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HNBA News

HNB Assurance Group Ends Financial Year 2017 with a Superlative Growth

HNB  Assurance  PLC  (HNBA)  and  its  fully  owned  subsidiary  HNB  General  Insurance  Limited (HNBGI) posted a Profit After Tax (PAT) of Rs. 910 Mn for the year ended 31stDecember 2017, depicting a steady growth of 41% in comparison with the PAT of Rs.647 Mn recorded in 2016. The Group recorded a Gross Written Premium (GWP) of Rs 7.82 Bn, signifying a growth of 17% as  contrasted  with  the  GWP  of  Rs.  6.65  Bn  recorded  in  the  financial  year  2016.  The  Parent Company, HNB Assurance PLC recorded a GWP of Rs 3.96 Bn and the subsidiary, HNB General Insurance Limited recorded a GWP of Rs. 3.86 BN. The  Group  was  able  to  yield  an  Interest  and  Dividend  Income  of  Rs.  1,693  Mn,  showcasing  a growth  of  43%against  an  Interest  and  Dividend  Income  of  Rs.  1,180  Mn  achieved  during  the previous  year.  Total  Assets  of  the  Group  reached  a  mark  of  Rs.  18.65  Bn  and  Investments  in Financial  Instruments  reached  a  value  of  Rs  15.05  Bn.  During  the  course  of  2017,  the  Life Insurance Fund reached a value of Rs. 10.9 Bn and the General Insurance Fund reached a value of Rs 2.38 Bn. Expressing    her    views    on    the    solid    financial performance    during    the    year    under    review, Chairperson  of  HNB  Assurance  Group,  Mrs.  Rose Cooray  stated “the Group delivered a superlative financial  performance  during  the  course  of  2017, depicting  a  steady  flow  of  revenue  generation and  accelerating  progress  towards  achieving  our corporate  goals  during  2017.  The  Management guided  by  the  Board  has  meticulously  executed  a well-crafted  plan  that  focused  on  creating  value to all stakeholders. Not only have we been able to fulfil   the   aspirations   of   the   shareholders,   the Group  paid  out  Rs  2.29  Bn  in  claims  and  have  focused  on  rewarding  its  employees,  while contributing  towards  society  through  various  corporate  stewardship  initiatives  and  we  are confident that this growth we’ve embarked on will continue during 2018”. Sharing  his  thoughts  on  the  Group’s  financial performance,   Managing   Director/CEO   of   HNBA   and HNBGI Mr. Deepthi Lokuarachchi stated “the strategies deployed   during   the   course   of   2017   led   the   Group capture emerging and dynamic markets. The Group was able  to  maintain  its  solid  industry  position  throughout the course of 2017, despite the volatile macro-economic conditions  and  heightened  competition.    The  financial growth  of  HNBA  Group  in  2017  has  been  consistent throughout the year. The positive growth momentum of these  financial  results  was  triggered  by  the  strategic investments   of   the   Group   and   the   dynamicpolicies followed  in  underwriting  risk.  The  General  Insurance business showcased an exponential growth during the course of 2017, surpassing the growth rates  of  the  industry.  HNBGI  was  able  to  achieve  this  outstanding  growth  as  a  result  of  its well-focused risk selection, effective management of claims settlement as well as its pricing strategy.  It  is  noteworthy,  that  both  the  Life  and  General  Insurance  businesses  took  great measures  in  settling  claims,  especially  claims  pertaining  to  catastrophes  such  as floods  and epidemics  such  as  Dengue.  The  Management  of  HNBA  Group  remains  confident  of  its  future outlook  and  in  seizing  every  opportunity  to  further  consolidate  the  Group’s  financial standing”.

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Aug

HNB Assurance amongst Sri Lanka’s 10 Most Outstanding Women-Friendly Workplaces once again

HNB Assurance PLC (HNBA), one of Sri Lanka’s leading life insurance providers, has once again been honoured as one of the nation’s most outstanding women-friendly workplaces at the 2025 Satynmag Women Friendly Workplace Awards. This accolade, which marks the fourth such recognition for HNBA, underscores the organisation’s enduring dedication to creating an inclusive, progressive and empowering work environment for women across all levels of the company.The Women Friendly Workplace Awards are designed to spotlight corporations that actively promote gender equity, cultivate inclusive leadership, and champion the advancement of women within the corporate sphere. In receiving this recognition year after year, HNB Assurance continues to demonstrate that its policies and practices are not only consistent but also continuously evolving to meet the changing needs of a modern workforce.“At HNB Assurance, we believe that an enlightened workplace is one where every individual, and especially women, feel empowered to grow, contribute and innovate,” said Mr. Lasitha Wimalaratne, Executive Director / CEO of HNB Assurance. “This recognition reflects not only our dedication to embedding best-in-class HR practices, but also our conviction that true organisational strength is forged through women-friendly policies, inclusive leadership, equitable opportunity and a culture that celebrates and cultivates excellence. My sincere thanks to Satynmag for this recognition. We are honoured to be recognised as a women-friendly workplace and remain steadfast in our commitment to setting new benchmarks for empowering women in Sri Lanka.HNBA’s Head of Human Resources / DGM, Mr. Navin Rupasinghe, reflected on the achievement stating “Over the years, we have introduced a series of targeted initiatives from wellbeing programmes and leadership mentoring to structured training and responsive grievance mechanisms which go beyond symbolic gestures and instead create a tangible impact in the everyday professional lives of our employees. Winning this accolade for the fourth time assures us that these interventions are not only appreciated externally, but are also deeply resonant internally, helping us to build trust and loyalty across the organisation. I wish to extend my sincere gratitude to the in.she committee, whose contributions have been pivotal in translating our vision into meaningful action, and who continue to drive the progress that we are proud to celebrate today.”

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27

Aug

HNB Assurance Crowned Best Life Insurance Company by Global Brands Magazine

HNB Assurance PLC, one of Sri Lanka’s fastest-growing insurance providers, has been recognized as the Best Life Insurance Company – Sri Lanka 2024 by Global Brands Magazine, UK. This international accolade emphasizes HNBA’s position as a strong player within the life insurance sector, continuously raising the bar in customer experience, innovation and industry excellence.Throughout the year, HNBA has been celebrated with numerous local and international accolades, including being named the Insurance Sector Winner at the National Business Excellence Awards and Runner-up for Excellence in Local Market Reach (National Level). The Company has also been recognized as the Best Life Bancassurance Provider by the Global Banking and Finance Review for five consecutive years, listed among the top 40 Best Workplaces in Sri Lanka and ranked 09th among large scale work places by Great Place to Work, honored as Sri Lanka’s Most Outstanding Women Friendly Workplace 2024 and acknowledged as a Company with Great Managers.These recognitions highlight the balance of HNBA’s focus on business performance, the strength of its people, and a culture that empowers growth, the very foundations that have made the Company one of the strongest and most respected players in the insurance industry today.Speaking about the award, Mr. Lasitha Wimalarathne, Executive Director / Chief Executive Officer of HNB Assurance, stated, “Being recognized as the Best Life Insurance Company by Global Brands Magazine is an honor, as this award validates the collective efforts of our dedicated team and our commitment to protecting the dreams and aspirations of our policyholders. Our journey of growth and recognition is driven by a simple principle, keeping our customers at the heart of everything we do, while embracing innovation and building trust across every interaction. Our strong financial performance reflects this and gives us the confidence to expand further in delivering meaningful protection to all Sri Lankans. My sincere thanks to the Global Brands Magazine for this recognition and I dedicate this award to every single person who is a part of the HNBA family.”

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27

Aug

HNB Assurance Group Reports Exceptional Financial Performance for Q2 with 30% Growth

HNB Assurance PLC (HNBA) and its subsidiary, HNB General Insurance Ltd (HNBGI), have delivered exceptional financial results for Q2 2025, reinforcing their strong market position while showing robust growth across key metrics and reinforcing its solid position in the market.For the first six months of 2025, the Group’s Gross Written Premium (GWP) rose 30% to Rs. 14.3 billion from Rs. 10.9 billion in 2024. Profit After Tax (PAT) increased 10% to Rs. 519 million (excluding Life Insurance Surplus Transfer), while total assets reached Rs. 70.2 billion, up from Rs. 62.4 billion a year earlier. Investment income climbed 6% to Rs. 4.0 billion. The Group honored Rs. 3.8 billion in net claims and benefits, a 15% increase, reflecting its strong policyholder commitment. Assets Under Management (AUM) grew to Rs. 61 billion, and Basic Earnings Per Share (EPS) rose to Rs. 3.46 from Rs. 3.16.“Our strategy has always been straightforward, expand our footprint while delivering greater value to our customers and strive to be consistent at it,” said Mr. Stuart Chapman, Chairman of HNB Assurance and HNB General Insurance. “This focus has enabled us to strengthen our position in the market and sustain the strong momentum we have built over the years, positioning us well for the future in order to generate value for all our stakeholders.”HNB Assurance PLC recorded a 35% GWP increase to Rs. 8.6 billion in Q2 2025 from Rs. 6.4 billion in Q2 2024. PAT for the life business grew 17% to Rs. 428 million (excluding Life Insurance Surplus Transfer). The Life Fund expanded to Rs. 44.1 billion from Rs. 35.2 billion, underscoring long-term stability. Net Claims and benefits incurred rose 33% to Rs. 1.9 billion from Rs. 1.4 billion, and investment income increased 8% to Rs. 3.6 billion.“Our strategic focus on expanding our product offerings and enhancing customer service has yielded impressive results,” said Lasitha Wimalaratne, Executive Director/CEO of HNB Assurance PLC. “The double-digit growth in our GWP and Life Fund, coupled with a significant increase in claims paid, demonstrates our commitment to our customers and our strong financial foundation.”HNB General Insurance Ltd (HNBGI) achieved Rs. 5.6 billion in GWP for the six months, a 23% increase from 2024, and settled claims worth Rs. 2.1 billion. The company’s total growth of 23% more than doubled the industry average which was at 11%. Its non-motor portfolio delivered the highest industry growth at 35% versus 4% sector growth, driven by the fire and engineering segment which posted an exceptional 49% growth against the industry’s 4%.“Our ability to stay ahead of the industry comes down to two things, the dedication of our people and the strength of our business model, which is to staying closely aligned to emerging trends and other developments taking place within the General Insurance industry,” said Sithumina Jayasundara, Executive Director/CEO of HNB General Insurance. “We have seen strong growth in our GWP, managed our contract liabilities wisely and delivered a healthy boost in profits. Additionally, this quarter was extra special with the launch of HNBGI NEXA, our AI-powered chatbot, a clear indication that as we are getting bigger, we are getting better.”

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