HNB Assurance PLC Group Surpasses the Rs. 10 Billion GWP Mark

  January 13,2021

HNB Assurance PLC (HNBA), a leading Life Insurance service provider together with its fully owned subsidiary, HNB General Insurance Limited (HNBGI), a fast-growing General Insurance Company has surpassed the Rs. 10 Billion mark in terms of its turnover for the year ended 31st December, 2020.

Mr. Prasantha Fernando, Chief Executive Officer of HNBA and HNBGI shared his thoughts stating, “The HNBA Group kickstarted the new year with this remarkable achievement under its belt despite the impact of an ongoing global pandemic. The Group was able to achieve this covetous milestone in terms of its Gross Written Premium (GWP) as a result of a well curated business strategy, service excellence, product deliverables to suit the needs of our customers, an efficient claims settlement process, all delivered by a team of happy and motivated employees. The Management is indeed grateful to have witnessed this achievement especially during these testing times”.

Sharing his views, Mr. Lasitha Wimalaratne, Chief Operating Officer of HNBA stated, “HNBA as a leading Life Insurer has stood by its promise to take good care of its customers and its employees especially in an extremely volatile and challenging environment, and being at the forefront  of a competitive industry, HNBA has exercised excellent business strategy, product innovation and service enhancement initiatives to deliver outstanding returns to all stakeholders. As an entity that holds great responsibility within the financial services sector of the country, achieving the Rs. 10 Billion mark during a time of economic uncertainty has aptly demonstrated the Group’s agility and business strategies executed meticulously to transform unprecedented challenges into opportunities. Thus, this is a brilliant testament to the Group’s growth and firm footing in the market. I’m thankful to the dedication and commitment of our dynamic teams, and for their fabulous drive to achieve the impossible”.

Mr. Sithumina Jayasundara, Chief Operating Officer of HNBGI mentioned, “Surpassing the Rs. 10 Billion mark in revenue generation was a landmark achievement gained by the collective efforts and contribution of the agency channel, corporate sales unit, takaful unit, broker and leasing channels. It surely is a massive achievement for any entity, especially considering the current economic backdrop. Our invaluable stakeholders have placed immense trust and confidence in the firm partnership that we have cultivated with them over time, and this achievement sets out our unparalleled strength, reliability and continued dedication to deliver. As we ring in 2021, we firmly believe that HNBA and HNBGI, as innovative and responsible insurance service providers will strive to deliver even better, achieving greater stability and growth in accordance with the new benchmarks set in the industry. Every single employee of the Company has contributed to this significant achievement and the Management of HNBGI is thankful, and remains confident of the future outlook of the Company”.

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.

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