HEALTH
HNB Assurance Limited is a quoted public limited
liability company incorporated under the Companies
Act No 17 of 1982 on 23rd August 2001.
The Company has an authorized capital of Rs. 1,000,000,000/-
(Rupees one Billion), made up of one hundred million
shares of Rupees ten each. The issued capital of
the Company is Rupees two hundred and fifty million
consisting of twenty five million ordinary shares
of Rupees ten each. HNB Assurance is a subsidiary
of Hatton National Bank, and 59.9% of the share
capital of the Company is held by the Bank, a leading
commercial bank in the private sector. The Company
is registered under the Regulation of Insurance
Industry Act No. 43 of 2000 and it has obtained
license from the Insurance Board of Sri Lanka to
undertake both Life and General Insurance business.
The Company commenced business on 22nd
November 2001 heralding the dawn of
new era in insurance. Under the General Insurance,
the Company provides the following classes of insurance
business.
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Fire
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Marine |
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Motor
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Miscellaneous
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The Company commenced Life Insurance
business on 1st January 2002. Further particulars
of the products and services offered by the Company
are indicated in the product profile pages.
HATTON NATIONAL
BANK - THE POWER BEHIND HNB ASSURANCE
Hatton National Bank Limited (HNB or the Bank) is
a public limited liability company, which was incorporated
on 5th March 1970 under the Companies
Ordiance (Cap. 145, Revised Legislative Enactment
1956) in Colombo, Sri Lanka, and has been issued
a license under the provisions of the Banking Act
No. 30 of 1988. Hatton
National Bank was established in 1888 as
the "Hatton Bank" to cater to the flourishing
tea industry. Subsequently the Bank amalgamated
with Kandy and Nuwara Eliya Branches of National
& Grindlays Bank and was renamed Hatton National
Bank in 1970. During the past three decades through
internal growth and the acquisition of the Colombo
Branches of the Mercantile Bank, Emirates Bank,
Banque Indosuez, and Habib Bank AG Zurich, HNB
was able to become one of the most profitable
private sector commercial banks in Sri Lanka.
HNB is also the largest
private sector commercial bank in Sri Lanka in
terms of advances, deposits, total assets and
branches. Currently, the Bank has a network of
138 Customer Centres, within Sri Lanka and 02
representative offices in India and Pakistan.
HNB commands a significant market share in most
core areas of operations, and is only exceeded
by the two larger state banks. The Bank also has
the second largest foreign currency deposit base
amongst all the domestic banks.
Today the Bank has an asset base of approximately
Rs. 133 billion and was ranked among the top 500
Asian Banks as published by "Asiaweek" (September
2001). In the Colombo Stock Exchange, HNB enjoys
the 15th position in terms of market capitalisation
with a market value of Rs. 3,795 million as at
31st December 2003. (Source: CSE Monthly Market
Report)
HNB Provides a broad
range of financial services including Corporate
and Retail Banking, Trade Finance, International
Banking, Corporate Finance, Leasing, and Project
and Development Financing. Other ancillary financial
services provided by the Bank include Insurance,
Investment Banking, Stock Broking, Pawning, Sale
of Gold and Margin Trading facility in shares.
VISION
To be our client's most reliable partner in providing
insurance solutions.
MISSION
To maintain the highest ethical standards and
professionalism in every sphere of activity. To
regard customers as our reason to be and build
cordial, stable relationships through viewing
insurance needs from their standpoint. To maintain
a high quality investment portfolio as the means
to preserve the capital base. To recruit, develop
and maintain staff of the highest degree of professionalism
and experience. To establish a powerful presence
in the market with the reputation for speedy conclusion
of business. To estimate situations pragmatically
and resolve these both effectively and positively. |
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