HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) recorded a Gross Written Premium (GWP) of LKR 7.4 Bn depicting a steady growth of 31% during H1 of 2022.
Expressing her views on the financial performance of the Group, Chairperson of HNBA and HNBGI, Mrs. Rose Cooray stated, “It is indeed a great pleasure to announce that the HNB Assurance Group has achieved a 31% growth in GWP compared to the corresponding period of the previous year. In reviewing the performance of each business, the Life Insurance Company recorded a GWP of LKR 4.3 Bn showcasing a growth of 37% and the General Insurance business recorded a GWP of 3.3 Bn, depicting a growth of 23%. These significant results were recorded amidst a number of unprecedented economic and social challenges in the country. However, the resilience of our core business model and focus on capturing market segments with growth potential has led to yield these significant results. The commitment and dedication of the Management and staff members of HNBA and HNBGI coupled with the solid business strategies will surely take the HNBA Group to new heights.”
Mr. Lasitha Wimalaratne, Chief Executive Officer of HNB Assurance PLC. expressed his views stating, “I am delighted to share the impressive growth we have achieved despite the challenging market conditions and economic turbulence. During the first half of 2022 HNBA had a growth of 37%, recording the highest growth rate amongst the Top 10 Life Insurance Companies in Sri Lanka. This is a truly commendable achievement since we stand ahead of the industry growth rate of 18%. The Company’s Life Insurance Fund stands at LKR 22.6 Bn at the end of H1 of 2022 whilst the Capital Adequacy Ratio (CAR) of HNBA stood at 320%. This further reaffirms the Company’s financial stability as the CAR is well above the minimum stipulated rate of 120% as directed by the Regulator. Keeping to our promise towards our valued policyholders, HNBA settled Insurance Benefits and Claims amounting to LKR 1 Bn. These results are a depiction of our well-focused strategies, growth initiatives and synergy of all teams involved. The Management of HNBA remains confident of its competitive advantage and strong financial footing and is focused on what is ahead and seizing every opportunity to expand its footprint in the market.”Mr. Sithumina Jayasundara, Chief Executive Officer of HNB General Insurance Limited commenting on the progressive growth stated that “During this challenging period that we are facing as a country and as an industry as a whole, HNBGI was able to maintain a steady financial growth capitalizing on its service and operational excellence. HNBGI recorded a GWP of LKR 3.3 Bn with a growth of 23%. During the period the Company settled Insurance Benefits and Claims amounting to over LKR 1.6 Bn showcasing a steady commitment to our valuable customers. Demonstrating the Company’s strong financial strength, the Capital Adequacy Ratio (CAR) of HNBGI stood at 235%, which is well above the regulatory requirement. HNBGI was adjudged the Best Insurance Company Claims Management Team - Sri Lanka 2022 by Global Banking and Finance Review and also as the Best General Insurance Company of the Year - Special Recognition Award at the recently held 3rd ICC Emerging Asia Insurance Awards 2021. Our team is set to continue its journey with a positive note capturing every growth opportunity in the market moving forward.”
HNB Assurance PLC (HNBA) is a leading Life Insurance Company in Sri Lanka with a network of 64 branches. HNBA has been assigned a rating of ‘A+’ (lka) by Fitch Ratings Lanka for 'National Insurer Financial Strength Rating'. Following the introduction of the segregation rules by the Insurance 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. HNB General Insurance has been assigned a 'National Insurer Financial Strength Rating' of ‘A+’ (lka) by Fitch Ratings Lanka Limited. HNBA is rated within the Top 100 brands and Top 100 companies in Sri Lanka by LMD and has won international awards for Brand Excellence, Digital Marketing and HR Excellence including the Great Place To Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.
Sep
Breaking boundaries in brand storytelling, HNB Assurance proudly bagged a Silver at the Dragons of Sri Lanka 2025 Awards for its Virtual Avurudu Village campaign under the Digital Category. This innovative initiative redefined how traditions can meet technology, turning a beloved cultural festival into an immersive digital experience that struck a chord with a new generation of audiences.Commenting on this achievement, Lasitha Wimalarathne, Executive Director / CEO of HNB Assurance, stated, “We are very pleased to receive this Silver Dragon for our Virtual Avurudu Village campaign. At HNB Assurance, we believe in constantly exploring new and innovative ways to connect with people and this campaign was a perfect example of that. By reimagining a traditional celebration in a virtual format, we were able to create an engaging experience that resonated strongly with both younger and wider audiences. My sincere thanks and heartfelt congratulations to all the teams involved in designing and delivering this campaign.”Sharing his thoughts, Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer/ General Manager of HNB Assurance, added, “Winning a Silver Dragon this year reinforces the importance of evolving our communication strategies to keep pace with consumer trends. With Virtual Avurudu Village, we not only embraced innovation but also stayed true to our cultural roots by bringing Avurudu festivities to a digital platform. This enabled us to create a unique blend of tradition and technology, opening the door to new audiences while strengthening brand affinity. I’d also like to extend my gratitude to our digital partner, Kites Global, for their contribution in bringing this idea to life.”
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Sep
HNB Assurance PLC once again marked a historic milestone by hosting its Partnership Awards 2025 on an international stage for the second consecutive year. Held at the prestigious Royal Signature Hotel, Kuala Lumpur, the gala event welcomed guests from HNB, HNB Assurance staff, Bancassurance Officers and their families, to celebrate the remarkable achievements of the company’s partnership channel.The Partnership Awards, a flagship annual event for HNB Assurance, serves as a platform to honor and recognize the exceptional contributions of its partnership channel, which continues to play a pivotal role in driving the company’s growth. Following the success of last year’s international debut in Thailand, this year’s event in Malaysia further signifies the company’s expanding vision and growth momentum.Addressing the gathering, Mr. Lasitha Wimalarathne, Executive Director / CEO of HNB Assurance, expressed his thoughts, stating, “This is truly a special occasion as we bring together our teams here in Malaysia to celebrate the achievements of our partnership channel. Over the years, this channel has grown into one of our strongest pillars, contributing significantly to our Gross Written Premiums and overall success. These milestones are a direct reflection of the commitment, innovation and customer-centric mindset that define our people. As we celebrate tonight, I encourage all of you to continue pushing boundaries and setting new standards in the industry. Congratulations to all the award winners and a heartfelt thank you to everyone who made this gala event a reality.”The past year has been one of exceptional achievements for HNB Assurance’s partnership channel, which continues to set benchmarks in the industry. With an ever-growing pool of top performers, the team recorded a remarkable number of MDRT qualifiers, along with highest ever COTs and TOTs. HNB Assurance also maintained its position as Sri Lanka’s Best Life Bancassurance Provider, a recognition earned for the fifth consecutive year by the Global Banking and Finance Review.Reflecting on the significance of the event, Mr. Sanesh Fernando, Chief Business Officer / General Manager – Partnerships, shared, “The Partnership Awards are not just about celebrating numbers, they are about celebrating our people, the heart and soul of our success. To witness the growth and accomplishments of our Bancassurance Officers year after year has been truly inspiring. Hosting our gala in Malaysia this year is a reflection of how far we have come, and I firmly believe the best is still ahead of us. I want to extend my sincere thanks to everyone in our partnership network. With the guidance of our parent company, Hatton National Bank, and the continued support of our partner banks, financial institutions, and broker network, we are confident of reaching even greater achievements in the years ahead.”
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Sep
HNB Assurance PLC (HNBA) proudly joins hands with the rest of the industry to mark Insurance Month 2025, reaffirming its commitment to safeguarding the dreams, aspirations and financial security of Sri Lankans across the nation.In recent years, HNB Assurance has emerged as one of the most dynamic players in the sector, consistently delivering growth while earning the trust of its policyholders. Guided by a customer-first philosophy, the company has expanded its reach, refined its service delivery, and invested in technology to ensure protection remains accessible and relevant in today’s fast-changing world.Sharing his thoughts on the significance of Insurance Month, Mr. Lasitha Wimalaratne, Executive Director / CEO of HNB Assurance, stated, “Insurance Month is more than a celebration, it is a reminder of the vital role our industry plays in strengthening the resilience of individuals, families, and businesses. At HNB Assurance, we remain dedicated to deepening trust, driving awareness and creating value for our stakeholders through innovative solutions and a strong service ethos.”In terms of providing innovative solutions, HNB Assurance has been at the forefront of product innovation, introducing solutions tailored to evolving customer needs. Among its recent additions are Family Guard and Privileged Fast.“Our product philosophy has always been centered on people, their aspirations, their concerns and future. By continuously listening to our customers and understanding their requirements, we are able to create solutions that not only safeguard them from risk but also empower them to live with confidence.”, added, Mr. Wimalaratne.This year’s celebrations also come on the back of multiple recognitions for HNB Assurance, including being named the Best Life Insurance Company by Global Brands Magazine UK, winning the Life Insurance Sector Award at the National Business Excellence Awards, being recognized as the Best Life Bancassurance Provider, receiving the Great Place to Work Certification and being honored as one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces. Collectively, these accolades not only highlight the trust and confidence placed in HNB Assurance but also serves as a testament to the way the company continues to celebrate its people, its customers and its journey forward.As the company looks ahead, it remains committed to advancing the industry through customer-centric innovation, meaningful partnerships and sustainable practices. With Insurance Month serving as a platform to raise awareness and celebrate achievements, HNB Assurance continues to stand as a trusted partner in protection for all Sri Lankans.
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