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”.
Oct
HNB Assurance PLC made history by hosting its Partnership Awards 2024 on an international stage for the very first time. Held at the prestigious Berkeley Hotel in Bangkok, the event brought together over 100 participants, including HNB and HNB Assurance staff, Bancassurance Officers and their families, for a night of celebration, recognition and appreciation. The Partnership Awards, a key annual event for HNB Assurance, is about acknowledging the exceptional contributions of the company’s partnership channel, which has played a critical role in the overall company’s growth. This year’s event was special, as it was the first time an awards ceremony of this nature was held outside Sri Lanka—an exciting milestone which reflects HNB Assurance’s growth and ambitious leadership and vision. Speaking at the event, Mr. Lasitha Wimalaratne, CEO of HNB Assurance shared his excitement about the channel’s achievements: “It’s a proud moment for us to be here in Thailand, celebrating the hard work and remarkable milestones of our partnership channel which has shown remarkable growth over the past couple of years. The journey of crossing the LKR 5 billion Gross Written Premium milestone is no small feat and the fact that our partnership channel now contributes almost 46% of our total GWP shows just how vital its role is, in our success. As we move ahead, we must strive to push our boundaries by staying innovative and focusing on customer satisfaction. So, congratulations to all the award winners and teams behind organizing this gala event.”Mr. Supun Dias, Assistant General Manager, Network Business of Hatton National Bank, attending the ceremony as the Guest of Honor, opined, “It truly is remarkable to see the progress HNB Assurance has made over the years. To grow year after year within a challenging economic landscape is no easy task. I am confident that with this momentum, HNB Assurance will continue to achieve greater success and set new benchmarks in the industry. It’s an exciting time and journey ahead for us as the HNB group and I’m extremely proud to be here to witness this milestone."HNB Assurance was recognized as the best Life Bancassurance Provider by the Global Banking and Finance Review for four consecutive years. Further the bancassurance team recorded an impressive milestone of 122 MDRT qualifiers out of a sales force of over 200.“What makes this event special is that we’re not just celebrating numbers, we’re celebrating our people” stated Mr. Sanesh Fernando, Chief Business Officer Partnerships. “It’s been a privilege to watch our Bancassurance Officers grow and achieve new heights each year. This event in Thailand is a reflection of just how far we’ve come together and I certainly believe that the best is yet to come. Recording 122 MDRT qualifiers including 17 COTs and 02 TOTs last year and being recognized as the Best Life Bancassurance Provider on four consecutive occasions is a testament to the dedication and hard work of our team. While these achievements highlight the exceptional talent within our Bancassurance channel, I have no doubt that we will continue reach even greater heights in the future. Finally, I’d like to take a moment to thank our parent company Hatton National Bank along with our other partner banks, financial institutions and broker network for their continued support.”
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Oct
HNB Assurance PLC entered an exciting new partnership with the Industrial Development Board (IDB), which will bring customized insurance solutions to more than 10,000 Micro, Small and Medium Enterprises and large corporates that are registered with the IDB. This collaboration is aimed at supporting the backbone of Sri Lanka’s economy and helping businesses thrive with the security they need to grow.Speaking about this collaboration, Mr. Lasitha Wimalaratne, CEO of HNB Assurance, opined, "We see our partnership with the IDB as more than just a collaboration, it’s in a way a national service. Small and medium-sized businesses (SMEs) are the heart of our economy and they play a huge role in driving growth and creating jobs. By teaming up with the IDB, we are not only offering insurance products, we are providing a sense of security for business owners and their employees. As a result, these companies can focus on what they do best and help our economy thrive. My sincere thanks to the IDB for placing their trust on HNB Assurance and we look forward to a fruitful partnership”Dr. Saranga Alahapperuma, Chairman of the IDB, emphasized the importance of this collaboration "At IDB, our mission has always been to empower Sri Lanka’s industrial sector. We operate with the ultimate goal of providing a boost to the Sri Lankan economy by creating employment opportunities, improving the standard of living and promoting overall economic development. Hence, this partnership with HNB Assurance is a natural extension of that mission. By offering customized insurance solutions, we’re giving our registered companies an added layer of security, which is crucial in today’s competitive market.”The unique feature of this partnership comes in the form of a commitment to supporting the growth of local industries, where HNB Assurance has pledged to allocate a small sum to the IDB Development Fund. Which the IDB will utilize to offer business loans to entrepreneurs at the lowest possible interest rates.Mr. Sanesh Fernando, Chief Business Officer – Partnership Channel of HNB Assurance PLC, highlighted the benefits of this collaboration, stating, “I certainly believe that this partnership is poised to create significant benefits for everyone involved. For HNB Assurance, it opens up new opportunities to serve the business community. For the IDB, it creates more resources to support their mission of industrial development. For the SMEs, it means greater security and peace of mind as they navigate the challenges of today’s economy. For this collaboration, we have developed a specialized product tailored to the unique needs of IDB-registered companies and additionally we have also pledged a sum from each policy to the IDB’s Development Fund to be given out as a loan, whereby business growth is facilitated.”
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Sep
HNB Assurance PLC is pleased to announce the appointment of Prof. Ananda Jayawardane as Non-Executive / Non-Independent Director with effect from 09th August 2024. Professor Ananda Jayawardane is currently a Senior Professor in Civil Engineering at the University of Moratuwa, a Commission Member of the University Grants Commission, and a member of governing boards of several other public and private sector organisations. He recently completed his term as the Chairman of the Commercial Bank of Ceylon PLC after serving nine years in its Board. He is also a past Vice-Chancellor of the University of Moratuwa, a past Chairman of the Committee of Vice-Chancellors and a past Director General of the National Science Foundation.He has extensive experience and expertise in corporate governance in public institutions & private corporates, banking, finance, strategy, leadership, institution building, policy making, science & technology and teaching in subject areas of planning, project management, technology management, technology transfer and negotiation. He is a Chartered Engineer, an International Professional Engineer, a Fellow of the Institution of Engineers, Sri Lanka, a Fellow of the Institute of Project Managers, Sri Lanka, a Fellow of the National Academy of Sciences of Sri Lanka, a Life Member of Sri Lanka Association for Advancement of Science, a Graduate Member of the Sri Lanka Institute of Directors and a Member of the Society of Structural Engineers Sri Lanka. He is also the past NDB Bank Endowed Professor in Entrepreneurship at the University of Moratuwa and a Past President of the Institution of Engineers, Sri Lanka. He has also served as a member of the governing Councils/Boards of National Science Foundation, Institute for Construction Training and Development, State Engineering Corporation, Post-graduate Institute of Management, Miloda Academy of Financial Studies, the Open University of Sri Lanka, Construction Industry Development Authority, Engineering Council of Sri Lanka and Green Building Council of Sri Lanka.He has co-authored several textbooks and has published and presented over 85 research papers both locally and internationally and delivered memorial orations, convocation addresses and keynotes in many occasions. He has received several awards for his research publications. He is also the recipient of the National Achiever’s Award - 2013 under the category of Engineering by Lions Clubs International – District 306A1, the IESL President’s Award – 2012 and the Asia’s Education Excellence Award – 2016 for outstanding contribution to education, Sri Lanka Education Leadership Award – 2017 for education leadership, Sri Lanka Education Leadership Award – 2018 for outstanding contribution to education presented by World Education Congress and CMO Asia and “Eminence in Engineering” award – the highest, most prestigious life time award given by the IESL for eminence in practice of engineering – 2018.
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