Celebrating 20 years of excellence, 20 years of protection, 20 years of friendship and 20 years of stories, HNB Assurance PLC (HNBA) announced the launch of a grand raffle draw for its existing as well as new policyholders. The draw would raffle out valuable gifts worth of Rs. 5 Million, including 20 gold coins as grand prizes. Sharing his views, Chief Executive Officer of HNBA and its fully owned subsidiary, HNB General Insurance Limited (HNBGI), Mr. Prasantha Ferando stated, “As HNB Assurance PLC prepares to celebrate its 20th Anniversary this month, we thought it fit that we give something extra by way of a raffle draw to our existing and new customers in appreciation of their patronage. Our 20-year journey of taking care of you, your loved ones and our community has been a memorable and a rewarding one, and every stakeholder has been an important part in our 20-year journey. As we prepare to celebrate this significant milestone, on behalf of the Management of HNBA and HNBGI, I wish to extend my sincere gratitude to all our policyholders for believing and trusting in us and for journeying with us for the past 20 years. Both HNBA and HNBGI are built on strong fundamentals, focusing on consolidated growth; this fact has been reaffirmed by Fitch as well in them upgrading the ‘National Insurer Financial Strength Rating’ of both companies to A+ recently. Therefore, I invite everyone to join us as we grow from strength to strength and allow us to secure your future for you”. Chief Operating Officer of HNBA, Mr. Lasitha Wimalaratne shared his thoughts stating, “We are delighted to announce the launch of a grand raffle draw in celebration of our 20th Year Anniversary. As this celebration marks two decades of assured protection and cherished relationships, we have decided to give away fabulous prizes to our existing and new policyholders. As such, every policy obtained between 1st August to 31st December, 2021 (except single premium policies) with a monthly premium of Rs. 5,000/- or more or an annual premium of Rs. 60,000/- or more and active as at 31st December, 2021 would be eligible for this grand raffle draw. Those policies obtained prior to 1st August, 2021 and active as at 31st December, 2021, irrespective of the premium value would qualify for the draw. This prize draw would raffle out a total of 120 gifts including 20 gold coins, each worth of Rs. 100,000/-. In addition, policyholders could be eligible to win 100 gift vouchers for home appliances worth of Rs. 50,000/-, Rs. 35,000/-, Rs. 25,000/, Rs. 20,000/- and Rs. 15,000/-. More details regarding this draw could be obtained from your nearest HNBA Branch, HNBA Insurance Advisor or HNBA Bancassurance Officer”. Mr. Wimalaratne further stated, “During the past 20 years, HNBA has had a stable and continuous growth becoming one of the top Life Insurance service providers in the country, offering innovate solutions to suit every need in life. Our journey of 20 years has been truly rewarding, and together we’ve surpassed many milestones. Whilst thanking our stakeholders for placing their trust in us, I wish to reiterate that HNBA will continue to strive for greater excellence”. HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 63 branches. HNBA is a Life Insurance company with 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 HNB Assurance 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.
Apr
HNB Assurance PLC (HNBA) has once again been recognized as a ‘Company with Great Managers’ for the third consecutive year. The recognition was awarded at the prestigious Great Manager Awards 2024, organized by the Colombo Leadership Academy.This year, seven exceptional Managers from HNB Assurance were honored with individual Great Manager Awards for their exemplary leadership and impactful contributions. The winners are Deepal Punchihewa (SBU Head), Rukshan Wijesinghe (Senior Manager – Underwriting - Group Life & DTA), Niranjan Croos (Senior Manager – Customer Experience), D. P. S. Anuranga Peiris (Software Architect), Asanka Gonagala (Manager – Alternate Channels, Vinu Jayasuriya (Senior Manager – Finance) and Amaz Irshad (Senior Manager – Marketing, Digital and PR). A recognition which reflects the company’s strong leadership framework and its ongoing commitment to developing future-ready leaders who drive innovation and performance across every division of the business.Speaking on this remarkable achievement, Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance PLC, stated, “There’s no doubt that great companies are built by great leaders. Being recognized for the third consecutive year as a company with Great Managers is not just a milestone, it is a reflection of our continued investment in our people. I’m extremely proud of this recognition as it shines a spotlight on the caliber of leadership within HNBA. Congratulations to all our award-winning Managers who consistently go above and beyond to inspire, engage and drive performance, also, a huge thank you to the Colombo Leadership Academy for this recognition.”Navin Rupasinghe, Head of Human Resources at HNB Assurance, also sharing his thoughts on the award, stated, “At HNBA, we’ve built a culture where people are empowered to lead with purpose and passion. This award is a reflection of our deliberate efforts to nurture talent, invest in learning, and promote a growth mindset at every level of the organization. We are incredibly proud of our managers who embody these values every day. I’d like to take a moment to thank the Colombo Leadership Academy for this wonderful recognition and convey by best wishes to all individual Managers on their recognition, as this achievement is a proud moment for the entire HNBA family.”
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Apr
HNB Assurance PLC (HNBA) delivered another year of outstanding financial performance, securing a 7.5% market share and moving a step closer to achieving its ambitious target of 10% market share by 2026. This success was a result of the company’s well-structured strategies, focused on sustainable growth in an increasingly competitive landscape, which yielded impressive results, with its Gross Written Premium (GWP) growing by 26% compared to the previous year.Over the past four years, HNBA has maintained an average growth rate of 26%, consistently outperforming the industry. A key element of HNBA’s approach has been prioritizing distinctive, value-driven products over high-volume, lower-margin offerings. This strategy has allowed the company to cater to a broader customer base, ensuring inclusivity while maintaining the competitiveness and relevance of its product portfolioIn terms of growth, HNBA’s proactive investment strategy resulted in an 8% growth in investment income, reaching Rs. 6.9 Bn, while Funds Under Management saw a 26% increase. HNBA paid net benefits and claims totaling Rs. 2.9 Bn. The total assets of the company expanded by 24% to Rs. 53.4 Bn, primarily driven by increased financial investments. Additionally, total Life Insurance contract liabilities grew by 25% to Rs. 38.6 Bn, following a surplus transfer of Rs. 1.3 Bn to shareholders.Sharing his thoughts on the company’s remarkable performance, Lasitha Wimalaratne, CEO of HNB Assurance PLC, stated, “Having effectively navigated challenges while prioritizing customer-centric solutions and driving solid business expansion, we are confident in reaching our 10% market share goal by 2026. Last year was an outstanding year for us, where, despite an increase in operating expenses due to IT infrastructure and software investment, we achieved a Profit Before Tax of Rs. 2.3 Bn and a Profit After Tax of Rs. 1.6 Bn. These achievements are the result of the dedication and resilience of our two incredible sales teams, where we produced a record 222 MDRT qualifiers along with the contribution of all our support teams, whose efforts have been instrumental in driving this growth. The most rewarding aspect of our journey has been our consistency, year after year, we have stayed strong and outperformed the industry growth rate, securing our position as one of the fastest growing life insurers in Sri Lanka. Adding to this success, our Fitch Rating was recently upgraded to ‘A,’ further affirming our financial strength and stability.Commenting on the success of the company’s Advisor Distribution Channel, Harindra Ramasinghe, Chief Business Officer / GM – Advisor Distribution Channel, noted, “Our focus on strengthening our advisor network and enhancing distribution channels has significantly contributed to our growth trajectory. The structured career path for our advisors has ensured higher retention, directly impacting our new business growth and long-term sustainability. We expanded this channel by reaching 3,000+ trained and supported advisors who efficiently meet our customers’ protection needs. Supported by a network of 70 branches, targeted growth and capacity-building initiatives, I’m extremely proud to note that the Advisor Distribution Channel reached a 21% YoY increase in GWP and 21% YoY New Business Premium growth, along with 87 MDRT qualifiers for the year 2024.”Mr. Sanesh Fernando, Chief Business Officer / GM - Partnerships, sharing his thoughts on the growth of the Channel, stated, “I’m incredibly proud of what we have achieved last year. Our Bancassurance channel continues to be the ‘Best’ in the industry, securing the top spot for the fourth consecutive year. With a GWP contribution of 48% to the company and Rs. 1.47 Bn in new business premiums, which reflects a 38% Growth from last year, a 29% in overall GWP and an incredible 112% surge in MRP and DTP business, we witnessed a strong momentum across all segments. The Alternate Channel also saw a phenomenal 64% growth, contributing 31% to the total Channel’s growth. Looking ahead, our initiatives like the LIFE Campus, set up to continuously improve and provide training to our teams along with the new Alternate Endowment Business vertical, SME and Micro Business focused partnerships are setting the stage for even greater success. What truly brings me joy is witnessing our people succeed. Last year, we hosted our inaugural international awards ceremony in Bangkok, where we celebrated over 100 of our top-performing sales staff. We also achieved a remarkable milestone with 135 MDRT qualifiers including 05 TOTs and 20 COTs, the highest number we have ever recorded. Lastly, let me also convey my heartfelt thanks to Hatton National Bank, our other partner banks and broker network for their continued support "
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Apr
HNB Assurance launched 'in.together', the company’s Diversity, Equity, and Inclusion (DEI) initiative, in partnership with Diversity Collective, a leading consultancy focused on creating inclusive workplaces. This collaboration is a key step in HNB Assurance’s efforts to build a company that values and respects every individual, creating an environment where employees feel supported and included.Through this partnership, HNB Assurance will undergo a series of consulting sessions aimed at developing policies, strategies and a DEI framework that promote diversity and inclusion across the organization.Mr. Lasitha Wimalarathne, Chief Executive Officer of HNB Assurance, sharing his thoughts at the launch event, stated, “As we continue to grow rapidly as a company, we must be more aware of how we operate and where we stand in terms of diversity and inclusion. These conversations at times can be tough, but they are definitely necessary. It is essential that we create a safe and happy space for our employees to work, where all individuals can thrive. As a company, we have always taken proactive steps towards building a strong culture and now, with our fast growth, we recognize that people contribute in unique ways and it is our responsibility to look after them. We are proud to have a team made up of all types of people and our collaboration with Diversity Collective will help us progress towards becoming a company that truly respects everyone.”Mr. Navin Rupasinghe, Head of HR at HNB Assurance, added, “Partnering with Diversity Collective is an exciting step for us. Together, we will work towards creating a culture that not only champions diversity but also strengthens our focus on equity and inclusion. This partnership is about setting a foundation for future growth, ensuring that as we expand, our company remains a place where every employee feels like they belong. As we move forward, we are focused on building a comprehensive framework for diversity and inclusion, starting with an initial audit to assess where we presently stand. Let me also state that this is a long-term commitment and we recognize the importance of consistently evaluating and evolving our efforts to ensure that we create an inclusive and equitable environment for all.”
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