HNB Assurance PLC (HNBA) proudly joins the Insurance Month celebrations with a renewed pledge to safeguard the financial well-being and aspirations of all Sri Lankans. Despite being a relatively young company, HNB Assurance has shown remarkable growth over the years, especially the past three years, earning the trust and confidence of its policyholders.
From health to home, travel to trade, savings to investments, HNB Assurance as a group as well as a standalone Life Insurance company has developed products which not only covers potential risks but also adapt to the ever-changing landscape, ensuring that every policyholder receives the protection they require.
Sri Lanka has significant potential for increased insurance penetration when compared to its neighboring countries, as many citizens are yet to fully grasp the long-term benefits of insurance.
Mr. Lasitha Wimalaratne, CEO of HNB Assurance, sharing his thoughts on the importance of Insurance Month and the company's vision for the future, stated, “Insurance Month is an opportunity for us to come together as an industry and reaffirm our commitment of the valuable service we provide. I truly believe that Life Insurance companies, including HNB Assurance, have a pivotal role to play in bridging this gap.”
Over the years, HNB Assurance has focused on increasing awareness and accessibility with the aim of making a meaningful impact on the lives of Sri Lankans and also contributed to the nation's progress even by supporting SMEs and other businesses.
“By embracing new distribution channels, entering into mutual beneficial partnerships and leveraging technology, we have significantly expanded our reach and improved service delivery,” Mr. Wimalaratne added. “Our commitment to innovation is driven by our desire to better serve our customers and to be at the forefront of the industry. We believe that by utilizing data and advanced analytics, we can offer personalized solutions that accurately identify and evaluates risks, providing our customers with the best possible protection. This customer-centric approach not only enhances customer satisfaction but also strengthens the overall resilience and growth of our community. As we look ahead, I for one am excited about the future of the insurance industry in terms of making a positive impact on the lives of all Sri Lankans”
In terms of its financial performance during the first half of 2024, HNB Assurance has maintained a growth well ahead of the industry average, achieving a total Gross Written Premium (GWP) of LKR 6.4 Bn, representing a 24% increase compared to the same period last year. The company’s life fund also grew significantly, rising from LKR 30.6 Bn to LKR 35.2 Bn. The company also paid out a total of LKR 1.5 Bn in maturities and claims. Furthermore, new business premium saw an increase of 39%, while long-term endowment grew by 24%. HNB Assurance's total assets have now reached LKR 47.6 Bn, showcasing its strong financial performance and commitment to securing the future of its policyholders.
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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Oct
HNB Assurance PLC proudly introduces HANA, HNB Assurance Next-Generation Assistant, novel AI-powered chatbot designed to transform how customers connect with them. Developed as part of HNB Assurance’s drive to embrace cutting-edge technology and reimagine customer service, HANA delivers instant, 24/7 assistance, making insurance simpler, faster and more intuitive for every policyholder. From policy inquiries to claims guidance and company updates, HANA offers seamless, personalized interactions that remove the need for wait times on calls or branch visits.Speaking on the launch, Lasitha Wimalaratne, Executive Director and CEO of HNB Assurance PLC, said, “At HNB Assurance, our priority has always been to place the customer at the heart of everything we do. With HANA, we are taking that promise to a new level by introducing a virtual assistant who is always available, always informed and always ready to help. This is not just a launch, it is a reflection of the significant investments and digital roadmap we have developed over the past few years to leverage technology in making insurance easier and more accessible to meet the evolving needs of our customers. My sincere thanks and congratulations to all the teams involved in making this milestone a reality and elevating the way we serve our customers.”Highlighting the vision behind HANA, Suneth Jayamanne, Chief Information Officer / General Manager of HNB Assurance, stated, “Implementing HANA is more than deploying a chatbot, it is about embedding intelligence into every interaction. Powered by advanced natural language processing (NLP), machine learning algorithms and deep integration with our core systems, HANA is designed to handle complex queries, learn from vast datasets, and deliver responses with human-like understanding. We certainly believe that his launch is an exciting first step in our broader strategy of using AI to create meaningful, customer-centric experiences. I would also like to extend my sincere appreciation to CodeGen International (Private) Limited for their invaluable contribution in turning this vision into reality.”As one of Sri Lanka’s leading life insurers, HNB Assurance continues to invest in new digital capabilities that deliver convenience and confidence, allowing customers to engage with the company on their own terms. Customers can now meet, experience and explorer HANA by accessing the website, www.HNBAssurance.com.
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Oct
HNB Assurance PLC (HNBA) recorded outstanding success of its sales team at the Life Industry Sales Competition held during the NAFLIA Conference, where the Company secured eleven prestigious accolades across both the Advisor Channel and the Partnership Channel. Demonstrating exceptional performance and commitment, the winners from HNBA delivered outstanding performances at a national level, showcasing the strength of the organizationThe accolades spanned a diverse range of categories including Fast Starters, Advisors, Supervisors and Bancassurance Officers, reflecting the collective strength and capability of HNBA’s sales force.Among the winners, Ms. Gammeda Liyanage Deepa Shamalie was recognized as Best Advisor – Silver, while Mr. Anjula Prasath Thilakarathne earned the Best Advisor – Bronze award. In the Bancassurance category, Ms. Dinushika Ratnayake was awarded Best Bancassurance Officer – Silver, and Mr. J. I. M. Fernando secured the Best Bancassurance Officer – Bronze.In the supervisory categories, Mr. P. J. K. K. Jayarathne distinguished himself by winning the Best Supervisor – Gold, while Mr. Alan Baker, Regional Partnership Head – Northern Region, was honored with the Best Supervisor – Bronze award.HNBA’s Bancassurance Fast Starters also made their mark at a national level, with Ms. V. Kirushalini achieving Gold, Ms. Lakmali Pusalle securing Silver, and Ms. Thilini Lakmali being recognized with Bronze.In the Advisor Fast Starter category, Ms. Bhagya Sewwandi triumphed with the Gold Award, while Ms. Anoma Kumari followed with the Silver Award, completing a remarkable sweep across the board.This remarkable accomplishment is a testament to the success of HNB Assurance’s sales force, whose consistent efforts continue to uplift the Company’s standing in the insurance industry. The recognition gained at the Life Industry Sales Competition not only celebrates individual achievement but also underscores the organization’s commitment to nurturing talent and driving excellence across all levels of its operations.
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