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Prakash Schaffter, a leading Insurance personality in Sri Lanka, is the Cambridge-educated Executive Chairman of Janashakthi and has three decades of experience in the Insurance industry in both Sri Lanka and the United Kingdom. He led Janashakthi since 2006 as its Managing Director through a growth phase that saw Janashakthi become the third largest insurer, acquire the Non Life segment of AIA Insurance Lanka and most recently engage in the divestment of Janashakthi's Non Life segment. He was appointed Chairman in November 2018.

As the former President of the Insurance Association of Sri Lanka, Prakash has through several industry-related committees, led the discussion on regulatory changes, including the separation of Life and Non Life business segments. He continues to impact the business sector through his membership on the council of the Sri Lanka Institute of Directors (SLID).

Having been among the youngest Fellow Members of the Chartered Insurance Institute, he has also served as President of the Young Presidents Organisation of Sri Lanka. A former first-class cricketer, he represented both Cambridge University and London University during his cricketing career. Prakash has also served as President and Secretary of the Tamil Union Cricket and Athletic Club. He is a former Secretary of Sri Lanka Cricket, having served on three separate occasions on Interim Committees appointed by the Government.