Dec
HNB Assurance Groupseized the Gold Awardin the Insurance Companies Categoryat the 53rdAnnual Report Awards Ceremony, organized by the Institute of Chartered Accountants of Sri Lanka for its 2016integrated annual report, themed ’15 Years, Delighting Our Stakeholders’. Sharing her thoughts onthe award,Mrs. Rose Cooray, Chairperson of HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI) stated “as contemporary business practicesaround the worldgrow in complexity, organizations should work towards catching its pace and adapting to these global standards in every mode of stakeholder communication. The annual report of an organization is an opportunity to showcase the strategic direction, scope and values of an entity.HNBA Group no doubt has set a new benchmark through its annual report for the industry”. Sharing his thoughts on the victory,Mr. Deepthi Lokuarachchi, Managing Director/CEO ofHNBAand HNBGIstated “the annual report of an organization is the single most important document andcalling card. As a Group providing financial protection,we ensure sustainable reporting,transparency andgood governancethat has been showcasedthrough our annual reports successively. Accolades of this nature reaffirm stabilityof the Group and we aredelighted to be the recipient of this year’s Gold Awardfor the Insurance sector, thus demonstrating to the financial markets that HNBA is a Company beyond benchmarks”. Mr. Indika Perera, Chief Financial Officer of HNBA and HNBGI thanked the project team involved in compiling the Group’s annual report stating “thisprestigiousaward recognizes the effortsand commitmentof a team of passionate individuals who worked tirelessly in completing the Group’s annual report”.
Nov
HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) posted a Profit After Tax (PAT) of LKR 282 MN for the nine months ended, 30thSeptember 2017, depicting a growth of 166% compared to the PAT of LKR 106 MN recorded during the corresponding period last year. The Group posted a Gross Written Premium (GWP) of LKR 5.8 BN, signifying a growth of 20% as opposed to the GWP of LKR 4.9 BN recorded during the same period in 2016. In reviewing the performance of each individual company, the Life Insurance Company recorded a GWP of LKR 2.9 BN as opposed to the GWP of LKR 2.6 BN achieved during the first nine months of 2016. The General InsuranceCompany registered a GWP of LKR 2.9 BN against the GWP of LKR 2.3 BN recorded during the corresponding period of 2016. For the nine months ended 30thSeptember, 2017 the group earned an Investment Income of LKR 1,197 MN with a growth of 45% against LKR825 MN achieved during the same period of 2016. The Total Assets of the Group reached a value of LKR 17.6 BN and Investments in Financial Instruments reached a value of LKR 14.4 BN. During the same period the Life Insurance Fund and General Insurance Fundgrew by 22% and 30% reaching values of Rs. 10.6 BN and 2.5 BN respectively. Speaking on the financial performance of the Group, Chairperson of HNBA and HNBGI Mrs. Rose Cooray stated that “the Board of Directors is extremely pleased on the Group’s financial performance showcased during the first nine months of 2017. The profits of the Group were triggered by several key contributors in both businesses. The growth of individual policies of the Life business and the growth of several categories such as Fire, Motor and Marine of the General business led the Group to yield these significant financial results. These financial results augur well for the sound business strategies deployed by the HNBA Group despite the stressful market conditions in this economic backdrop. The Q3 results of the Group demonstrate its stability where the key focus has always been on maximizing the returns to each stakeholder and delivering sustainable long-term returns and these robust financial results alongside the growth of both HNBA and HNBGI are testaments of the Group’s solid performance”. Sharing his thoughts on the Q3 financial performance, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated “coming off a strong first half, both HNBA and HNBGI teams have delivered steadfast results over Q3 as well, which marks a significant growth driven in particular by seizing new markets and deploying effective business strategies. The Group’s consolidated figures showcase the growth of several General Insurance segments, which have led the Group to yield these thriving results. I’m sure that these results will continue its growth in the final quarter of 2017, despite the on-going challenges. The Group continued to enhance and recalibrate its risk profile despite the volatile macroeconomic conditions within the regions and as a result the Group’s footprint in the country has been able to seize emerging growth opportunities by constantly maintaining its position in the industry. The HNBA Group remains confident of its competitive advantage, solidarity of its financial backing and the dynamic business strategies in acquiring new market segments and growing both Life and General businesses”.
Nov
HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) celebrated the outstanding performance ofthe Branch Managersand key membersof the Retail Banking Management team of the Hatton National Bank PLC (HNB)at a glamorous event held recently. This event was graced by the presence of Mrs. Rose Cooray, Chairperson of HNBA and HNBGI and Director of HNB together with Mr. Kalum Wijesooriya, Chief Employee Experience Officer/Assistant General Manager -Deposits and Remittancesof HNB and Mr. Deepthi Lokuarachchi, Managing Director/CEO of HNBA and HNBGI as Guests of Honor together with the seniormanagementof HNB, HNBA and HNBGI. Sharing her thoughts, Mrs. Cooray stated “the synergiesof cooperation, expertise and assistanceof the Group havehelped both HNBA and HNBGI extensively in capturing growing markets and stabilizing its position in a competitive industry such as insurance. Theinterlinkages seen within the Group set a strong base for greater financial responsivenessand to be able to offer a holistic proposition to one’s financial needs as a Group”. Speakingat the event, Mr. Wijesooriyacongratulated the winners of the night for their achievements and emphasized on the significantrole of banking and insurance in growingfinancial markets of our economy andhow important it is to develop product propositionsto cater to the financialand protectionneeds of individuals as a Group. Mr. Lokuarachchi thanked the Board of Directors and the senior management of HNB for their continuous support, stating “Banking and Insurance together provides us the opportunity as a Group to help people build and sustain their wealth and it is up tous to advice customers on the optimal levels of returns and protection they ought to have for themselves. So let us continue to work together to enrich lives of them that we serve”.