HNBA News

Children are jewels of the society and future of the nation. In celebration of World Children’s Day 2021, HNB Assurance PLC (HNBA) launched its Annual Children’s Day Campaign with a meaningful message to parents and guardians. Sharing his views on this special campaign, Chief Executive Officer of HNBA and its fully owned subsidiary, HNB General Insurance Limited, Mr. Prasantha Fernando stated, “Every year HNBA conducts various activities in commemoration of World Children’s Day and this year we’ve launched a truly meaningful campaign giving us adults much food for thought. As parents and guardians, we are well focused on the bigger things in life and often miss out on the little, meaningful things which could strengthen the bond between parents and children. This year’s campaign highlights the importance of sharing such moments in life with our children, with the meaningful message that Children’s Day should be celebrated from within our hearts”. Mr. Fernando continued, “Whilst wishing a Happy Children’s Day, lets pledge our support and commitment to protect our children from every harm as well as to raise awareness on the real challenges and issues faced by our children so that our country will be a truly safe place for our children to live and grow”. Chief Operating Offer of HNBA, Mr. Lasitha Wimalaratne shared his thoughts stating, “As parents and guardians we run a continuous race to provide the best education and best life to our children and most often we forget to cherish those little moments in life with our little ones. With the emergence of the pandemic and the world slowing down with our lives taking a different turn, we have understood what’s important in life and value of spending time with our loved ones. With this thought in mind, we’ve developed another special campaign to celebrate this year’s Children’s Day, giving out a meaningful message. This year’s campaign will be launched across HNBA’s social media platforms with special giveaways during the month of October”. Mr. Wimalaratne added, “I would like to wish our little ones a Happy Children’s Day and I take this opportunity to invite all parents and guardians to review our comprehensive product portfolio, specially designed to cater to the needs of your family and your little ones to make sure that they face life with confidence and peace of mind”. 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.

Reaching another significant milestone in its journey, HNB Assurance PLC Group celebrated its 20th Year Anniversary recently. Incorporated in 2001 and listed in the Colombo Stock Exchange in 2003 the Company has grown over the years and is present to serve people across the country. Having commenced business as a composite insurer, keeping in line with the segregation rules, HNB Assurance PLC (HNBA) floated HNB General Insurance Limited (HNBGI) in 2015, as its fully owned subsidiary, which took on the general insurance business while HNBA retained the life business. The Group has always focused on consolidated growth, delivering a tangible value proposition to all its stakeholders. Both HNBA & HNBGI had their ratings upgraded to A+ by Fitch, auguring well for the Group’s financial strength and soundness.   
Sharing her views on this significant milestone, Chairperson of HNBA and HNBGI, Mrs. Rose Cooray stated, “The 20th Year Anniversary of a relationship, friendship or a business is a cause for celebration for many reasons. Having journeyed together with our customers, employees, and shareholders for two decades, the Group has reached many a milestone, achieving stellar heights and creating a tangible and real difference in the lives of people.  Being in the business of protection, we have served and taken care of thousands of policyholders and their loved ones, providing a shield of protection and armor of confidence to face the uncertainties and challenges in life.  Both Life and General Insurance businesses have transformed significantly during the past 20 years, growing to be a Group with a turnover of over LKR 10 Billion. Whilst expressing my sincere gratitude to all our customers, investors, and other stakeholders for being with us during the past two decades, I assure you that the Group is geared to move forward with much greater financial stability, innovation, efficiency and the highest quality in service delivery, with the aim of setting new benchmarks in the industry, whist taking care of you and your loved ones”.
Mr. Prasantha Fernando, Chief Executive Officer of HNBA and HNBGI expressed his words stating, “Over the past 20 years, both HNBA and HNBGI have grown from strength to strength, consolidating its footprint in the industry, seizing every growth opportunity, and introducing innovative products to meet the needs of protection, savings, education, health and retirement on the life side, as well as complete bouquet of products on the GI side. The success mantra of the Group has always been the focus given to the needs of our policyholders and their loved ones, for the last two decades, we’ve honored our promise to each and every policyholder. I am proud of our HNBA & HNBGI teams for what they have achieved as at date. Ours is resilient outfit focusing on consolidated growth and value creation. During the past 20 years, the Group has given back and taken care of the community through various CSR initiatives, including the Group’s award-winning Water Stewardship Initiative, under which drinking water facilities were provided to over 60 rural schools in different parts of the country. In addition to this, the Group has undertaken several other initiatives to take care of our community including the recent donations of urgently needed medical supplies and equipment to several hospitals to help combat the current pandemic”. Mr. Fernando continued, “Whilst saying thank you to every policyholder, to every staff member and to every shareholder for their well placed trust in us, I wish to reiterate that under the guidance of a dynamic team of leaders, the Group will continue to grow and further expand its footprint in the market, providing innovate life and general insurance solutions to help you live life to the fullest”.
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.

HNB Assurance PLC (HNBA) and its fully owned subsidiary, HNB General Insurance Limited (HNBGI) recorded a Profit After Tax (PAT) of LKR 285 Mn for the first half of 2021 (excluding surplus transfers from the Life Fund which will be determined at the end of the year following the valuation of the Life Fund), with a Gross Written Premium (GWP) of LKR 5.7 Bn. During the period, both HNBA and HNBGI recorded notable GWP growth rates of 44% and 11% respectively. Expressing her views on the performance delivered, Chairperson of HNBA and HNBGI, Mrs. Rose Cooray stated, “I’m pleased to state that the Group has completed another successful 1st half, recording a notable PAT of LKR 285 Mn amidst all prevailing challenges and uncertainties. As the pandemic keeps posing new threats, the Group adapted various agile business strategies to combat the adverse aftermath impact of the pandemic as well as to keep growing and going forward. Looking at the performance of each business, the Life Insurance business recorded a GWP of LKR 3.1 Bn and the General Insurance business recorded a GWP of LKR 2.6 Bn and the Net Income of the Group surpassed LKR 6.4 Bn”. Mrs. Cooray further added, “It is noteworthy to mention that given the financial stability and positive outlook of the Group, the Fitch Rating for ‘National Insurer Financial Strength Rating’ of both entities were upgraded to A+. The Boards of HNBA and HNBGI remain confident of the future outlook of both entities and the businesses are well focused on investing in growth opportunities, advancing its product portfolio to suit the needs of its customers and deliver sustainable value to its customers as well as shareholders”. Mr. Prasantha Fernando, Chief Executive Officer of HNBA and HNBGI, stated, “The positive growth momentum of the Group continued during the second quarter, delivering a significant double-digit GWP growth of 27% compared to the corresponding period of last year. Although the PAT growth, in comparison to the corresponding period of 2020, has taken a dip, this was mainly due to increase in claims experienced in the General Insurance business consequent to greater mobility of vehicles compared to last year, and a reversal of deferred tax asset owing to the change in the tax rate. However, change in tax rate is a one-off negative impact and will benefit the Group in the long-run”. Mr. Fernando continued, “It is noteworthy to mention that the Total Assets of the Group surpassed LKR 33.7 Bn and the Investment Income of the Group surpassed LKR 1.3 Bn. The Life and General Funds of the Group reached LKR 18.8 Bn and 3.3 Bn respectively. The upgraded Fitch Rating of A+ is a reflection of the Group’s resilience, stability and solid business practices and with effective strategies in place, the Management of HNBA and HNBGI remains confident of what’s ahead and is on course to achieve the set targets for the year”. 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.