Striving for excellence and delivering value to its customers and stakeholders, HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) relocated its Galle Branch recently. TheBranch offers a full spectrum of Life, General and Takaful insurance solutions. Speaking at the opening, Chief Operating Officer of HNBA, Mr. Prasantha Fernando stated “The Company has been expanding its Branch network across Sri Lanka, offering the bestprotection plans for individuals and families to face the challenges of tomorrow. The Branch is located in the heart of Galle and offers a range of Life, General and Takaful Insurance solutions. The Branch offers an interactive customer experience intertwined with the expertise of our professional Insurance Advisors and staff helping customers select the best form of protection for themselves as well as their families both in Life and General Insurance”. Expressing his views, Chief Business Officer of HNBGI, Mr. Jude Benjamin stated “We’re indeed thankful to the team led by the Galle HNBA Cluster Manager Harishchandra Rajanayake and HNBGI Cluster Manager Madusha Kulathunga, for their dedication and support as well as for the efficient management of Branch operations and for their customer service excellence which has led the Branch to foster blooming results”. The Branch is located at No. 46/1/1, Colombo Road, Kaluwella, Galle.
Jan
HNB Assurance PLC (HNBA) made a significant ascent in the latest LMD 100 rankings climbing 13 places to reach rank 64, cementing its position as one of Sri Lanka's leading listed companies. Throughout the past few years, HNB Assurance has grown stronger, smarter and more united in its purpose, turning challenges into opportunities and refining every aspect of its operations.The LMD 100 is a prestigious annual ranking that evaluates the financial and strategic performance of publicly listed companies in Sri Lanka. HNB Assurance has consistently climbed the ranks year after year in recent years, reflecting the company’s sustained growth. With 2025 underway, HNB Assurance is planning to leverage its strengths and growth momentum maintained over the past couple of years, as this year represents the penultimate step in its ambitious journey toward achieving the vision of “10% market share by 2026”, a transformative goal that aims to redefine, elevate and position the company as a trailblazer in the industry. Sharing his thoughts on the company’s new ranking, Mr. Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance PLC, stated, "Our upward trajectory in the LMD 100 rankings reflects the collective efforts of our incredible team, the trust our customers have placed in us and our ability to adapt to the dynamic business landscape. At HNB Assurance, we remain committed to strengthening our core business, embracing innovation and delivering sustainable value to all our stakeholders.""As we step into 2025, it is inspiring to reflect on our journey so far. By the end of Q3 2024, we achieved growth that was well above the industry average, a remarkable feat we’ve consistently maintained since 2022. This success has been driven by the exceptional efforts of our sales force both from the Advisor Distribution and Partnerships channels, alongside the support of all our teams. I must also add that our vision for ‘10 in 2026’ is not merely a corporate milestone, it embodies our broader aspiration to transform lives, uplift communities and set new benchmarks in the industry. As the countdown to this goal continues, we will maintain our growth, while continuing to stive and create a lasting impact on the lives of our policyholders.” added, Mr. Wimalaratne.
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Nov
HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) continued to build on their impressive performance, recording strong financial growth and achieving impressive operational success during the third quarter of 2024. With a focus on innovation, customer-centricity and expanding their market presence, both companies for the nine months ending September 30, 2024, reported a Gross Written Premium (GWP) of LKR 16.6 billion, a 22% increase when compared to the same period last year. This growth was fueled by HNBA’s GWP of LKR 9.9 billion, reflecting a 27% increase, and HNBGI’s GWP of LKR 6.7 billion, marking a 14% increase. Additionally, the Group’s PAT saw a notable growth of 26%, rising from LKR 583 million to LKR 734 million when compared to the same period last year. These exceptional financial performances were further fortified by the affirmation of Insurer Financial Strength ratings of HNBA and HNBGI as ‘A-’ (lka) from Fitch, with a stable outlook."Our robust performance this quarter speaks to the strength of our team and the focus we’ve maintained in expanding our reach," commented Mr. Stuart Chapman, Chairman of HNBA and HNBGI. “The year 2024, we navigated with careful optimism, mindful of the elections and the unpredictability they could bring. Despite these uncertainties, our teams not only anticipated the challenges but surpassed expectations, achieving outstanding growth targets. The Group's GWP saw a substantial increase of 22% compared to the same period last year. Meanwhile, the Group’s Assets grew by almost 15%, rising to LKR 58.9 billion, during the first nine months. Additionally, our total equity touched LKR. 10.6 billion and our life fund reached LKR 37.6 billion, a noteworthy increase of 23%, during the first 03 quarters of the year. These achievements reflect our commitment to sustainable growth, positioning us strongly for the future as we continue to create value for our stakeholders.” Added, Mr. Chapman.“I am delighted to note that we have continued to maintain our remarkable financial performance during the third quarter and maintain our position as the only fitch A- rated life insurance provider in Sri Lanka.” Stated Mr. Lasitha Wimalaratne, CEO of HNB Assurance. “Our Gross Written Premium has grown by 27%, reaching LKR 9.9 billion from LKR 7.8 billion when compared to the same period last year. The company posted a 6% growth in profitability by recording Rs. 550 million as profit after tax. It must be noted that the company is yet to recognize surplus from the Life fund which will be at the end of the year. An achievement which highlights the success of our strategic focus in offering accessible and innovative insurance solutions that truly resonate with the needs of our customers, through collaborations and new partnerships.”For HNBGI, the Q3 performance highlights its proactive stance in navigating challenges while seizing growth opportunities. Mr. Sithumina Jayasundara, CEO of HNBGI, commented, “Our commitment to improved underwriting and efficient claims management has been instrumental to our success. We continue to make considerable strides in offering tailored insurance solutions that resonate with our clients, which has helped us achieve a GWP of LKR 6.7billion, a 14% increase when compared to the same period last year. Our business and efficiency improvements allowed us to increase our profit after tax threefold, to reach a 187% growth when compared to the same period last year. Notably, our focus on diversifying our portfolio beyond motor insurance has yielded significant growth, with our non-motor segment growing by 22% when compared to the same period last year. Within this category, we saw remarkable performances in marine, fire, and engineering insurance lines, which have grown by 121% and 27%, respectively, highlighting our proactive strategy to expand into areas of high demand.”
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Nov
HNB Assurance recently hosted its annual staff conference, bringing together team members from all over the island for a day of celebration, recognition and fellowship. It was a night to honor the amazing people who are at the heart of HNB Assurances’ incredible growth, with awards for long service, excellence and standout achievements.Among the highlights of the evening were the Long Service Awards, recognizing employees who have been part of the HNB Assurance family for over 15 years. The Chairman’s Award, the night’s top honor, went to those who have truly gone above and beyond in their roles. The In.she Woman Empowerment Award celebrated women making an impact and the CEO’s Special Recognition award acknowledged employees achieving outstanding milestones outside their day-to-day work, especially in the field of sports.HNB Assurance CEO, Mr. Lasitha Wimalaratne, sharing his views during the event, stated, “There’s no denying that our success as a company is built on the dedication, talent and heart of our team. It is no small feat that HNB Assurance has been growing at double the rate of the industry for the past three years. This growth is a testament to the efforts of our people who don’t just fulfill their roles but go above and beyond every single day, shaping the very future of HNB Assurance. What I find particularly inspiring is how our people have stepped up to meet every challenge and opportunity that has come with our rapid growth. I couldn’t be prouder of all our award recipients tonight, congratulations and thank you for your hard work.”Head of HR / AGM, Mr. Navin Rupasinghe, highlighted the significance of HNB Assurance’s achievements, stating, “This conference is about celebrating our people and recognizing the values that make HNB Assurance what it is. Every award recipient has contributed in their unique way, and they continue to inspire us all to reach new heights. Our theme this year alludes to challenges that enable us to grow. Hence, this event is a testament to how HNBA continues to embrace challenges, remain resilient and reach ambitious heights.”Additionally, he went on to emphasize the importance of HNBA’s culture and the accolades that reflect it “We are proud to have been recognized as a Great Place to Work this year, a Company with Great Managers, one of the Most Mom-Friendly Workplaces and the recipient of the SLITAD People Development Award. As we look to the future, we want every member of our team to feel inspired to take on new challenges and reach their fullest potential. Hence why this year’s conference theme is, “Challenging You to Grow”, because when our people grow, HNB Assurance grows.” Added, Mr. Rupasinghe.
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