HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) posted a Profit After Tax (PAT) of LKR 282 MN for the nine months ended, 30thSeptember 2017, depicting a growth of 166% compared to the PAT of LKR 106 MN recorded during the corresponding period last year. The Group posted a Gross Written Premium (GWP) of LKR 5.8 BN, signifying a growth of 20% as opposed to the GWP of LKR 4.9 BN recorded during the same period in 2016. In reviewing the performance of each individual company, the Life Insurance Company recorded a GWP of LKR 2.9 BN as opposed to the GWP of LKR 2.6 BN achieved during the first nine months of 2016. The General InsuranceCompany registered a GWP of LKR 2.9 BN against the GWP of LKR 2.3 BN recorded during the corresponding period of 2016. For the nine months ended 30thSeptember, 2017 the group earned an Investment Income of LKR 1,197 MN with a growth of 45% against LKR825 MN achieved during the same period of 2016. The Total Assets of the Group reached a value of LKR 17.6 BN and Investments in Financial Instruments reached a value of LKR 14.4 BN. During the same period the Life Insurance Fund and General Insurance Fundgrew by 22% and 30% reaching values of Rs. 10.6 BN and 2.5 BN respectively. Speaking on the financial performance of the Group, Chairperson of HNBA and HNBGI Mrs. Rose Cooray stated that “the Board of Directors is extremely pleased on the Group’s financial performance showcased during the first nine months of 2017. The profits of the Group were triggered by several key contributors in both businesses. The growth of individual policies of the Life business and the growth of several categories such as Fire, Motor and Marine of the General business led the Group to yield these significant financial results. These financial results augur well for the sound business strategies deployed by the HNBA Group despite the stressful market conditions in this economic backdrop. The Q3 results of the Group demonstrate its stability where the key focus has always been on maximizing the returns to each stakeholder and delivering sustainable long-term returns and these robust financial results alongside the growth of both HNBA and HNBGI are testaments of the Group’s solid performance”. Sharing his thoughts on the Q3 financial performance, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated “coming off a strong first half, both HNBA and HNBGI teams have delivered steadfast results over Q3 as well, which marks a significant growth driven in particular by seizing new markets and deploying effective business strategies. The Group’s consolidated figures showcase the growth of several General Insurance segments, which have led the Group to yield these thriving results. I’m sure that these results will continue its growth in the final quarter of 2017, despite the on-going challenges. The Group continued to enhance and recalibrate its risk profile despite the volatile macroeconomic conditions within the regions and as a result the Group’s footprint in the country has been able to seize emerging growth opportunities by constantly maintaining its position in the industry. The HNBA Group remains confident of its competitive advantage, solidarity of its financial backing and the dynamic business strategies in acquiring new market segments and growing both Life and General businesses”.
May
HNB Assurance PLC (HNBA) has once again reaffirmed its industry leadership in Bancassurance by securing the title of "Best Life Bancassurance Provider in Sri Lanka" for the fifth consecutive year, awarded by the prestigious Global Banking and Finance Review – UK. Mr. Lasitha Wimalaratne, Chief Executive Officer of HNB Assurance, expressed his thoughts on this milestone, stating, “Being named the Best Life Bancassurance Provider in Sri Lanka for the fifth year in a row is not just an honor, it is a reflection of the enduring partnerships we have built especially with our parent company Hatton National Bank along with the passion of our teams. This accolade speaks volumes of our consistent efforts to elevate standards in bancassurance. Our teams continue to innovate, collaborate and break boundaries to deliver meaningful solutions to our customers. I’d like to extend my sincere thanks to the management of Hatton National Bank and our other partners for their continued guidance and support.”Highlighting the pivotal role of the Partnership Channel, Mr. Wimalaratne further added,“As we accelerate towards our goal of capturing a 10% market share, the Partnership Channel remains central to our growth strategy. Congratulations to the teams involved, I am immensely proud of what we have accomplished and am excited about the journey ahead.”Mr. Supun Dias, Senior Vice President - Network Management at Hatton National Bank, congratulated the team at HNBA, stating, “To witness HNBA win this prestigious title for five consecutive years is truly inspiring. It is a testament to the strength and synergy of our long-standing partnership. As a Group, we are committed to driving innovation and delivering superior value to our clients. Congratulations to HNBA and everyone involved in achieving this exceptional feat.”Also sharing his thoughts, Mr. Sanesh Fernando, Chief Business Officer – Partnerships at HNB Assurance, remarked, “This milestone is the direct result of the dedication our teams and tireless efforts they have made to deliver value to our policyholders. The Partnerships team at HNBA, together with our banking partners, especially Hatton National Bank, have been instrumental in shaping this success story. I’d like to extend my sincere appreciation to the HNB Branch Management, HNB Bank Network Management along our valued customers for their trust placed on us. This fifth win reinforces our drive to deliver excellence and as we move forward we will continue to strive to reach even greater heights.
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May
Strengthening its footprint across Sri Lanka, HNB Assurance PLC officially opened its newest branch in Jaffna, located at No. 521, Point Pedro Road, Nallur. With this addition, the company now operates 11 branches in the North emphasizing the company’s ongoing efforts to bring its life insurance solutions closer to communities in the Northern Province, making protection and financial planning more accessible than ever before. The new Jaffna branch will serve as a hub for customers in the region, delivering personalized insurance services with the hallmark trust, care and professionalism the company is known for.Speaking at the branch opening, Mr. Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance PLC, stated, “We are indeed excited to further strengthen our footprint in the Northern Province with the opening of this new branch in Jaffna. With multiple touchpoints already established in the region, our growing presence allows us to better serve the evolving needs of our customers and create even closer relationships with the communities we operate in. We remain dedicated to being a trusted partner in their journey towards a more secure and resilient future.”Sharing similar sentiments, Mr. Harindra Ramasinghe, Chief Business Officer – Advisor Distribution Channel of HNB Assurance PLC, commented, “With the opening of our newest branch in Jaffna, we now operate over 70 physical branches across the island and with this new branch opening we have reaffirmed our belief in the strategic importance of the Northern Province to our growth journey. We have always recognized Jaffna as a key region with immense potential and we are proud to strengthen our connection with its people. My sincere thanks to the Distribution Management team and all the other support teams for their efforts in helping us open this branch.”The newly inaugurated Jaffna branch is now open to serve customers from Monday to Friday, offering expert guidance and tailored life insurance solutions to meet diverse needs.
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May
In an effort to demonstrate its continued commitment to exceptional service and customer convenience, HNB Assurance PLC (HNBA) has launched a 24-hour call center, enabling policyholders to connect with the company on all matters related to customer service at any time, from anywhere using the short code 1301. While customer service support is now available 24/7, hospitalization claims-related services will continue to be handled as per the specific instructions issued to the policyholder at the time of obtaining a policy.HNB Assurance has experienced consistent growth, recording an impressive average growth rate of 26% over the past four years. The company’s momentum and customer-centric focus have paved the way for initiatives such as the 24-hour call center, designed to strengthen policyholder engagement and ensure seamless service delivery.“Exceptional customer service is not just a value we uphold; it is a critical pillar of our strategy to achieve a 10% market share by 2026” said Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance. “Making our call center available 24 hours a day, 365 days of the year, ensures our policyholders are supported when they need us most, reinforcing the trust they place in us every day. Additionally, our significant investments in digital transformation to make interactions of our policyholders with us seamless, to initiatives like this, all aim at delivering our broader mission to continuously enhance our customer experience”. Speaking further he went on to add “as an industry, as we push towards greater insurance penetration, it is important that players do everything in their power to foster greater levels of confidence and convenience to the customer”.Earlier this year, HNB Assurance also unveiled a dedicated Customer Service Centre, a thoughtfully curated space designed to create personalized and streamlined interactions. Together with the 24-hour call center, HNB Assurance continues to reimagine and elevate every aspect of the customer journey.“Our newly enhanced 24-hour call center operation and the upgraded Customer Service Centre we opened earlier this year are all part of our ongoing efforts to elevate and refine every touchpoint so as to offer a superlative customer experience that truly differentiates us from the competetion,” added Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer / General Manager of HNB Assurance. “We recognize that as a company we offer something that is intangible, protection, trust and peace of mind and for that, we need to be with our customers at all times. Hence, these initiatives are not standalone, they are integral to how we plan to grow, not just in size but in the value and care we offer to every policyholder.”
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