HNB Assurance Group deliveredasuperlativefinancialperformance, reporting a Profit After Tax (PAT)of LKR 699 MN for Q1 2018 reflecting a steadygrowth of 844% in comparison tothe PATof LKR 74 MN recordedduring the corresponding period of 2017.This growth mainly resulted due to the transfer of One-off surplus of LKR381 MNto Shareholder Fund from Non-Participating Policyholder Fund due to thechange in liability valuation method and the surplus transfer made during the first quarter 2018amounting to LKR210 MN.
In analyzing the financial results of the periodunderreview, the Group recorded a Gross Written Premium (GWP) of LKR 2.19BN, depicting aconsolidatedgrowth of 15% in comparison withthe GWP of LKR 1.9 BNrecorded during the first quarter of 2017. The Parent Company, HNB Assurance PLC (HNBA) recorded a GWP of LKR 1.06 BN when compared withthe GWP of LKR 988 MN recorded during Q1 2017. The subsidiary, HNB General Insurance Limited (HNBGI) recorded a GWP of LKR 1.14 BN against a GWP of LKR 929 MN recorded during the corresponding period last year, reflecting a growth of 22%. Together with the One-off Surplus,HNBA posted a PAT of LKR 658 MNfor the period, recording a growth rate of 1,159%while the PAT excluding One-off Surplus and Surplus Transfers during Q1 marked a 28% growth. HNBGI recorded a PAT of LKR 41MNwhen compared with the PAT of LKR 22MN recorded during the first quarter of 2017, showcasing a growth of 88%.
Sharing her views on the financialresults, Chairperson of HNBA and HNBGIMrs. Rose Cooraystated “In a challenging period forthe entireinsurance industry, the Company was able todeliver steady financial results for the first quarter of 2018.These results showcasetheeffectiveness of our customer centric strategies and the Company’s day-to-day focus on operationalefficiencies in capturing new market segments. These financial results reassure stability andthe
positivegrowthmomentumof theGroupand will continue to steer its course through challenging market conditionsby focusing on its strengths, core competencies and synergies of the Group.It is pertinent to note that the PATof the Life Insurance Company includes a surplus transfer of LKR210MN made as per the recommendation of the Consultant Actuary, subsequent to thevaluation of the Life Fund as at the end of1Q 2018. Further, the Company also transferred LKR 381 MN toShareholdersFund, with the approval of the Insurance Regulatory Commission of Sri Lanka (IRCSL), as One-off Surplus arising from Non-Participating Life Insurance Fund due to the change in the valuation method of the Life Fund as per the regulations of the IRCSL.The one-off surplus will be kept as a Restricted Regulatory Reserve as per the Directions of the IRCSL.
Speaking on the performanceof the Group, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated “In spite of several macro-economic challengesprevailinginthe country,the Group was able to achieve aGWPgrowth of 15% during the first quarter.TheIndividual and Corporate policies of the Life Insurance Company and categories such as Fire, Motor and Marine of the General Insurance Company depicted a promising growth. During the first quarter, Total Assets of the Group reached LKR 19 BN and the Investments in Financial Instruments surpassed the mark of LKR 15 BN. The Life Insurance Fund andthe General Insurance Fund reached values of LKR 10.9 BN and LKR 2.5 BNrespectively”.Speaking on the Group’s future outlook Mr. Lokuarachchi added “These results are a testament to theefforts, strategiesand the positive directionof the Group. The Group’s performance ambitions remain high as we continue to develop dynamic products and capture growing markets in both Life and General Insurance segments whilst sustaining ourcore business modelto benefit our stakeholders”.
Nov
HNB Assurance PLC (HNBA) was recently recognized as the winner of the Best Well-being Initiative for Working Parents at the Parent-Inclusive Workplace Summit 2025 hosted by Parenthood Global. This recognition, earned through an independent evaluation among multiple organizations, stands as a testament to HNBA’s commitment to support working parents.For HNBA, this award is a validation of years of intentional effort, focused policies and a culture built on empathy. From caregiver leave to flexible support ecosystems, from in.she initiatives to mom-inclusive programs, HNBA has consistently placed the well-being of working parents at the center of its people agenda. Sharing his thoughts, the Executive Director / Chief Executive Officer of HNB Assurance PLC, Lasitha Wimalaratne, stated “This award is deeply personal to us and my sincere thanks to Parenthood Global for this wonderful recognition. Our commitment has always been to build a company where people feel supported not only as professionals, but as human beings with families, responsibilities and dreams. This recognition is proof that compassion, when embedded into culture, creates a lasting impact.”Navin Rupasinghe, Head of Human Resources / DGM of HNB Assurance PLC, added, “Every HR policy we design and every initiative we introduce is rooted in one belief, that our people deserve a workplace that honors their whole life, not just their job titles. Working parents give so much of themselves every day, and it is our duty and privilege to create an environment that lifts them. I certainly believe that this award belongs to our incredible parents who inspire us to do better, every single day.”
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Nov
HNB Assurance PLC continues to reinforce its commitment to uplifting communities across Sri Lanka through its three core CSR pillars, Health Protection, Environmental Protection and Education Protection. Anchored on these pillars, the company has rolled out a series of impactful initiatives aimed at enhancing wellbeing, improving access to essential resources, and supporting the next generation.Most recently, under the Health Protection Pillar, HNB Assurance supported P/ Wijayapura Primary School, Bisobandaragama Primary School, Mahaweli Primary School and Kidalagema Primary School in Medawachchiya by installing Reverse Osmosis (RO) water filtering systems. These systems provide access to clean and safe drinking water, helping protect schoolchildren from consuming contaminated water and ensuring healthier learning environments. With the completion of these four water projects in 2025, HNB Assurance has now completed over 75 water projects across the country.In addition to these efforts, HNB Assurance continues to champion several long-term development programs. The company conducts pregnant mother programs that promote maternal wellbeing, Grade 05 scholarship programs that encourage academic excellence among young learners and financial literacy programs designed to empower communities with essential money management skills.Through these ongoing initiatives, HNB Assurance remains dedicated to protecting lives, nurturing growth and supporting resilient, thriving communities across the country.
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Nov
HNB Assurance PLC has entered into a strategic partnership with Dialog Finance PLC, a pioneer in digital financial solutions, to further enhance its digital payment infrastructure and accelerate its journey towards achieving 100% digital premium collection.This collaboration marks a significant milestone in HNB Assurance’s digital transformation journey, reflecting the company’s continuous commitment to improving customer convenience, operational efficiency and financial inclusivity. By integrating Dialog Finance’s advanced Genie Business platform, which includes Payment Links and Internet Payment Gateway (IPG) services, HNB Assurance aims to streamline its premium collection process and redefine how customers interact with insurance services.Through these solutions, customers will now be able to make payments effortlessly and securely, either through personalized payment links shared by HNB Assurance or via secure online gateways. This eliminates the need for manual or in-person transactions, ensuring instant payment acknowledgments, and offers customers a faster, safer, and more convenient experience.This partnership leveraging innovation and technology not only strengthens the technological backbone of HNB Assurance’s payment ecosystem but also align with the company’s long-term vision of becoming a fully digital insurer, offering end-to-end solutions that meet the evolving needs of modern customers.
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