HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) delivered a strong start for 2019, posting a Profit After Tax (PAT) of LKR 119 MN being in line with the business and profit forecast. In reviewing its performance, the Group recorded a Gross Written Premium (GWP) of LKR 2.5 BN against a GWP of LKR 2.2 BN recorded in 2018, depicting a growth of 14%. Sharing her views on the financial performance, Chairperson of HNBA and HNBGI Mrs. Rose Cooray stated “HNBA showcased a promising start for 2019 in topline growth and, despite the challenging external environment, steady improvement in the profitability of the group. Profits of Life Insurance segments grew by 10% excluding one-off items recorded the previous year, while the profitability of General Insurance segment grew by 11% compared to the same period of 2018. The Group is confident that they will be able to maintain this profits momentum and deliver attractive returns to the shareholders. The Group has also crafted for itself more ambitious strategies for the year for the Life and General Insurance businesses and the Group remains well focused on expanding its operations, accelerating innovative technologies and improving execution to create a meaningful difference”. Expressing his views, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated, “we got off to a positive start in 2019 and our teams have delivered affirmative results during the first quarter despite many challenging conditions. Collective efforts were made to deliver on our long term goals as well as to create value for all stakeholders”. Sharing his views on the financial performance, Mr. Lokuarachchi added, “the Life Insurance business showcased a steady and stable growth momentum, well over the consolidated growth achieved by the Life Insurance sector. Segments such as Motor and Fire of the General Insurance business depicted notable results amidst a challenging environment”. He further stated, “total assets of the Group surpassed LKR 23 BN and the investments in financial instruments reached a value of LKR 18.6 BN. The Life and General Insurance Funds reached values of LKR 12.8 BN and LKR 2.7 BN respectively. The Group is well positioned in its differentiated portfolios and the Management remains confident of the Group’s future outlook in seizing new opportunities and expanding its footprint”. HNB Assurance PLC (HNBA) is the one of the fastest growing Insurance Companies in Sri Lanka with a network of 59 branches. HNBA is a Life Insurance company with a rating of A (lka) by Fitch Ratings Lanka for “National Insurer Financial Strength Rating”. Following the introduction of the segregation rules by the Insurer Regulator, HNB General Insurance Limited (HNBGI) was created and commenced its operations in January 2015; HNBGI continues to specialize in motor, non-motor and Takaful insurance solutions and is a fully owned subsidiary of HNB Assurance PLC. HNBA is rated within the Top 100 Brands and Top 100 companies in Sri Lanka by LMD and HNB Assurance has won international awards for Brand Excellence, Digital Marketing and HR Excellence and also won many awards for its Annual Reports at the Award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka and SAFA (South Asian Federation Accountants).
Nov
HNB Assurance PLC has entered into a strategic partnership with Dialog Finance PLC, a pioneer in digital financial solutions, to further enhance its digital payment infrastructure and accelerate its journey towards achieving 100% digital premium collection.This collaboration marks a significant milestone in HNB Assurance’s digital transformation journey, reflecting the company’s continuous commitment to improving customer convenience, operational efficiency and financial inclusivity. By integrating Dialog Finance’s advanced Genie Business platform, which includes Payment Links and Internet Payment Gateway (IPG) services, HNB Assurance aims to streamline its premium collection process and redefine how customers interact with insurance services.Through these solutions, customers will now be able to make payments effortlessly and securely, either through personalized payment links shared by HNB Assurance or via secure online gateways. This eliminates the need for manual or in-person transactions, ensuring instant payment acknowledgments, and offers customers a faster, safer, and more convenient experience.This partnership leveraging innovation and technology not only strengthens the technological backbone of HNB Assurance’s payment ecosystem but also align with the company’s long-term vision of becoming a fully digital insurer, offering end-to-end solutions that meet the evolving needs of modern customers.
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Nov
HNB Assurance PLC (HNBA) has announced a strong financial performance for the nine months ended 30 September 2025, posting a 38% year-on-year growth in Life Insurance Gross Written Premium (GWP), which is the highest growth among life insurers in Sri Lanka. This exceptional performance underscores the company’s unshakeable tenacity for pushing the envelope of performance, disciplined execution, and unwavering commitment to providing protection and savings solutions that meet the evolving needs of Sri Lankan families. The Life Insurance business generated a Gross Written Premium of Rs. 13.74 billion for the period, compared to Rs. 9.97 billion in the corresponding period of 2024, reflecting a sharp increase of 38%. Total assets of the Company grew to Rs. 63.2 billion, up 18% from Rs. 53.4 billion a year earlier, while the Life Fund expanded by 24% to Rs. 47.4 billion from Rs. 38.3 billion in December 2024, signaling both strong topline growth and prudent fund management. Profit before tax excluding Life Surplus Transfer stood at Rs. 876 million, reflecting an increase of 13%, while profit after tax rose to Rs. 617 million, up 12% year-on-year. Meanwhile, Net claims and benefits incurred to policyholders during the period amounted to Rs. 3.25 billion, compared to Rs. 2.12 billion last year which is an impressive increase of 54%, reaffirming HNB Assurance’s steadfast commitment to fulfilling its obligations and supporting customers when it matters most. The Company’s investment portfolio also grew to Rs. 57.3 billion, compared to Rs. 48.5 billion a year earlier, delivering healthy investment income on account of strong yields from fixed-income securities and a diversified asset mix. Commenting on the company’s performance, Mr. Stuart Chapman, Chairman of HNB Assurance PLC and HNB General Insurance Limited, stated, “We are proud to see HNB Assurance deliver yet another quarter of exceptional growth, driven primarily by the strength of our Life business. This level of performance reflects the trust that customers have placed in our brand and the disciplined financial management that continues to underpin our long-term stability. At a Group level, we remain focused on sustainable growth and resilience, ensuring that we continue to generate consistent value for all stakeholders with GWP reaching Rs. 21.9 billion, up 32% from the corresponding period last year. ” Mr. Lasitha Wimalaratne, Executive Director and Chief Executive Officer of HNB Assurance PLC, added, “Our 38% growth in Life GWP represents one of the strongest performances in the industry and reflects the depth of our strategy in expanding customer reach and enhancing value. Our agency and bancassurance channels continue to deliver impressive traction, complemented by new product offerings that address real customer needs. We have also seen a notable increase in policy persistency, demonstrating customer confidence and satisfaction.” He further commented, “Our focus remains on balancing growth with financial prudence. The increase in our Life Fund, together with our strong solvency position and steady profit growth, reinforces our ability to deliver long-term security to policyholders. Claims payments have risen in line with our growing portfolio, which is a healthy indicator of our expanding customer base and our timely settlement culture. We are committed to maintaining this momentum through continued innovation, operational excellence, and a customer-first approach.”
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Nov
HNB Assurance PLC (HNBA) proudly celebrated its outstanding achievers who were recognized at the prestigious National Sales Awards 2025, organized by the Sri Lanka Institute of Marketing (SLIM). The event recognized the best sales professionals across industries, and the team from HNBA once again demonstrated their excellence and passion for performance.This year, five exceptional individuals brought pride to the organization by securing top honors in multiple categories. Dinushika Rathnayake was awarded Gold in the Front Liner category, while Priyanka Kamalani also claimed Gold in the Sales Supervisors category. Ravichandran Senthujan and Kethaki Anuradha both earned Bronze in the Territory Manager and Other Sales Support categories respectively, and Tharindu Munasinghe received a Merit Award in Sales Support (Manager & Above).Speaking on this remarkable achievement, Mr. Lasitha Wimalarathne, Executive Director / Chief Executive Officer of HNB Assurance PLC, stated, “Our people are the heart of our success. These awards are a true reflection of the dedication and spirit of excellence our sales teams embody every day. Competing on a national stage and emerging victorious is no small feat, it showcases not only individual brilliance but the collective strength of HNB Assurance as a performance-driven organization. I couldn’t be prouder of our team and I must also make mention of the incredible sales training team, who work tirelessly behind the scenes to ensure that our sales force is equipped with the tools, skills and knowledge to perform to the best of their ability.”The National Sales Awards remains one of the most respected platforms in Sri Lanka that recognizes sales excellence, rewarding individuals who deliver exceptional results and elevate industry standards.
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