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HNBA News

HNB AssuranceContinues to Grow Steadily

HNB  Assurance  PLC(HNBA)and  its  fully  owned  subsidiary  HNB  General  Insurance Limited(HNBGI)posted a Profit After Tax (PAT) of LKR 176MN for the secondquarter of 2017, reflecting a phenomenal growth of 332% compared to the PAT of LKR 41 MN recorded  during  the  same  period  of  2016.  The  impressive  performance  of  the  Group reflected  in  all  performance  indicators.  The  Parent  Company, HNBAposted  a  PAT  of LKR 100MNmarking  a growth  of  54%  while  its  subsidiary  with  a  PAT  of  LKR    76  MN recorded a more impressive growth of 414% in PAT. During  the secondquarter  of  2017,  the  Group achieved  a  22%  growth in  its  Gross Written Premium(GWP), depictinga valueof LKR 3.8BN as against the GWP of LKR 3.1BN  recorded  during the  comparable  periodin2016.  The  Life  Insurance  segment contributeda GWP of LKR 1,919MN and the General Insurance segment contributeda GWP  of  LKR 1,901  MN  to  the  overall  GWP.  The  Life  and  General  Insurance  segments recorded  Premium  growth  rates  of  17%  and  27%  respectively.  During  the  second quarter of 2017, the group recorded an investment income growth of 54% reaching a value  of  LKR  771  MN  against  LKR  500  MN  recorded  during  the  same  period  of  2016.  The  Total  Assets  of  the  Group  reached  a  value  of  LKR  16  BN  and  Investments  in Financial  Instruments  reached  a  value  of  LKR  13  BN.  During  the  same  period  the  Life Insurance Fund and General Insurance Fund grew by 14% and 29% reaching values of LKR 10 BN and LKR 2.5 BN respectively. Sharing  her  thoughts  on  the  Group’sfinancial   performance,   Chairperson   of HNBA    and    HNBGI    Mrs.    Rose    Cooraystated,  “We  are  indeed  delighted  to announce the results of another successful    quarter.        Both    Life    and General Insurance segments have showcased  steady  revenuegrowths. The  concerted  and  well  targeted  efforts the Group  has  taken  throughout  2017 to  grow  profitable  business has  made  both  HNBA and  HNBGI  more  resilient  and  competitive  Insurance  companiesin  the  industry.    The Group  continues  to  leverage  on  its  core  competencies  in  stabilizing  its  market  share by delivering asubstantial long-term value to our shareholderswhilst meeting all our obligations   to   our   valued   customers   with   highest   responsibility.   These   financial results are a testament of the Group’s continuous financial  stability  and  its growth momentum”. Speaking  on  the  financial  performance  of  the  Group, Managing   Director/CEO   of   HNBA   and   HNBGI   Mr. Deepthi  Lokuarachchi  stated,  “Despite  many  tough challengesin  a  rapidly  changing market,  the  Group has  made  significant  strides  by  creating  a  stronger platform  for  growth  by  delivering  a  steady  financial performance.  This  growth  momentumof  the  Groupshowcases the strength of our business strategyand we are confidentthat both our Life and General Insurance companies will reach out as strong players in this industry”.  

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Aug

HNB Assurance amongst Sri Lanka’s 10 Most Outstanding Women-Friendly Workplaces once again

HNB Assurance PLC (HNBA), one of Sri Lanka’s leading life insurance providers, has once again been honoured as one of the nation’s most outstanding women-friendly workplaces at the 2025 Satynmag Women Friendly Workplace Awards. This accolade, which marks the fourth such recognition for HNBA, underscores the organisation’s enduring dedication to creating an inclusive, progressive and empowering work environment for women across all levels of the company.The Women Friendly Workplace Awards are designed to spotlight corporations that actively promote gender equity, cultivate inclusive leadership, and champion the advancement of women within the corporate sphere. In receiving this recognition year after year, HNB Assurance continues to demonstrate that its policies and practices are not only consistent but also continuously evolving to meet the changing needs of a modern workforce.“At HNB Assurance, we believe that an enlightened workplace is one where every individual, and especially women, feel empowered to grow, contribute and innovate,” said Mr. Lasitha Wimalaratne, Executive Director / CEO of HNB Assurance. “This recognition reflects not only our dedication to embedding best-in-class HR practices, but also our conviction that true organisational strength is forged through women-friendly policies, inclusive leadership, equitable opportunity and a culture that celebrates and cultivates excellence. My sincere thanks to Satynmag for this recognition. We are honoured to be recognised as a women-friendly workplace and remain steadfast in our commitment to setting new benchmarks for empowering women in Sri Lanka.HNBA’s Head of Human Resources / DGM, Mr. Navin Rupasinghe, reflected on the achievement stating “Over the years, we have introduced a series of targeted initiatives from wellbeing programmes and leadership mentoring to structured training and responsive grievance mechanisms which go beyond symbolic gestures and instead create a tangible impact in the everyday professional lives of our employees. Winning this accolade for the fourth time assures us that these interventions are not only appreciated externally, but are also deeply resonant internally, helping us to build trust and loyalty across the organisation. I wish to extend my sincere gratitude to the in.she committee, whose contributions have been pivotal in translating our vision into meaningful action, and who continue to drive the progress that we are proud to celebrate today.”

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27

Aug

HNB Assurance Crowned Best Life Insurance Company by Global Brands Magazine

HNB Assurance PLC, one of Sri Lanka’s fastest-growing insurance providers, has been recognized as the Best Life Insurance Company – Sri Lanka 2024 by Global Brands Magazine, UK. This international accolade emphasizes HNBA’s position as a strong player within the life insurance sector, continuously raising the bar in customer experience, innovation and industry excellence.Throughout the year, HNBA has been celebrated with numerous local and international accolades, including being named the Insurance Sector Winner at the National Business Excellence Awards and Runner-up for Excellence in Local Market Reach (National Level). The Company has also been recognized as the Best Life Bancassurance Provider by the Global Banking and Finance Review for five consecutive years, listed among the top 40 Best Workplaces in Sri Lanka and ranked 09th among large scale work places by Great Place to Work, honored as Sri Lanka’s Most Outstanding Women Friendly Workplace 2024 and acknowledged as a Company with Great Managers.These recognitions highlight the balance of HNBA’s focus on business performance, the strength of its people, and a culture that empowers growth, the very foundations that have made the Company one of the strongest and most respected players in the insurance industry today.Speaking about the award, Mr. Lasitha Wimalarathne, Executive Director / Chief Executive Officer of HNB Assurance, stated, “Being recognized as the Best Life Insurance Company by Global Brands Magazine is an honor, as this award validates the collective efforts of our dedicated team and our commitment to protecting the dreams and aspirations of our policyholders. Our journey of growth and recognition is driven by a simple principle, keeping our customers at the heart of everything we do, while embracing innovation and building trust across every interaction. Our strong financial performance reflects this and gives us the confidence to expand further in delivering meaningful protection to all Sri Lankans. My sincere thanks to the Global Brands Magazine for this recognition and I dedicate this award to every single person who is a part of the HNBA family.”

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27

Aug

HNB Assurance Group Reports Exceptional Financial Performance for Q2 with 30% Growth

HNB Assurance PLC (HNBA) and its subsidiary, HNB General Insurance Ltd (HNBGI), have delivered exceptional financial results for Q2 2025, reinforcing their strong market position while showing robust growth across key metrics and reinforcing its solid position in the market.For the first six months of 2025, the Group’s Gross Written Premium (GWP) rose 30% to Rs. 14.3 billion from Rs. 10.9 billion in 2024. Profit After Tax (PAT) increased 10% to Rs. 519 million (excluding Life Insurance Surplus Transfer), while total assets reached Rs. 70.2 billion, up from Rs. 62.4 billion a year earlier. Investment income climbed 6% to Rs. 4.0 billion. The Group honored Rs. 3.8 billion in net claims and benefits, a 15% increase, reflecting its strong policyholder commitment. Assets Under Management (AUM) grew to Rs. 61 billion, and Basic Earnings Per Share (EPS) rose to Rs. 3.46 from Rs. 3.16.“Our strategy has always been straightforward, expand our footprint while delivering greater value to our customers and strive to be consistent at it,” said Mr. Stuart Chapman, Chairman of HNB Assurance and HNB General Insurance. “This focus has enabled us to strengthen our position in the market and sustain the strong momentum we have built over the years, positioning us well for the future in order to generate value for all our stakeholders.”HNB Assurance PLC recorded a 35% GWP increase to Rs. 8.6 billion in Q2 2025 from Rs. 6.4 billion in Q2 2024. PAT for the life business grew 17% to Rs. 428 million (excluding Life Insurance Surplus Transfer). The Life Fund expanded to Rs. 44.1 billion from Rs. 35.2 billion, underscoring long-term stability. Net Claims and benefits incurred rose 33% to Rs. 1.9 billion from Rs. 1.4 billion, and investment income increased 8% to Rs. 3.6 billion.“Our strategic focus on expanding our product offerings and enhancing customer service has yielded impressive results,” said Lasitha Wimalaratne, Executive Director/CEO of HNB Assurance PLC. “The double-digit growth in our GWP and Life Fund, coupled with a significant increase in claims paid, demonstrates our commitment to our customers and our strong financial foundation.”HNB General Insurance Ltd (HNBGI) achieved Rs. 5.6 billion in GWP for the six months, a 23% increase from 2024, and settled claims worth Rs. 2.1 billion. The company’s total growth of 23% more than doubled the industry average which was at 11%. Its non-motor portfolio delivered the highest industry growth at 35% versus 4% sector growth, driven by the fire and engineering segment which posted an exceptional 49% growth against the industry’s 4%.“Our ability to stay ahead of the industry comes down to two things, the dedication of our people and the strength of our business model, which is to staying closely aligned to emerging trends and other developments taking place within the General Insurance industry,” said Sithumina Jayasundara, Executive Director/CEO of HNB General Insurance. “We have seen strong growth in our GWP, managed our contract liabilities wisely and delivered a healthy boost in profits. Additionally, this quarter was extra special with the launch of HNBGI NEXA, our AI-powered chatbot, a clear indication that as we are getting bigger, we are getting better.”

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