HNBA News

HNB Assurance, recently convened its highly anticipated New Business Launch and Distribution Management Forum, showcasing the exceptional performance of its Advisor Distribution Channel. The forum highlighted significant achievements, including a remarkable 37% increase in NBP growth, a robust 23% growth in GWP and the prestigious international recognition from Insurance Asia for the best Distribution Initiative, during the year 2023

Mr. Lasitha Wimalaratne, CEO of HNBA expressed his thoughts at the forum, stating, "We are extremely proud of the outstanding performance displayed by our Advisor Distribution Channel, during the year 2023. The impressive growth in New Business Premiums (NBP) and Gross Written Premiums (GWP) underscores the expertise of our team.”

Reaffirming the company's commitment to achieving a 10% market share within the next three years, Mr. Wimalaratne emphasized the importance of collective efforts that will propel the organization towards this ambitious target. “As we welcome the new year, I urge everyone to embrace technology, prioritize continuous innovation and enhance customer engagement. With this approach we will undoubtedly achieve success while remaining on track to achieve our long-term goals.”

The forum highlighted the impressive role and mentorship of the Sales Training and Development team and all senior and branch level managers responsible in recording a remarkable 92 MDRT qualifiers, including 03 Court of the Table (COT) and 02 Top of the Table (TOT) achievers. Mr. Harindra Ramasinghe, Chief Business Officer - Advisor Distribution Channel / General Manager, stated, "I am thrilled to announce the remarkable milestone of 92 MDRT qualifiers, including three Court of the Table (COT) and two Top of the Table (TOT) achievers, which is the highest ever MDRT achievers recorded from the Advisor Distribution Channel. These achievements reflect not only the individual commitment of our advisors, but the collective strength of our Advisor Distribution Network. Let me take this opportunity to congratulate and thank all our SBU Heads, Zonal Heads, Branch Managers and Trainers for their guidance and support in ensuring we achieve this impressive feat. 

Looking ahead, HNB Assurance is poised to leverage on its success built over the past couple of years. “The achievements celebrated today are a result of our well-crafted strategies and collective efforts, I’m confident that we will continue to champion excellence while providing exceptional value and protection to our customers and achieve even greater heights in 2024.”, added Mr. Ramasinghe.

HNB Assurance PLC is pleased to announce the appointment of Mr. Lakshman Silva and Dr. Sankalpa Gamwarige as Independent Non-Executive Directors to its Board with effect from 1 January 2024.

Mr. Lakshman Silva is the former CEO/Director of DFCC Bank PLC. He started his professional career at the Department of Inland Revenue of Sri Lanka and joined the DFCC Banking Group in 1987. He was seconded to the service of DFCC Vardhana Bank in 2003 and functioned as Chief Operating Officer until his appointment as CEO/Executive Director in January 2010. Held the position of Deputy CEO /Director of DFCC Bank PLC from October 2015 and was appointed as CEO /Director in August 2017.

Until his retirement in December 2021, he was Chairman of DFCC Consulting Ltd., Lanka Industrial Estates Ltd., and Synapsys  Ltd. (subsidiary companies of DFCC Bank PLC) as well as the Chairman of Lanka Financial Services Bureau Ltd. and Sri Lanka Banks' Association (Guarantee) Ltd. He also held the position of Chairman of Acuity Partners Ltd., the joint venture company of DFCC Bank PLC. In addition, he was Chairman/Director of Lanka Ventures Ltd., LVL Energy Fund PLC and Director LankaClear Ltd.

Silva was a member of the Board of Directors of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), and Board of Management of the Sri Lanka Sustainable Energy Authority.

At present he serves as an Independent Director at Seylan Bank PLC, Independent Director of Finetech Consultancy Ltd, while serving as Chairman and Director of Panasian Power PLC and its subsidiary companies. He also serves as Member of the Stakeholder Engagement Committee of the Central Bank of Sri Lanka. Silva is a past President of the Association of Professional Bankers of Sri Lanka. He holds a BCom (Sp.) from the Kelaniya University and an MBA from the Postgraduate Institute of Management of the Sri Jayewardenepura University. He is an Associate Member of the Association of Development Financial Institutions of Asia and the Pacific (ADFIAP).

Dr. Sankalpa Gamwarige, PhD is an Innovative Digital Transformational specialist and Tech Talent Enabler with a 20+ year Digital Product Engineering and Electronics Engineering background. He is a member of Global Leadership team of Nagarro, a Digital Product Engineering Company Listed at the Frankfurt Stock Exchange, with a global team of over 19,000 Digital Specialists across 35 different countries.

Prior to joining Nagarro, he was General Manager and Vice President of Engineering at Zone 24x7 a family-owned Digital Product Company with Operations in USA, UK, Malaysia and Sri Lanka. During his 16 years of Engineering Leadership career at Zone24x7, he led the teams towards: overall winner of the National Best Quality Software Award (NBQSA) 2015, winner of R&D category at Asia Pacific ICT Alliance (APICTA) Awards 2015, Presidential Awards for the highest Value-Added Exporter of the Hi-tech/Innovative Sector 2014, 2015 and 2016. Sankalpa has contributed many US Patents filed and owned by Zone24x7. Further, the academic papers published by him based on his PhD research have been extensively cited.

Sankalpa has voluntarily contributed to many national initiatives and forums including SLASSCOM, TRACE, National Innovation Agency (NIA), National Science Foundation (NSF), Export Development Board (EDB), Sri Lanka Institute of Biotechnology (SLIBTEC) and Ceylon Chamber of Commerce (CCC), serving in various capacities such as Advisory and Board level. In addition, he is/was a member of the Board of Studies - Faculty of Graduate Studies and Academic Committee of BIT external degree program – Faculty of IT, Moratuwa University.

HNB Assurance PLC’s annual report for the year 2022 secured the Silver Award in the Life Insurance Sector category at the prestigious South Asian Federation of Accountants (SAFA) Awards. The win further bolsters the company's stellar record, building on previous recognitions, including the Silver Award at the TAGS Awards and the ‘Best of Sri Lanka’ Award at the ARC Awards, all featuring the celebrated 2022 Annual Report.

The SAFA Awards, organized by the South Asian Federation of Accountants is recognized as the most prestigious accolade for financial reporting in the South Asian region. For over two decades, these awards have played a crucial role in promoting excellence and effective communication in the presentation of high-quality, relevant, reliable and objective financial and non-financial information. 

Speaking about this recognition Mr. Lasitha Wimalaratne, CEO of HNB Assurance, stated “This award serves as a true testament to our commitment to integrated reporting excellence. In the context of our 2022 Annual Report, this award marks another milestone in a series of recent recognitions we’ve achieved, both on the local and international fronts. My heartfelt thanks go out to the teams involved, similar to the theme of the annual report, I’m certain that we will continue to reach greater heights in the future.” 

“The theme "Above All, We Rise" resonates with the spirit of resilience and continuous elevation that defines the HNB Assurance Group”, said Mr. Sithumina Jayasundara, CEO of HNB General Insurance Ltd. “For us, the 2022 Annual Report serves beyond a showcase of financial achievements, the report emphasizes the broader impact of HNB Assurance Group on our stakeholders. My congratulations to all the teams as they continue to elevate our reporting standards and produce award-winning annual reports.” 

Ms. Punsirini Perera, CFO of HNB Assurance and HNB General Insurance, sharing her thoughts on this achievement, opined, “Winning Silver at the SAFA Awards is a tremendous honor for HNB Assurance PLC. This competition attracts entries from the best in class across the entire South Asian region and is evaluated by an expert panel of judges. I’m extremely proud of our team and all external partners who supported us. I am confident that we will persist in pushing boundaries, consistently excelling and upholding the highest standards in our reporting.”