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JINS.N0000 ( Janashakthi Insurance PLC)

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JINS.N0000 ( Janashakthi Insurance PLC) Empty JINS.N0000 ( Janashakthi Insurance PLC)

Post by yellow knife on Tue Aug 25, 2015 4:50 pm

Banks,Finance and Insurance companies are highly regulated and JINS license was suspended in 2009 for solvency test.

Relevant notice

"
[*]INSURANCE BOARD OF SRI LANKA (IBSL)   
27 May 2009
Insurance Board of Sri Lanka informed the following to the CSE, "Insurance Board of Sri Lanka has removed the suspension of registration imposed on Janashakthi Insurance PLC in respect of Long Term Insurance Business and General Insurance Business with effect from 2 p.m. today(27th May 2009)after Janashakthi Insurance PLC having shown sufficient cause to the IBSL".


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Post by yellow knife on Tue Aug 25, 2015 4:54 pm

When evaluating Banks,Finance and Insurance which are financial intermediaries we have to keep updated with regulatory directions.

IBSL ( Insurance Board of Sri Lanka) has directed the Insurance companies to divide the Life and Non-Life into two different companies with a deadline of 1st Jan 2015. JINS achieved this target ahead of time.

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Post by yellow knife on Tue Aug 25, 2015 4:57 pm

Above bifurcation process has resulted JINS to create a separate company called Janashakthi General Insurance LTD, which is a fully owned  subsidiary of JINS. Thus JINS will be purely a life insurance company and will be the holding company of Non-Life subsidiary.

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Post by yellow knife on Tue Aug 25, 2015 4:59 pm

Life Fund of Janashakthi grew by 12.5% to reach 7.3 Billion.It enable JINS to be financially stable and enhanced capacity to meet claims.

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Post by yellow knife on Tue Aug 25, 2015 5:01 pm

Life Insurance penetration levels aer low in Sri Lanka  and stands at 0.48% of GDP vis av vis the regional average of 1.82%. There are no reasons to believe that life insurance penetration rate will increase in near future.

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Post by yellow knife on Tue Aug 25, 2015 5:03 pm

In this backdrop JINS was slowly and steadily increasing the income.

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Post by yellow knife on Tue Aug 25, 2015 5:03 pm

EPS was rather stable

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Post by yellow knife on Tue Aug 25, 2015 5:06 pm

JINS is a December company and there are two occasions where dividend of Rs 2.00 paid

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Post by yellow knife on Tue Aug 25, 2015 5:07 pm

PE ratio of the company is often at an attractive level.

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Post by yellow knife on Tue Aug 25, 2015 5:13 pm

Regulatory enviornment of Insurance field should be continoulsy understood as often directions are changing.

Current Solvency regime of Sri Lanka initiated in 2009 ( which made JINS to see license getting suspended ) will be replaced by Risk Based Capital (RBC) in 2016.

Insurance companies have to  keep a good amount of  their investments in government securities thus the low interest rates which prevailed since the 2nd quarter of 2014 adversely impacted the interest income of the insurance companies.

The minimum capital requirement for each line of business- life and non-life has been increased to LKR 500 Mn (from 100Mn) and the insurance companies are expected to list in the CSE by 2016.

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Post by yellow knife on Tue Aug 25, 2015 5:18 pm

Many Finance Companies got listed in CSE either as IPO issue or as share introduction. Same way we would be able to see many insurance companies getting listed in CSE by 2016.. It will add more transparency to the industry.

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Post by yellow knife on Tue Aug 25, 2015 5:22 pm

The transformative restructure of JIPLC's Life Insuracne business, which was implemented during the year, with a focus on converting the sales team to a more performance driven and cost optimisng Agency model has begun to give rewards.

Thus the number of staff of JINS has dropped drastically. I compared that with the staff increase of another leading financial intermediary People's Leasing & Finance PLC

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Post by yellow knife on Tue Aug 25, 2015 5:23 pm

As per above chart JINS was struggling with high staff and now controlling the cost effectively while PLC is aggressively growing.

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Post by yellow knife on Tue Aug 25, 2015 5:25 pm

No of Branches of JINS and PLC are compared below and JINS is remaining less aggressive in growth in that perspective as well.

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Post by yellow knife on Tue Aug 25, 2015 5:50 pm

JINS has announced a rights issue at 18.50 and one new share for existing two for the purpose of further expansion of business..

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Post by First Guy on Wed Aug 26, 2015 7:06 am

JINS has one of the best dividend yields
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Post by Market lover on Wed Aug 26, 2015 10:00 am

Tks YK Smile Appreciate your effort.

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Post by Backstage on Wed Aug 26, 2015 11:11 am

Does Eusually entering the Janashakthi board have any possible future significance ? Suspect
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Post by GroundedKestrel on Wed Aug 26, 2015 11:28 am

Everything about the company is good except for the fact that i distrust the Schaffters. Shrewd bunch they are.
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Post by yellow knife on Wed Aug 26, 2015 11:57 am

Hussein Essufaly entering to JINS while being the head of Hemas will be good for JINS to get a different mix ..

JINS is predominantly a family company and Shafters being a family may have similarities with other family driven companies.

My personal view is family companies are more long term oriented in operations and believe in a very steady growth than faster runs..

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Post by Backstage on Wed Aug 26, 2015 12:14 pm

I have earned well capital gains as well as dividends from Schafter companies in the last three years. JINS, CFVF, CSEC and KDL have given handsome returns to minority shareholders, so I am puzzled as to why they are distrusted. scratch
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Post by GroundedKestrel on Wed Aug 26, 2015 12:21 pm

Really? i have a personal experience in a business dealing with one of them. Then again, it just might be my take on things. Hence why i specified that it is I who distrusts.

I personally think that CFVF and CSEC have done far more harm than good to minority investors to be honest. Their dividend policy is also not that great either.
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Post by yellow knife on Wed Aug 26, 2015 12:24 pm

CSEC was one of my favourite as a trader.. Once they announced serious capital loss and share price plummeted. I collected as much as possible until CFVF declared dividends enough to absorb losses of CSEC... I too have gained from Shafter businesses.

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Post by First Guy on Thu Aug 27, 2015 12:12 am

GroundedKestrel wrote:Really? i have a personal experience in a business dealing with one of them. Then again, it just might be my take on things. Hence why i specified that it is I who distrusts.

I personally think that CFVF and CSEC have done far more harm than good to minority investors to be honest. Their dividend policy is also not that great either.

They can't have a solid pattern to pay dividends. We have discussed about this. The business is not the same every quarter. JINS is much better and great dividends.
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Post by Backstage on Thu Aug 27, 2015 10:12 am

The discussion on CFVF began when the price was around 12/=. SLS,Chinwi,Alchemist and Anthonym all spotted this and identified the cycle correctly, they went further and also spotted ESL which was trading at 17/=.
These are cyclical stocks and its up to the investor to time entry and exit. Schafters did there part admirably well, did you ?
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