HNBA News

Glorifying the spirit of womanhood on this International Women‟s Day, as a salutation for women across Sri Lanka, HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) declared the launch of „Liya Harasara‟ for the 7th consecutive year. Liya Harasara will be conducted throughout the month of March and April, offering numerous benefits for ladies. Expressing his views on the 7th edition of Liya Harasara, Prasantha Fernando, Chief Operating Officer of HNBA stated, “Women in the society we live in plays a pivotal role and holds a prominent place in the society by being leaders, entrepreneurs and great homemakers and Liya Harasara is our way of paying tribute and gratifying the spirit of womanhood across the country”. On the note of the above, Ivan Nicholas, Chief Business Officer of HNBA, shared his thoughts stating, “the 7th edition of Liya Harasara denotes the collection of an array of benefits and special offerings from HNBA and HNBGI along with leading brands, namely, Durdans Hospital, Singer Plus, Vision Care and Fashion Bug. Such benefits of Liya Harasara include a free life cover of up to Rs. 1 Million for one year from HNB Assurance for regular Premium Life Insurance policies. Furthermore, a Daily Benefit for child birth and pregnancy related hospitalization subject to maximum of 3 days per year would be offered to the policy holders. In addition, Liya Harasara offers ladies a free Personal Accident Cover up to Rs. 500,000 for every Motor  Insurance Policy obtained from HNBGI. Leading brands in Sri Lanka have partnered with HNB
Assurance further adding value to Liya Harasara policy holders with a range of special discounts. A discount of 10% from Durdans Hospitals for selected medical treatments, a discount of 5% from Singer Plus on mobile phone purchases and a discount of 10% on other  appliances, a discount of 15% for purchases that involve spectacles & sunglasses through Vision Care and a discount of 15% from Fashion Bug are amongst the inclusions”.

HNB Assurance Group delivered striking financial results for 4Q 2018, posting a Profit After Tax (PAT) of LKR 2.7 BN. This includes the regular profits for the period together with the One- Off Surplus which is resultant of the Life Fund Valuation rule change and the Deferred Tax asset of LKR 1.2 BN. The profit hence showcased a 241% growth in comparison to the corresponding period of 2017. However, the aforementioned One-Off Surplus will only be applicable for the year 2018. The Group recorded a Gross Written Premium (GWP) of LKR 8.7 BN against a GWP of LKR 7.8 BN recorded in 2017. Sharing her views on the financial results of the Group, Mrs. Rose Cooray, Chairperson of HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) stated, “HNBA and HNBGI have stood strong against numerous challenges prompted by economic factors prevailing in the market. Continuing its journey steadily, on the impressive growth trajectory commenced in the recent past, the two companies have delivered outstanding overall results in the current year. This has resulted in further reinforcing our firm standing in a highly competitive industry coupled with a healthy reputation and a favorable future outlook. The stellar performance is a result of the dedicated work of the two teams combined with the strategies and a number of practices introduced by the Group in relation to improving its efficiency and processes to provide a superlative service to its clientele”. Expressing his view on the Group`s performance, Managing Director/CEO of HNBA and HNBGI, Mr. Deepthi Lokuarachchi stated “with our focus on delivering value to our customers and shareholders these financial results denote the Company`s continued commitment to expand profitable lines of business and reassure a dominant position in the market”. Furthermore, Mr. Lokuarachchi added “Segments such as Motor and Fire of the General Insurance business depicted impressive results and the Life Insurance Business reflected a growth on par with the market rates. The total asset of the Group reached a value of LKR 22.3 BN and the investment in financial instruments surpassed a value of LKR 17 BN. The Life and General Insurance Funds reached values of LKR 12 BN and LKR 2.5 BN respectively. These results demonstrate the accelerating sales momentum and strong revenue growth of the Group and it is our belief that these results will continue to grow as we go forth in our journey”.

Providing a ray of hope in the instance cancer strikes, HNB Assurance PLC (HNBA) announced the launch of another revolutionary product to its product bouquet recently. Possibly the first of its kind in the industry, HNBA Hope Cancer Insurance Plan, offers a range of special benefits in the instance of a cancer diagnosis. Sharing his views, Managing Director/CEO of HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI), Mr. Deepthi Lokuarachchi stated “our lifestyles and stress related issues and hereditary conditions make us more prone to life threating diseases. Cancer is one such disease and causes for cancer have tremendously increased during the recent times. The diagnosis of cancer could threaten the foundation of happiness of a family and cost of treatment, right from diagnosis could become a burden, leaving a dent in the savings of the family. HNBA Hope Cancer Insurance Plan is our way of providing a ray of hope and a blanket of financial protection for those individuals and families so that they could focus on obtaining treatment and overcoming this dreaded disease.” Speaking on the product features, Chief Operating Officer of HNBA Mr. Prasantha Fernando stated “HNBA Hope is the outcome of extensive research and expertise of a dynamic team. Our aim was to introduce a product which offer benefits from the detection of any Early Stage Cancer, as there are many costs to bear from the time of diagnosis. This product offers a cover up to 10 years for an attractive, affordable single premium that could be borne by persons of all social strata. Our focus is to attract a large customer base which in turn will make the premiums factor affordable to the critical masses. On the diagnosis of an Early Stage Cancer, 20% of the Sum Assured will be paid and the balance 80% will be available if it progresses to Late Stage Cancer. In case of diagnosis of a Late Stage Cancer, 100% of Sum Assured will be paid. HNBA Hope Insurance Plan could be obtained from your nearest HNBA Branch, HNB Branch or through our Insurance Advisors. Further networks will be announced shortly”.