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”.
Jul
In a move towards reimagining the future of accessible, digital-first healthcare, HNB Assurance PLC and Flash Health entered a partnership to enhance the wellness experience for policyholders. This collaboration brings together the trust and legacy of one of Sri Lanka’s leading insurance providers with the innovation and agility of a health-tech disruptor, creating a future where wellness is not just promised, but truly delivered.Under this partnership, HNB Assurance policyholders will gain seamless access to Flash Health’s full ecosystem of digital healthcare services, including medicine delivery, lab testing, doctor consultations, and more, all through a convenient and user-friendly mobile app. This ensures that wellness is no longer reactive, but proactive, accessible, and empowering.HNB Assurance’s Executive Director / Chief Executive Officer, Lasitha Wimalaratne, stated, “This collaboration is a natural extension of our commitment to deliver value beyond traditional insurance. By integrating Flash Health’s capabilities, we enable our customers to manage their health proactively, making insurance a safety net and a platform for ongoing wellness.”“At Flash Health, we believe that good health shouldn’t begin at the hospital, it should start at home,” said Arshad Ameer, Founder of Flash Health. “This partnership marks a bold step in our mission to make healthcare accessible, timely, and personalised for every Sri Lankan. Together with HNB Assurance, we are creating an experience that puts people first, where policyholders don’t just receive cover, they receive care.”With policyholders across the country, this partnership is expected to touch thousands of lives, offering timely access to healthcare, reducing waiting times, and improving the quality of life, especially for the elderly, chronically ill, and time-constrained working professionals.
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Jul
In a year that marked new milestones and continued momentum, HNB Assurance brought together its team from around the island, for the 2025 Staff Conference, an evening dedicated to celebrating its people and the values that fuel the company’s remarkable rise. With over 850 team members in attendance, the event was graced by Chairman Mr. Stuart Chapman as the Chief Guest, alongside members of the Board of Directors, making it a truly memorable gathering.Held under the theme of “United, Bold, Victorious” the event wasn’t just a look back at accomplishments, it was a celebration of the individuals behind them. From honoring years of loyal service to applauding those pushing boundaries across teams and disciplines, the night was a powerful reminder of why HNB Assurance continues to thrive.The highlight of the evening was a series of recognitions that reflected the company’s holistic approach to success. The Long Service Awards honored those who have dedicated over 15 years to HNB Assurance’s journey. The Chairman’s Award recognized employees who have truly redefined excellence. The In.she Woman Empowerment Award celebrated women breaking barriers, while the CEO’s Special Recognition Award honored teams and individuals achieving extraordinary success outside their formal roles – including in sports and collaborative business innovations.Addressing the gathering, Executive Director / CEO Lasitha Wimalaratne reflected on the year and the collective effort that continues to drive HNB Assurance forward “We are not just building a business. We are building a culture of purpose, integrity and shared ambition. Over the past few years, we have grown at twice the pace of the industry, not because of chance, but because of our people, their commitment and belief in what we are building together. I couldn’t be prouder to lead this team.”Mr. Navin Rupasinghe, Deputy General Manager / Head of Human Resources, sharing his thoughts, stated, “This conference is a celebration of growth, but more importantly, of gratitude. It is about recognizing the culture we have created, one where people feel valued, empowered and inspired. Every award handed out tonight carries a story of hard work. As we continue to raise the bar, it is clear that our greatest asset will always be our people. This year also marks a significant milestone with the official launch of our Diversity, Equity, and Inclusion (DEI) framework, reinforcing our commitment to creating a workplace where everyone feels seen, heard and supported, which is another step toward building an environment where every individual can thrive.”
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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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