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.
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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