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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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15

Apr

HNB Assurance Strengthens Presence with Relocation of Branches in Nugegoda and Nuwara Eliya

<p class="MsoNormal" style="line-height:150%;text-align:justify;"><span style="font-family:&quot;HNBA &amp; GI&quot;;font-size:10.0pt;"><span style="line-height:150%;">HNB Assurance PLC, is delighted to announce the relocation of its branches to prime locations in Nugegoda and Nuwara Eliya. These strategic moves reflect on the company's intention to enhancing accessibility and service delivery to customers in key regions across the island. Providing convenient access to its comprehensive range of insurance products and services, including protection, health, savings, retirement and&nbsp;</span><span style="line-height:150%;mso-spacerun:yes;"> </span><span style="line-height:150%;">MRP has contributed to the progress of the company, showcasing a 20% year on year growth continuously over the past three years.&nbsp;</span></span><o:p></o:p></p><p class="MsoNormal" style="line-height:150%;text-align:justify;"><span style="font-family:&quot;HNBA &amp; GI&quot;;font-size:10.0pt;"><span style="line-height:150%;">Mr. Lasitha Wimalaratne, CEO of HNBA, expressing his thoughts at the branch openings, stated, “The decision to relocate our branches in Nugegoda and Nuwara Eliya was driven by our strategic vision to position ourselves in key high-traffic areas, enabling us to foster deeper connections with our customers and offer tailored insurance solutions that safeguard what matters most to them. As we embark on this journey of growth, our branch network remains integral, serving as the bedrock to our customer-centric approach. I have full confidence that these new locations will not only amplify our presence but also elevate the level of service we provide to the local communities."</span></span><o:p></o:p></p><p class="MsoNormal" style="line-height:150%;text-align:justify;"><span style="font-family:&quot;HNBA &amp; GI&quot;;font-size:10.0pt;"><span style="line-height:150%;">Mr. Harindra Ramasinghe, Chief Business Officer – Advisor Distribution Channel, emphasized the significance of the relocations in enhancing customer experience. "At HNB Assurance, we are constantly striving to exceed customer expectations and deliver exceptional value. Last year, we were honored for our pioneering Insurance Distribution initiative at the prestigious Emerging Asia Insurance Awards, a recognition which underscores our commitment not only to expansion but also for being innovative with our Distribution Strategy. The relocation of our branches in Nugegoda and Nuwara Eliya enables us to build closer relationships with our customers and provide them with unparalleled support and assistance. With a branch network of 69 branches and an advisor force in excess of 3500, the advisor distribution channel at HNBA has consistently displayed growth and innovation. I extend my heartfelt appreciation for the dedication and hard work of our teams and convey my best wishes for success to both branch teams.”</span></span><o:p></o:p></p><p class="MsoNormal" style="line-height:150%;text-align:justify;"><span style="font-family:&quot;HNBA &amp; GI&quot;;font-size:10.0pt;"><span style="line-height:150%;">The Nugegoda branch is now located at 69, S da S Jayasingha Mawatha, Kohuwala, Nugegoda, while the Nuwara Eliya branch has been relocated to 31/1/1, Lowson Street, Nuwara Eliya.&nbsp;</span></span><o:p></o:p></p>

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29

Mar

HNB Assurance Hosts Liya Harasara Event in Pujapitiya

<p class="MsoNormal" style="line-height:normal;"><span style="font-size:12.0pt;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">HNB Assurance PLC, recently organized a special event in celebration of International Women's Day, in Pujapitiya, Kandy. The event, which took place in collaboration with the Pujapitiya Provincial Council, aimed to empower and inspire women in the local community.</span></span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="font-size:12.0pt;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">The event marked the launch of the 12th edition of “Liya Harasara”, an annual initiative dedicated to acknowledging and supporting the contributions of women along with the remarkable essence of womanhood, while celebrating International Women’s Day. Additionally, "Liya Harasara" seeks to recognize the achievements of women across various fields and foster an environment of empowerment and inclusivity.</span></span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="font-size:12.0pt;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Featuring insightful sessions facilitated by distinguished individuals in their respective fields, Apsari Tillakaratne, addressed the gathering and shared personal insights from her life on how to overcome challenges. Sunethra Kumari shared her expertise, providing valuable insights into beauty and self-care practices while W.M. Sarani Pushpakumara, delivered an informative session on the importance of nutrition for overall well-being.</span></span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="font-size:12.0pt;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Attendees from the vicinity of Pujapitiya had the opportunity to engage with the facilitators, learn from their expertise, and participate in discussions aimed at promoting women's empowerment and holistic well-being. The event served as a platform for women to connect, share experiences and inspire each other towards personal and professional growth.</span></span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="font-size:12.0pt;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">HNB Assurance remains committed to supporting initiatives that promote gender equality, empower women and contribute to the well-being of communities across Sri Lanka. Additionally, the company also offers special benefits to females for new policies obtained during the month of March and April, 2024.</span></span><o:p></o:p></p>

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19

Mar

HNB Assurance Celebrates First Anniversary of Empowering Women with In.She

<p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">HNB Assurance PLC proudly celebrated the first anniversary of its groundbreaking women empowerment program, In.she. This initiative, designed to uplift and support women within both the insurance industry and the company, aims to foster gender equality and diversity.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Launched on March 8<sup>th</sup>, 2023, in celebration of International Women's Day, In.she has exemplified HNB Assurance's commitment to creating an inclusive workplace and empowering women to excel in their careers. The program's first-year celebration, held at the Royal MAS Arena, set the stage for a continued journey of empowerment and growth.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">In recognition of its efforts, HNB Assurance was recognized as one of the female-friendly workplaces to work in 2023, a testament to the company's support for women's advancement and well-being.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">The first anniversary celebration, themed "Glamor Galore," showcased a fashion show featuring designs and models from within the company's talented staff. Additionally, a panel discussion was hosted during the event, featuring esteemed personalities such as Yureni Noshika, Chathurika Peries, Ruchira Karunarathne and Dilini Jayasuriya.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Mr. Lasitha Wimalaratne, CEO of HNBA, sharing his thoughts at the first year anniversary of In.She, stated, "</span> <span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">At HNB Assurance, we are committed to creating an inclusive workplace where every individual, irrespective of gender, has the opportunity to excel. However, we must acknowledge that there are specific challenges that disproportionately impact women due to social and cultural factors, a key feature of our In.She program is to address and overcome these obstacles by providing support and resources required."</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Mr.</span> <span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Navin Rupasinghe, Head of Human Resources / Assistant General Manager of HNBA, added, "Our journey with In.She has been incredibly rewarding and we are thrilled to celebrate its first anniversary. Through this program, we have witnessed the remarkable potential of our female workforce. I’d like to take this opportunity to congratulate the In.She team for their efforts and passion in driving this initiative, let me also remind and emphasize that the management stands firmly behind this endeavor, offering complete support to ensure its continued success.”</span><o:p></o:p></p>

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