Janashakthi Insurance PLC announced the appointments of Sivakrishnarajah Renganathan and Dr. Nishan de Mel as Independent Non-Executive Directors of the organisation with effect from 27 July 2022.
“We are pleased to welcome S. Renganathan and Dr. Nishan de Mel to the Board of Janashakthi Insurance PLC, as we continue to accelerate the execution of our strategic priorities to expand our presence in the Life Insurance segment,” said Janashakthi Insurance Executive Deputy Chairman Prakash Schaffter.
“Renganathan joins us with a rich tenure of 41 years in the banking sector and extensive financial and managerial experience which will provide valuable insights as we continue to pursue our growth journey. Dr. de Mel is an economist with extensive knowledge and experience in strategic planning, which will enable our growth strategy to drive transformation. We are confident that they will provide valuable perspectives and will create a new dynamic within the board as we continue to transform the insurance industry to better serve our customers and communities.”
Sivakrishnarajah Renganathan is the former Managing Director/CEO of Commercial Bank of Ceylon PLC and Commercial Development Co., PLC, and Deputy Chairman of Commercial Bank of Maldives. He has led Commercial Bank’s acquisition of the banking operations of Credit Agricole Indosuez in Bangladesh, and has served, among others, as a Member of the General Council of the Institute of Bankers of Bangladesh. He was also Founder/President of the Sri Lanka Bangladesh Chamber of Commerce and Industry, and an Executive Member of the Foreign Investors Chamber of Commerce and Industry in Bangladesh.
Renganathan, a Fellow of the Chartered Institute of Management Accountants, UK (FCMA), Fellow of the Chartered Global Management Accountant (CGMA), Fellow of the London Institute of Banking & Finance, UK (FLIBF) and a Fellow of the Institute of Bankers Sri Lanka (FIB), has received extensive leadership, management, and banking training, both locally and overseas.
Dr. Nishan de Mel is the Executive Director and Head of Research of Verité Research, a think tank providing analytical research and advisory services on economic, political, and legal issues in Sri Lanka and Asia. He is an economist with extensive academic, policy, and private sector experience. In Sri Lanka, he has been a member of the Presidential Task Force on Health Sector Reform, the Presidential Committee on Tobacco, Alcohol, and Dangerous Drug Regulation, and the National Steering Committee on Social Security.
He has also served as an Executive Director of the International Centre for Ethnic Studies (ICES) and on the Board of the Sri Lanka Foundation Institute, amongst others. Furthermore, Dr. de Mel is already a Non-Executive Director in the Board of First Capital Holdings PLC of the Janashakthi Group.
Internationally, Dr. de Mel has held several governing, teaching, and research positions, including as a Lecturer in Economics at the University of Oxford, UK. His undergraduate degree in Economics was from Harvard University, the US, while he earned his masters and doctoral degrees in Economics at the University of Oxford where he was a Chevening scholar.
These appointments are a part of Janashakthi Life’s strategic efforts to strengthen its Board of Directors with a diverse mix of industry leaders and a wide range of expertise. With this, the Board of Directors of Janashakthi Insurance PLC now comprises Prakash Schaffter, Ravi Liyanage, Nathan Sivagananathan, Avindra Rodrigo, Mahela Jayawardena, Warini De Costa, Dinesh Schaffter, Annika Senanayake, Sivakrishnarajah Renganathan, and Dr. Nishan de Mel.
Their wealth of experience from across a variety of industries together with the strong fundamentals of the parent company, the Janashakthi Group, offer Janashakthi Life a solid foundation to accelerate strategic growth.