HNB Assurance PLC (HNBA) announced the launch of another revolutionary product to its product portfolio recently. HNBA Araksha, aLife Insurance product which focuses purely on the protection element,providinga range of benefits to safeguard the family of the Life Assured when uncertainty strikes. Sharing his views on the importance of protection based products in our market, Managing Director/CEO of HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI),Mr. Deepthi Lokuarachchi stated “In today’s fast-paced world individuals’ face unforeseen tragediesthatleavestheir families and loved ones exposed to tremendous emotional stress coupled withfinancial burden.It is in theirbest interest to take sufficientmeasures to facesuchuncertaintiesassociated with life. We often cannot do this ourselves and that’s whereLife Insurance comes into play to easeour loved ones of the burden of financial stress.HNBA Araksha is our way of helping individualsin the very act of protectingthemselves as well astheir loved ones”. Mr. Lokuarachchi further added,“The Management of HNBA has put in great efforts to develop a product which purely focuses on the protection aspect of the Policyholder and HNBA Araksha is a product developed with the expertise of a team of professionals with a thorough understanding of the behavioral and psychological aspects of our community. The product has been developed upon the analysis of current market trends, the real need of our community and the existing gaps in fulfilling the insurance needs of the community. And we strongly believe that a product of this nature would empower families to strike through, even during times of uncertainties”. Sharing views on the product attributes, Chief Operating Officer of HNBA Mr. Prasantha Fernando stated “HNBA Arakshaoffers a range of special benefits. The product offers a minimum lump-sum of LKR 5 MN and amonthly incomebetweenLKR25,000.00 -200,000.00for a maximumperiodof 10 years to the family upon the demise of the life assured. In addition to these main features, customers could opt fora number of additional covers such as Critical Illness, Medical Reimbursement and Total Permanent Disabilitycovers.Furthermore,an extension ofCritical Illness and Medical Reimbursement covers could also be obtained for spouse and children,subject to conditions. This product could be obtained through our Advisors and Bancassurance Officers who are well-versed in assessing and providing the best Life Insurance solutions to fulfill one’s protection needs”.
Jul
A key leadership announcement was made as Lasitha Wimalaratne has been appointed as an Executive Director/CEO of HNB Assurance PLC, while Sithumina Jayasundara has been appointed as an Executive Director/CEO of HNB General Insurance Limited.Both Lasitha Wimalaratne and Sithumina Jayasundara presently serve as the Chief Executive Officers of HNB Assurance PLC and HNB General Insurance Limited, respectively.Speaking on their appointment, Stuart Chapman, Chairman of HNB Assurance PLC and HNB General Insurance Ltd, stated “I’d like to extend my warmest congratulations to both Lasitha and Sithumina on their appointment to the respective Boards. Their leadership and contributions to both companies have been instrumental in driving growth and stability across the businesses, and I am confident that their appointment will further strengthen our strategic direction and enhance shareholder value.”Lasitha Wimalaratne has overall over 27 years of career experience with 24 years in the field of Life Insurance inclusive of 7 years of multinational experience at Aviva and AIA groups and 3 years of retail Sales and Marketing exposure in London.Prior to joining HNB Assurance PLC he functioned as the General Manager - Life Operations and Specified Officer at Softlogic Life Insurance PLC. Lasitha Joined HNB Assurance PLC in 2019 and served in the capacity of Chief Operating Officer and Principal Officer prior to being appointed as the Chief Executive Officer of HNB Assurance PLC. Lasitha holds a Master of Business Administration Degree (MBA) from the University of Wales, UK and a B. A. (Hons) Degree in Business Studies from the University of Sunderland, UK. He is a Chartered Insurer and a Fellow Member of the Chartered Insurance Institute (FCII). Lasitha is also a Fellow of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and an Associate Member of the Chartered Institute of Marketing, UK (ACIM). Lasitha functions as the President of the Insurance Association of Sri Lanka (IASL) and served as the President of the Sri Lanka Insurance Institute (SLII) for the period of 2019-2021. Further, he was the Founder Secretary General of the Chartered Insurance Professionals (ACIP) and served as a Council Member until March 2021. Lasitha also was a Board Director of Biodiversity Sri LankaSithumina Jayasundara, has over 27 years of experience in the Sri Lankan insurance landscape. His journey began with leadership roles in Non-Life insurance business at prestigious companies like Asian Alliance, MBSL, Janashakthi, and Eagle Insurance. He further broadened his expertise through international training programmes and conferences, specialising in Re-insurance. In 2014, Sithumina joined HNB General Insurance Limited, quickly rising through the ranks. He was appointed to the Group Executive Committee in 2015 and subsequently took on the responsibilities of Chief Technical Officer, Specified Officer, Chief Operating Officer, and Principal Officer. Beyond his corporate achievements, Sithumina actively contributes to the industry’s development. He was the Past President of the Sri Lanka Insurance Institute (SLII) and is a founding Council Member of The Association of Chartered Insurance Professionals (ACIP) in Sri Lanka. He also serves on the Insurance Association of Sri Lanka (IASL). Sithumina’s academic qualifications are equally impressive. He holds a Master’s Degree in Business Administration from Cardiff Metropolitan University, UK, and is the Sri Lanka award winner of the Advanced Diploma in Insurance (ACII - UK) and is a Chartered Insurer. Additionally, he holds the Senior Associateship of the Australian and New Zealand Institute of Insurance and Finance. He also currently serves as a member of the Expert Advisory Committee for the InsurInnovator Connect Global Series Events – Asia 2025.
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Jul
HNB Assurance PLC was recognized by Parenthood Global as one of the Most Outstanding Mom-Inclusive Workplaces for the second year in a row. This prestigious accolade reflects the company’s continued commitment to creating an inclusive, empathetic and empowering work environment for mothers in the workforce.Going a step further, Parenthood Global also honored five exceptional mothers from HNB Assurance as Outstanding Mom Leaders, acknowledging their ability to excel both as professionals and as parents.At the heart of this recognition lies HNB Assurance’s consistent efforts to support working mothers through policies and initiatives that foster balance, growth, and wellbeing. The company has implemented several people-centric benefits such as extended maternity and paternity leave, caregiver leave, flexible working arrangements, wellness support, and reimbursement of professional development costs, all designed to help mothers navigate both career and family responsibilities with confidence.Commenting on this milestone, Mr. Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance PLC, stated, “Being recognised for the second consecutive year as a mom-inclusive workplace is an incredible honor. At HNBA, we believe that empowering our people, especially working mothers, is key to building a resilient and compassionate organization. We are proud to have created a space where motherhood is embraced, not seen as a limitation, but as a strength that adds immense value to our culture and our success.”Ms. Navin Rupasinghe, Head of Human Resources at HNB Assurance PLC, also shared his thoughts on the recognition, “Our people are the heart of everything we do, and this award is a validation of the thoughtful and deliberate steps we have taken to ensure that mothers at HNBA feel seen, supported, and celebrated. From career mobility to emotional wellbeing, we are committed to enabling an ecosystem where our employees can thrive in all aspects of their lives, regardless of their background.”
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Jul
HNB Assurance PLC (HNBA) proudly launched HNB Assurance FamilyGuard, a comprehensive insurance product specifically designed for Sri Lankans employed overseas. The product aims to support migrant Sri Lankans by enabling them to build a reliable retirement fund while ensuring their loved ones back home are financially protected.FamilyGuard offers a well-rounded solution that blends long-term financial planning with robust life insurance protection. It provides a range of built-in benefits including Death Benefit, Accidental Death Benefit (ADB), Partial and Total Permanent Disability (PPD) and Waiver of Premium (WOP) due to either death or total permanent disability. These benefits are further complemented by flexible maturity options and a secure investment component designed to generate strong long-term returns, making FamilyGuard a practical and future-ready choice for overseas workers.“At HNB Assurance, we are continuously evolving to cater to the diverse and changing needs of our customers,” stated Lasitha Wimalarathne, CEO of HNB Assurance PLC. “The launch of FamilyGuard reflects our efforts to supporting the aspirations of Sri Lankans working overseas, who often sacrifice so much for the wellbeing of their families. This product is not only about protection, it is about planning for a dignified, financially secure future. We are also strategically equipping our business to be agile, responsive and innovation-led to meet these evolving customer needs.”Speaking about the strengths and features of the product, Dinesh Udawatta, Chief Technical Officer of HNB Assurance, noted, “FamilyGuard has been thoughtfully crafted with features that address the real-world risks faced by overseas workers. From comprehensive life coverage and disability protection to the Waiver of Premium option that ensures policy continuity during times of hardship, we have designed a solution that is both protective and empowering. Its investment element ensures that policyholders can systematically build a secure retirement fund while they are employed abroad.”Nalin Subasinghe, Chief Actuarial Officer of HNB Assurance, stated, “FamilyGuard has been priced to deliver great value to our policyholders. We have balanced affordability with long-term financial growth by optimizing premium allocation and minimizing frictional costs, allowing a greater portion of the customer’s contribution to be invested for high returns. This approach ensures that our overseas customers receive not just protection, but meaningful financial progress as they prepare for a secure retirement.”Customers can find out more about HNB Assurance FamilyGuard by vising www.hnbassurance.com or calling the company’s Assurance Line on 1301. Further, HNB Assurance PLC is regulated by the Insurance Regulatory Commission of Sri Lanka (IRCSL) and customers are advised for more details on benefits, exclusions, terms and conditions, to read the policy document carefully before concluding a sale.
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