
Total Equity and Liabilities		25,765,518

12,681,780

98,692

45,939

254,652

918,541

130,192

14,129,796

24,196,946

I certify that these Interim Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.

Signed

Thanushka Jayasundera

Chief Financial Officer

The Board of Directors are responsible for these Interim Financial Statements.

Signed for and on behalf of the Board by,

Signed	Signed
Prakash Schaffter	Ravi Liyanage
Deputy Chairman	Chief Executive Officer
Colombo
09 February 2022

JANASHAKTHI INSURANCE PLC

INCOME STATEMENT

		Unaudited
For the Period ended 31 December		2021
	Note	LKR '000
Gross Written Premium	11	5,460,928
Premium Ceded to Reinsurers		(211,961)
		5,248,967
Other Revenue
Fee and Commission Income		102,399
Investment Income		1,927,756
Realised Gains		235,139
Fair Value Gains/ (Losses)		(544,209)
Other Operating Revenue		305,363
Total Other Revenue		2,026,448
Total Net Income		7,275,415
Benefits and Claims
Net Benefits & Claims		(2,134,248)
Increase in Life Insurance Fund		(1,253,538)
Underwriting & Net Acquisition Cost		(1,864,486)
Total Benefits, Claims & Net Acquisition Cost		(5,252,272)
Finance Cost		(34,758)
Other Operating and Administrative Expenses		(1,326,712)
Other Expenses		(1,361,470)
Profit before Taxation		661,673
Income Tax Expense		(168,771)
Profit for the Period		492,902
Profit attributable to:
Equity holders of the Company		492,902
Basic Earning per Share (Rs.)		2.18

Audited

2020

LKR '000

3,819,817

(122,180)

3,697,637

50,646

1,858,910

293,871

214,988

179,636

2,598,051

6,295,688

(1,758,226)

(1,584,947)

(860,858)

(4,204,030)

(38,299)

(1,032,447)

(1,070,746)

1,020,911

(261,586)

759,325

759,325

3.35

**The unaudited financials for 2021 do not include the surplus transfer from Policyholder book to the Shareholder book for the financial year 2021. While the audited financials for 2020 includes the surplus transfer for 2020.

2

JANASHAKTHI INSURANCE PLC

NOTES TO THE FINANCIAL STATEMENTS

1. Stated Capital is represented by 226,526,153 ordinary shares as at 31 December 2021. (2020: 226,526,153)
2. Information On Ordinary Shares

For the Quarter Ended	31st December
2021	2020
Market Price per Ordinary Share (LKR)

Highest Price	32.00
Lowest Price	23.40
Closing Price	30.70
Market Capitalization (LKR)	6,954,352,897
Net Asset Value per Share (LKR)	44.89
Float Adjusted Market capitalization (LKR)	1,387,758,963

32.50

26.10

30.00

6,795,784,590

44.44

1,341,487,878

16 Twenty Largest Shareholders as at 31 December 2021
		Name of Shareholder	No.of Shares		%
(1)		Janashakthi Ltd Account No. 1	56,699,497	25.03%
(2)		National Development Bank PLC/Janashakthi Limited	50,000,000	22.07%
(3)		Seylan Bank PLC/Janashakthi PLC (Collateral)	29,100,000	12.85%
(4)		Hatton National Bank PLC/Janashakthi PLC	24,345,000	10.75%
(5)		First Capital Limited	13,099,471	5.78%
(6)		Pan Asia Banking Corporation PLC/Janashakthi Limited	8,000,000	3.53%
(7)		Hatton National Bank PLC/Suktam Holdings (Pvt) Ltd	7,771,313	3.43%
(8)		Mr. Y.S.H.I. Silva	7,281,572	3.21%
(9)		J.B. Cocoshell (Pvt) Ltd	1,847,796	0.82%
(10)		National Savings Bank	881,521	0.39%
(11)		Mr. C.H. Mendis	740,000	0.33%
(12)		Mr. D.K.A.K. Weerathunga	563,958	0.25%
(13)		MR. M.B. Herath	540,000	0.24%
(14)		Mr. K.A.R. Ranasinghe	530,000	0.23%
(15)		Mrs.. M. Mathews	510,000	0.23%
(16)		Mr. N. Balasingam	492,600	0.22%
(17)		Merchant Bank of Sri Lanka Ltd/C. Sathkumara	456,313	0.20%
(18)		Seylan Bank PLC/Jaliya Abeysiri Wijeratne	399,324	0.18%
(19)		Mr. P. Vijendran / Joint - 1 : Mrs. P. Vijendran	350,000	0.15%
(20)		Estate of Jayatissa Nalin Rodrigo	300,000	0.13%
			203,908,365	90.02%
		Others	22,617,788		9.98%
		Total	226,526,153		100.00%

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