Allianz completes acquisition of Janashakthi General Insurance

Feb 26, 2018 (LBO) – Allianz announced the company has completed its acquisition of Janashakthi General Insurance Limited, after receiving all the necessary regulatory approvals, Monday. This transaction brings together two highly complementary businesses for enhanced scale, competitiveness and service capabilities, while positioning Allianz as one of Sri Lanka’s largest general insurers and significantly accelerating its growth agenda in this market. With this closing, Allianz will begin amalgamating the operations of both companies, while being fully committed to honouring and servicing the policies of our customers from both Allianz Insurance Lanka Limited and Janashakthi General Insurance Limited. Janashakthi Insurance sold its general insurance business to Allianz SE in Germany for 16.4 billion rupees.