HNB Assurance PLC is pleased to announce the appointment of Mr. Lakshman Silva and Dr. Sankalpa Gamwarige as Independent Non-Executive Directors to its Board with effect from 1 January 2024.
Mr. Lakshman Silva is the former CEO/Director of DFCC Bank PLC. He started his professional career at the Department of Inland Revenue of Sri Lanka and joined the DFCC Banking Group in 1987. He was seconded to the service of DFCC Vardhana Bank in 2003 and functioned as Chief Operating Officer until his appointment as CEO/Executive Director in January 2010. Held the position of Deputy CEO /Director of DFCC Bank PLC from October 2015 and was appointed as CEO /Director in August 2017.
Until his retirement in December 2021, he was Chairman of DFCC Consulting Ltd., Lanka Industrial Estates Ltd., and Synapsys Ltd. (subsidiary companies of DFCC Bank PLC) as well as the Chairman of Lanka Financial Services Bureau Ltd. and Sri Lanka Banks' Association (Guarantee) Ltd. He also held the position of Chairman of Acuity Partners Ltd., the joint venture company of DFCC Bank PLC. In addition, he was Chairman/Director of Lanka Ventures Ltd., LVL Energy Fund PLC and Director LankaClear Ltd.
Silva was a member of the Board of Directors of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), and Board of Management of the Sri Lanka Sustainable Energy Authority.
At present he serves as an Independent Director at Seylan Bank PLC, Independent Director of Finetech Consultancy Ltd, while serving as Chairman and Director of Panasian Power PLC and its subsidiary companies. He also serves as Member of the Stakeholder Engagement Committee of the Central Bank of Sri Lanka. Silva is a past President of the Association of Professional Bankers of Sri Lanka. He holds a BCom (Sp.) from the Kelaniya University and an MBA from the Postgraduate Institute of Management of the Sri Jayewardenepura University. He is an Associate Member of the Association of Development Financial Institutions of Asia and the Pacific (ADFIAP).
Dr. Sankalpa Gamwarige, PhD is an Innovative Digital Transformational specialist and Tech Talent Enabler with a 20+ year Digital Product Engineering and Electronics Engineering background. He is a member of Global Leadership team of Nagarro, a Digital Product Engineering Company Listed at the Frankfurt Stock Exchange, with a global team of over 19,000 Digital Specialists across 35 different countries.
Prior to joining Nagarro, he was General Manager and Vice President of Engineering at Zone 24x7 a family-owned Digital Product Company with Operations in USA, UK, Malaysia and Sri Lanka. During his 16 years of Engineering Leadership career at Zone24x7, he led the teams towards: overall winner of the National Best Quality Software Award (NBQSA) 2015, winner of R&D category at Asia Pacific ICT Alliance (APICTA) Awards 2015, Presidential Awards for the highest Value-Added Exporter of the Hi-tech/Innovative Sector 2014, 2015 and 2016. Sankalpa has contributed many US Patents filed and owned by Zone24x7. Further, the academic papers published by him based on his PhD research have been extensively cited.
Sankalpa has voluntarily contributed to many national initiatives and forums including SLASSCOM, TRACE, National Innovation Agency (NIA), National Science Foundation (NSF), Export Development Board (EDB), Sri Lanka Institute of Biotechnology (SLIBTEC) and Ceylon Chamber of Commerce (CCC), serving in various capacities such as Advisory and Board level. In addition, he is/was a member of the Board of Studies - Faculty of Graduate Studies and Academic Committee of BIT external degree program – Faculty of IT, Moratuwa University.
Jun
HNB Assurance Group (HNB Assurance and HNB General Insurance) delivered an outstanding performance in the first quarter of 2025, continuing its growth momentum and building on the success achieved in the previous year. The Group reported LKR 8 billion in GWP (Gross Written Premium): a 30% increase when compared to the same period last year and paid LKR 1.7 billion in Net Insurance Benefits and Claims during the first three months of 2025.“Our focus has always been simple, grow our reach and give more value to our customers,” stated Mr. Stuart Chapman, Chairman of HNB Assurance and HNB General Insurance. “We have seen this approach really work for us, helping us stay competitive and continue the incredible growth we have maintained over the past several years. Whilst the Group’s GWP grew by an impressive 30%, the bottom line too grew by 28% to surpass the LKR 300 million mark during the period under review. Total Assets increased by LKR 5.7 billion, bringing the total assets of the group to LKR 68.1 billion. In addition, the group’s Financial Investments rose by LKR 3 billion during the period under review. This steady and consistent progress across the board indicates we are on the right track and on a good trajectory for the years to come. Commenting on the company’s Q1 performance, HNB Assurance CEO Mr. Lasitha Wimalaratne acknowledged the team's hard work and strategic focus that contributed to these positive results. “Our Life Insurance business has continued its upward momentum, posting a Gross Written Premium of LKR 4.5 billion, a 36% increase compared to the same period last year. We are also proud to have grown our New Business Premiums by 37% and to have seen a 34% increase in long-term Endowment policies, when compared to last year.” He further highlighted the growth of the Life Insurance Fund, which surpassed LKR 41 billion in Q1, increasing by over LKR 3 billion within the quarter. Looking ahead, Mr. Wimalaratne emphasized the company’s readiness for upcoming regulatory and technological advancements. “As we gear up for the implementation of SLFRS 17 and continue to roll out our digital initiatives, we are positioning ourselves to deliver even better service to our customers while unlocking new growth opportunities.”Mr. Sithumina Jayasundara, Chief Executive Officer of HNB General Insurance, shared his thoughts on the HNBGI’s performance. “The first quarter plays a pivotal role in shaping our momentum for the year, and I’m pleased to share that we have had a strong start, where we achieved the highest growth amongst the top 10 General Insurance companies, reaching a market share of 9.1%. Our Gross Written Premium reached LKR 3.6 billion, reflecting a 23% increase against an industry growth of 2% when compared to the same period last year. While the industry showed a degrowth in the non-motor segment, we delivered a remarkable 43% upthrust, reaching LKR 2.3 billion. On the financial front, we are pleased to report that our total assets have grown to LKR 11.9 billion, a clear reflection of our sustained financial stability and prudent management. During the same period, we paid over LKR 950 million in claims, standing by our customers when they need us the most. Despite the challenging external environment, we also recorded a 12% increase in profits, an encouraging sign that our strategies are delivering results. Looking ahead, now that vehicle imports are allowed, we see new opportunities for growth in the motor segment as well and with the progress we have made so far in other segments, we are confident that there's a lot to look forward to in the future.”
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May
HNB Assurance PLC (HNBA) has once again reaffirmed its industry leadership in Bancassurance by securing the title of "Best Life Bancassurance Provider in Sri Lanka" for the fifth consecutive year, awarded by the prestigious Global Banking and Finance Review – UK. Mr. Lasitha Wimalaratne, Chief Executive Officer of HNB Assurance, expressed his thoughts on this milestone, stating, “Being named the Best Life Bancassurance Provider in Sri Lanka for the fifth year in a row is not just an honor, it is a reflection of the enduring partnerships we have built especially with our parent company Hatton National Bank along with the passion of our teams. This accolade speaks volumes of our consistent efforts to elevate standards in bancassurance. Our teams continue to innovate, collaborate and break boundaries to deliver meaningful solutions to our customers. I’d like to extend my sincere thanks to the management of Hatton National Bank and our other partners for their continued guidance and support.”Highlighting the pivotal role of the Partnership Channel, Mr. Wimalaratne further added,“As we accelerate towards our goal of capturing a 10% market share, the Partnership Channel remains central to our growth strategy. Congratulations to the teams involved, I am immensely proud of what we have accomplished and am excited about the journey ahead.”Mr. Supun Dias, Senior Vice President - Network Management at Hatton National Bank, congratulated the team at HNBA, stating, “To witness HNBA win this prestigious title for five consecutive years is truly inspiring. It is a testament to the strength and synergy of our long-standing partnership. As a Group, we are committed to driving innovation and delivering superior value to our clients. Congratulations to HNBA and everyone involved in achieving this exceptional feat.”Also sharing his thoughts, Mr. Sanesh Fernando, Chief Business Officer – Partnerships at HNB Assurance, remarked, “This milestone is the direct result of the dedication our teams and tireless efforts they have made to deliver value to our policyholders. The Partnerships team at HNBA, together with our banking partners, especially Hatton National Bank, have been instrumental in shaping this success story. I’d like to extend my sincere appreciation to the HNB Branch Management, HNB Bank Network Management along our valued customers for their trust placed on us. This fifth win reinforces our drive to deliver excellence and as we move forward we will continue to strive to reach even greater heights.
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May
Strengthening its footprint across Sri Lanka, HNB Assurance PLC officially opened its newest branch in Jaffna, located at No. 521, Point Pedro Road, Nallur. With this addition, the company now operates 11 branches in the North emphasizing the company’s ongoing efforts to bring its life insurance solutions closer to communities in the Northern Province, making protection and financial planning more accessible than ever before. The new Jaffna branch will serve as a hub for customers in the region, delivering personalized insurance services with the hallmark trust, care and professionalism the company is known for.Speaking at the branch opening, Mr. Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance PLC, stated, “We are indeed excited to further strengthen our footprint in the Northern Province with the opening of this new branch in Jaffna. With multiple touchpoints already established in the region, our growing presence allows us to better serve the evolving needs of our customers and create even closer relationships with the communities we operate in. We remain dedicated to being a trusted partner in their journey towards a more secure and resilient future.”Sharing similar sentiments, Mr. Harindra Ramasinghe, Chief Business Officer – Advisor Distribution Channel of HNB Assurance PLC, commented, “With the opening of our newest branch in Jaffna, we now operate over 70 physical branches across the island and with this new branch opening we have reaffirmed our belief in the strategic importance of the Northern Province to our growth journey. We have always recognized Jaffna as a key region with immense potential and we are proud to strengthen our connection with its people. My sincere thanks to the Distribution Management team and all the other support teams for their efforts in helping us open this branch.”The newly inaugurated Jaffna branch is now open to serve customers from Monday to Friday, offering expert guidance and tailored life insurance solutions to meet diverse needs.
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