Received recognition for excellence in Corporate Governance Disclosure in the Financial Services category

Janashakthi Life, the flagship brand of JXG (Janashakthi Group), secured the Gold Award in the Insurance category among companies recording a Gross Written Premium of up to LKR 10 billion at the recently concluded prestigious TAGS Awards 2025, organised by CA Sri Lanka.

The Company also received recognition for excellence in Financial Services Corporate Governance Disclosure, reflecting its high standards in regulatory adherence and board-level supervision.

The awards ceremony, held recently at Shangri-La Colombo, commemorated the landmark “Diamond Chapter” edition of the TAGS Awards, celebrating six decades of advancing excellence in corporate reporting in Sri Lanka. Organised in collaboration with the Colombo Stock Exchange, the TAGS Awards are widely recognised as the nation’s most rigorous benchmark for transparency, accountability, governance and sustainability in annual reporting.

The TAGS Awards (Transparency, Accountability, Governance and Sustainability) are aligned with global reporting standards, and Janashakthi Life’s Gold Award reflects enhancements made to its integrated reporting framework, strengthened risk and capital disclosures, and improved articulation of long-term value creation. The Company’s 2025 Annual Report demonstrated a clear linkage between strategy, risk management and financial performance; structured disclosure of governance oversight and board committee effectiveness; transparent reporting on solvency, capital adequacy and operational resilience; forward-looking insights into sustainability and long-term value creation; and improved stakeholder-focused presentation and digital accessibility.

In a year where evaluation criteria were further refined to strengthen sector-specific benchmarking and forward-looking reporting standards, Janashakthi Life’s submission stood out within its peer group for clarity, analytical depth and governance transparency.

The Awards seek to encourage meaningful stakeholder communication through timely annual reporting, elevate the presentation of financial and non-financial information, promote compliance with legislative and Sri Lanka Accounting Standards, and drive the adoption of internationally accepted reporting practices.

Commenting on the achievement, Ravi Liyanage, Director/CEO of Janashakthi Life, said, “In the life insurance industry, trust is the foundation of value creation. This Gold standard recognition at the 60th Anniversary TAGS Awards affirms that Janashakthi Life’s reporting standards reflect not only regulatory compliance, but governance discipline and transparency that meet the expectations of policyholders, investors and regulators alike. As stakeholder scrutiny increases, we remain committed to raising the bar in disclosure quality and accountability.”

Jude Shanmugam, Chief Financial Officer of Janashakthi Life, added, “The strengthened evaluation criteria this year reflect the growing importance of integrated, forward-looking reporting. Over the past year, we have deliberately enhanced our integrated reporting architecture, strengthened risk transparency, and digitised key reporting processes to improve both accuracy and accessibility. The evolving TAGS evaluation framework places greater emphasis on forward-looking insights and governance clarity, and we are pleased that our efforts have been recognised at the highest level within our category. This recognition also underscores the dedication and hard work of the Janashakthi Life Finance team in driving reporting excellence.”

The TAGS Awards evaluate annual reports based on their ability to enable informed stakeholder decision-making, rather than financial performance alone. Judging is conducted through a multi-tier technical review process involving Chartered Accountants and industry experts.

Janashakthi Life’s dual recognition for both sector excellence and governance disclosure reinforces the Company’s commitment to robust internal controls, regulatory alignment and long-term sustainability within Sri Lanka’s evolving insurance landscape. As it moves beyond three decades of operations, Janashakthi Life continues to strengthen its reporting and governance frameworks to align with global best practices, supporting capital discipline, stakeholder confidence and sustainable growth.

Image Caption -  Janashakthi Life team receiving the Gold Award in the Insurance category at the TAGS Awards 2025