HNB Assurance and HNB General Insurance recently held a workshop partnering Mr. Ravi Abeysuriya, CFA to present and distribute his latest book, "Financial Literacy - to achieve your financial wellbeing." This collaboration aims to promote financial literacy and empower individuals to make informed financial decisions to secure a prosperous future. Mr. Ravi Abeysuriya, a Non-executive / Independent Director of the HNB Assurance PLC board, is a veteran in the field of Banking and Finance. He Chairs and presides on the boards and committees of multiple organizations and was honorably named “Lifetime Achievement” award laureate by CFA Institute, USA in 2017 for his outstanding work and dedication to the investment management profession. Sharing his thoughts at the presentation and distribution event of his book, he opined, "Firstly, I’d like to extend my heartfelt gratitude to the Management of HNBA and HNBGI for their invaluable partnership in propagating this message of financial literacy, empowering a wider audience to shape their financial destinies.” Sri Lanka has the highest gap between print literacy and financial literacy in the region. On Average, 65% of the adults in advanced economies are financially literate. South Asia records the lowest percentage of financial literacy, with Sri Lanka coming in at about 35%. "Numerous studies have indicated that insurance penetration is among the most reliable indicators of financial literacy in any society. Unfortunately, Sri Lanka currently exhibits a penetration of less than 2%, reflecting a significant disparity in comparison to the global average," highlighted Mr. Abeysuriya, shedding light on the prevailing situation in Sri Lanka. While encouraging the participants to read and understand the book “Financial Literacy - to achieve your financial wellbeing," Mr. Abeysuriya emphasized the importance of equipping oneself with the knowledge and skills contained within the book to make informed and pertinent financial decisions. "Comprehending how money works and effectively managing personal finances are crucial steps toward attaining financial stability. Budgeting, planning, investing, asset accumulation and managing borrowings are practices adopted by successful organizations. Similarly, it is important that we apply these skills to our personal lives as well, equipping ourselves with the necessary knowledge and empowering ourselves to make sound financial decisions based on our current financial needs.” The presentation and distribution event was graced by esteemed guests including the Chairman, Director General and other members of the Insurance Regulatory Commission of Sri Lanka (IRCSL), the CEO of Chartered Financial Analysts (CFA) along with the Chairperson, CEOs and Senior Management and members of the advisory teams from both HNBA and HNBGI. The Chief guest of the event Mr. Razik Zarook PC, Chairman of the IRCSL sharing his views at the event stated, "I am deeply honored to be a part of this significant and momentous occasion today. The principles of financial management, articulated in the 'Sigalovada Sutta' of the Digha Nikaya almost 2500 years ago continue to hold relevance even in today's complex economic landscape. I can’t think of a better way to create awareness among people than going back to the words of the Exalted one, the principles of whom, I’m certain this book encapsulates.”
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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Oct
HNB Assurance PLC is pleased to announce the appointment of Poornima Ranawaka as Non-Independent Non-Executive Director to its Board with effect from 01 October 2025.Poornima Ranawaka is a distinguished Attorney-at-Law with nearly 19 years of legal practice and more than 22 years of experience across the banking, Insurance, finance, and education sectors. She holds extensive expertise in litigation, risk management, regulatory compliance, human resources, and recoveries. Over the years, she has held several senior leadership positions, including Deputy General Manager – Compliance and Legal at Axis Bank Sri Lanka, Head of Compliance at Pan Asia Banking Corporation and Allianz Insurance Lanka Limited, and Consumer Litigation Manager at Nations Trust Bank PLC.She has been a trailblazer in her field, serving as Vice President and General Secretary of the Association of Compliance Officers of Banks, an Executive Member of the Risk Professionals Association, and a member of Sri Lanka's FATCA advisory committee. She also represented the country during the Financial Action Task Force (FATF) evaluation in 2013. She is currently the General Secretary of the Alumni Association of Sri Lanka Law College.She holds prestigious academic and professional qualifications, including First Class Honours from Sri Lanka Law College and an LL.M. in International Trade Law from the University of Wales. She has also completed a postgraduate diploma in International Compliance from the University of Manchester. Additionally, she is an Associate Member of the International Compliance Association (UK). Her contributions to the field have earned her honorary professorships in Law Teaching from IEMS, India (ACTD, USA).Mrs. Ranawaka has fulfilled the requirements for her PhD in Management at Management and Science University (MSU), Malaysia, and is currently awaiting her convocation. She is deeply committed to education, served as a Commercial Law lecturer and the Chief Examiner at Sri Lanka Law College. In addition, she served as the Chairperson of the Curriculum Development Committee at Sri Lanka Law College from 2022 to 2024, playing a pivotal role in shaping and enhancing the institution's academic framework. Her outstanding contributions to legal education were internationally recognized when she was awarded the prestigious International Achievers Award 2024 in India for her "Most Iconic Role in Law Teaching.
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