HNB Assurance PLC (HNBA), kicked off the year 2024 on an impressive note, showcasing robust performance in the first quarter. Driven by a clear strategic vision, HNBA has proven its adaptability, strength and growth potential yet again, seamlessly navigating the ever-changing insurance landscape. At the end of Q1 HNB Assurance posted a Gross Written Premium (GWP) of LKR 3.3 billion while HNB General Insurance recorded an impressive LKR 2.9 billion. “The formula for us has been quite simple, expand our reach while creating maximum value for our customers”, stated Mrs. Rose Cooray, Chairperson of HNBA and HNBGI. "We have been extremely fortunate to witness this philosophy not only guide our endeavors but also enable us compete and grow within a highly competitive industry. I am pleased to note that during Q1 of 2024, our GWP once again surpassed last year's performance by an impressive 13%, reaching a total of LKR 6.2 billion. Additionally, as a group, we expanded our total assets by LKR 4 billion, reaching a milestone of LKR 55 billion. Our Financial Investments portfolio also experienced significant growth, rising to LKR 46 billion from LKR 43 billion when compared to the same period last year. Our consistent growth across all areas, I believe, has positioned us for sustained success within this dynamic and highly competitive environment." Mr. Lasitha Wimalaratne, Chief Executive Officer of HNB Assurance PLC, expressed his delight with the company's Q1 financial performance, stating, "I'm delighted to state that the efforts and diligence of our teams have once again yielded positive results for us, contributing to our sustained growth and success as a company. Notably, our Life Insurance business achieved a remarkable 14% growth, reaching an impressive LKR 3.3 billion in GWP which included a New Business Premium growth of 34% against an industry growth of 24% and a long term Endowment growth of 23% against an industry growth of 15%. Moreover, our Life Insurance Fund experienced substantial growth, exceeding LKR 2.5 billion to reach a significant milestone of LKR 33 billion during the first quarter. As we prepare for forthcoming changes, including the implementation of IFRS 17 and the fruition of our digital investments, I am confident in our ability to enhance our customer experience and accelerate our growth trajectory." Chief Executive Officer of HNB General Insurance, Mr. Sithumina Jayasundara, opined “Q1 has always been crucial for us in terms of setting the tone for the year and I’m delighted to note that we have recorded an impressive 9% growth in GWP to reach LKR 2.9 billion when compared to the same period last year. In terms of our non-motor business we recorded a 15% growth against the industry which showcased no growth while our overall business including motor and non-motor recorded a 9% growth against the industry growth of 0.8% which is 09 times the industry growth rate. We also witnessed substantial growth with our total assets, growing to LKR 10.9 billion from LKR 9.6 billion. Furthermore, we achieved a significant milestone by initiating our compliance journey with the International Financial Reporting Standard (IFRS) 17, pioneering the industry's adoption of WTW’s ResQ Financial Reporter (FR), a move which underscores our commitment to transparency and regulatory adherence. Additionally, our strong and growing partnership with Hatton National Bank was recognized once again as we proudly received the prestigious Best General Bancassurance Provider award for the second consecutive year."
Sep
HNB Assurance PLC (HNBA) proudly joins hands with the rest of the industry to mark Insurance Month 2025, reaffirming its commitment to safeguarding the dreams, aspirations and financial security of Sri Lankans across the nation.In recent years, HNB Assurance has emerged as one of the most dynamic players in the sector, consistently delivering growth while earning the trust of its policyholders. Guided by a customer-first philosophy, the company has expanded its reach, refined its service delivery, and invested in technology to ensure protection remains accessible and relevant in today’s fast-changing world.Sharing his thoughts on the significance of Insurance Month, Mr. Lasitha Wimalaratne, Executive Director / CEO of HNB Assurance, stated, “Insurance Month is more than a celebration, it is a reminder of the vital role our industry plays in strengthening the resilience of individuals, families, and businesses. At HNB Assurance, we remain dedicated to deepening trust, driving awareness and creating value for our stakeholders through innovative solutions and a strong service ethos.”In terms of providing innovative solutions, HNB Assurance has been at the forefront of product innovation, introducing solutions tailored to evolving customer needs. Among its recent additions are Family Guard and Privileged Fast.“Our product philosophy has always been centered on people, their aspirations, their concerns and future. By continuously listening to our customers and understanding their requirements, we are able to create solutions that not only safeguard them from risk but also empower them to live with confidence.”, added, Mr. Wimalaratne.This year’s celebrations also come on the back of multiple recognitions for HNB Assurance, including being named the Best Life Insurance Company by Global Brands Magazine UK, winning the Life Insurance Sector Award at the National Business Excellence Awards, being recognized as the Best Life Bancassurance Provider, receiving the Great Place to Work Certification and being honored as one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces. Collectively, these accolades not only highlight the trust and confidence placed in HNB Assurance but also serves as a testament to the way the company continues to celebrate its people, its customers and its journey forward.As the company looks ahead, it remains committed to advancing the industry through customer-centric innovation, meaningful partnerships and sustainable practices. With Insurance Month serving as a platform to raise awareness and celebrate achievements, HNB Assurance continues to stand as a trusted partner in protection for all Sri Lankans.
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Aug
HNB Assurance PLC (HNBA), one of Sri Lanka’s leading life insurance providers, has once again been honoured as one of the nation’s most outstanding women-friendly workplaces at the 2025 Satynmag Women Friendly Workplace Awards. This accolade, which marks the fourth such recognition for HNBA, underscores the organisation’s enduring dedication to creating an inclusive, progressive and empowering work environment for women across all levels of the company.The Women Friendly Workplace Awards are designed to spotlight corporations that actively promote gender equity, cultivate inclusive leadership, and champion the advancement of women within the corporate sphere. In receiving this recognition year after year, HNB Assurance continues to demonstrate that its policies and practices are not only consistent but also continuously evolving to meet the changing needs of a modern workforce.“At HNB Assurance, we believe that an enlightened workplace is one where every individual, and especially women, feel empowered to grow, contribute and innovate,” said Mr. Lasitha Wimalaratne, Executive Director / CEO of HNB Assurance. “This recognition reflects not only our dedication to embedding best-in-class HR practices, but also our conviction that true organisational strength is forged through women-friendly policies, inclusive leadership, equitable opportunity and a culture that celebrates and cultivates excellence. My sincere thanks to Satynmag for this recognition. We are honoured to be recognised as a women-friendly workplace and remain steadfast in our commitment to setting new benchmarks for empowering women in Sri Lanka.HNBA’s Head of Human Resources / DGM, Mr. Navin Rupasinghe, reflected on the achievement stating “Over the years, we have introduced a series of targeted initiatives from wellbeing programmes and leadership mentoring to structured training and responsive grievance mechanisms which go beyond symbolic gestures and instead create a tangible impact in the everyday professional lives of our employees. Winning this accolade for the fourth time assures us that these interventions are not only appreciated externally, but are also deeply resonant internally, helping us to build trust and loyalty across the organisation. I wish to extend my sincere gratitude to the in.she committee, whose contributions have been pivotal in translating our vision into meaningful action, and who continue to drive the progress that we are proud to celebrate today.”
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Aug
HNB Assurance PLC, one of Sri Lanka’s fastest-growing insurance providers, has been recognized as the Best Life Insurance Company – Sri Lanka 2024 by Global Brands Magazine, UK. This international accolade emphasizes HNBA’s position as a strong player within the life insurance sector, continuously raising the bar in customer experience, innovation and industry excellence.Throughout the year, HNBA has been celebrated with numerous local and international accolades, including being named the Insurance Sector Winner at the National Business Excellence Awards and Runner-up for Excellence in Local Market Reach (National Level). The Company has also been recognized as the Best Life Bancassurance Provider by the Global Banking and Finance Review for five consecutive years, listed among the top 40 Best Workplaces in Sri Lanka and ranked 09th among large scale work places by Great Place to Work, honored as Sri Lanka’s Most Outstanding Women Friendly Workplace 2024 and acknowledged as a Company with Great Managers.These recognitions highlight the balance of HNBA’s focus on business performance, the strength of its people, and a culture that empowers growth, the very foundations that have made the Company one of the strongest and most respected players in the insurance industry today.Speaking about the award, Mr. Lasitha Wimalarathne, Executive Director / Chief Executive Officer of HNB Assurance, stated, “Being recognized as the Best Life Insurance Company by Global Brands Magazine is an honor, as this award validates the collective efforts of our dedicated team and our commitment to protecting the dreams and aspirations of our policyholders. Our journey of growth and recognition is driven by a simple principle, keeping our customers at the heart of everything we do, while embracing innovation and building trust across every interaction. Our strong financial performance reflects this and gives us the confidence to expand further in delivering meaningful protection to all Sri Lankans. My sincere thanks to the Global Brands Magazine for this recognition and I dedicate this award to every single person who is a part of the HNBA family.”
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