HNBA News

HNB Assurance received two Bronze awards at the prestigious Dragons of Sri Lanka 2024 Awards, held in Malaysia. The company's innovative Dola Duka campaign and Independence Day campaign were celebrated in the Small Budget, Big Impact category and Best Brand Building and/or Awareness Campaign category, respectively. This prestigious international award shows the company’s commitment to keeping up with trends and effectively sharing its message with the public.

Commenting on the company’s latest achievement, Lasitha Wimalarathne, CEO of HNB Assurance, stated, “We are truly happy and proud to receive these accolades as they serve as a testament to the creativity, strategic thinking and collaborative effort that goes into every campaign we run at HNB Assurance. Our focus has always been to create meaningful and impactful campaigns that can resonate with our audience and the results we’ve seen along with such recognitions reaffirm our approach and strategy. I’d like to take a moment to commend and extend my gratitude to both our internal teams and partners for their efforts in bringing these ideas to life and driving these accomplishments on an international stage.”

Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer/General Manager of HNB Assurance, also shared his thoughts on this remarkable achievement: “This is a proud moment for us at HNB Assurance as we take home not just one but two Dragons at this year’s awards. Winning at last year’s Dragons of Asia Awards set the bar high for us, but our team’s continued focus on meaningful storytelling has proven to be a winning formula. In a competitive landscape, we had to also be innovative with our communications mix, finding fresh ways to break through the clutter and make a memorable impact. I would like to thank Dentsu Communications Sri Lanka and Kites Global for their partnership, which have been integral to our campaign’s success.”

HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) have both been reaffirmed by Fitch Ratings with an ‘A-(lka)’ rating indicating an outlook which is stable, signaling confidence in the companies’ financial health and future growth potential.

Fitch highlighted that HNBA and HNBGI have strengthened their investment portfolios and maintained healthy liquidity as the Sri Lankan economy recovered. A major part of their investments is in government securities, term deposits and corporate bonds, making them well-poised to venture forward.

Sharing his thoughts, HNBA’s CEO, Lasitha Wimalaratne, commented, “Even though we’ve faced many challenges recently, we remained focused on building a steady and sustainable business while putting our customer’s interests at the heart of everything we do. By effectively managing the factors within our control, we successfully strengthened our position, which includes growing our advisor network, enhancing our bancassurance partnerships and being innovative with our product offering. These efforts have enabled us to grow faster than the industry average, showcasing the strength and adaptability of our approach. This reaffirmed rating is not just a measure of our financial stability, it is also a strong endorsement of the trust our policyholders have in us. As we move forward, we do so with renewed confidence, ensuring our customers can rely on us for stability and support.”

According to Fitch, HNBGI continued to expand its non-motor segments and implemented enhanced claim management systems to better manage its position. This has led to lowered claims ratios and an improvement in HNBGI’s underwriting profitability in the first half of 2024.

“Expanding beyond motor insurance has helped us remain resilient in an unpredictable and challenging market” stated, Sithumina Jayasundara, CEO of HNBGI. “By diversifying our portfolio, we are better equipped to meet the evolving needs of our customers, which has led us to achieve a balance between our motor and non-motor segments. This balance has been key to our growth strategy, helping us reach new customer segments and reduce reliance on a single line of business. Further, our investments in technology and innovative systems that streamline claims management, enhance customer service and improve overall efficiency have allowed us to develop and deliver tailored solutions to our customers more quickly."

The Group’s CFO, Punsirini Perera, stated, “This rating highlights our disciplined approach to managing finances and strengthening our capital, which gives a reassurance to our policyholders that we are well-prepared for the future. Both HNBA and HNBGI maintain strong Risk-Based Capital levels that exceed regulatory requirements and our close association with our parent company, Hatton National Bank, one of Sri Lanka’s leading banks, has helped us amplify our reach and influence in the market, positioning us uniquely to offer greater security and peace of mind to our customers.”

HNB Assurance PLC continued their efforts to uplift the lives of communities across Sri Lanka through its Corporate Social Responsibility (CSR) initiatives anchored on three fundamental pillars: Health Protection, Environmental Protection and Education Protection. As part of its ongoing efforts, HNB Assurance recently inaugurated two clean drinking water projects and celebrated Children's Day at a local school, making a lasting impact on the lives of children while putting a smile on their faces.

Under the Health Protection Pillar, which focuses on enhancing the overall health and wellbeing of communities, HNB Assurance introduced clean drinking water systems at A/Elapathawewa Vidyalaya, Kalawediulpatha, Kebithogollewa, and T/Irakkandi Sinhala Vidyalaya, Nilaweli, Trincomalee. These initiatives address the critical need for access to safe water, which directly impacts physical, mental and social wellbeing.

Commenting on the completion of these projects, Mr. Lasitha Wimalarathne, CEO of HNB Assurance, stated, “Health is the foundation of any thriving community especially the wellbeing of our children. Our responsibility extends beyond providing insurance and we are dedicated to ensuring that our future generations grow up in an environment that supports their health, safety and overall wellbeing. These water projects and engagements we have with local schools are a testament to our attempt of creating a better tomorrow.”

In addition to the water projects, HNB Assurance celebrated Children’s Day with great enthusiasm at CP/HT/Homagama Vidyalaya, Ginigathhena, creating a day filled with joy and excitement. The event was marked by laughter and fun activities, offering students a memorable experience that highlighted the importance of education, exposure and engagement in childhood development.

Reflecting on the success of the event and water projects completed, Mr. Dinesh Yogaratnam, Chief Marketing and Experience Officer / General Manager, opined, “Seeing the bright smiles on these children's faces is incredibly rewarding. At HNB Assurance, we believe in nurturing the potential of young minds. Celebrating their special day with them brings us immense joy and reinforces our commitment to making a difference, not only through our insurance solutions but also through the meaningful connections we build with the communities we serve. In terms of providing access to clean drinking water, I’m happy to note that we have completed 69 successful clean water drinking projects thus far and we wish to continue our efforts in the years to come have noticed the positive impact they make.”