HNB Assurance Group (HNB Assurance and HNB General Insurance) delivered an outstanding performance in the first quarter of 2025, continuing its growth momentum and building on the success achieved in the previous year. The Group reported LKR 8 billion in GWP (Gross Written Premium): a 30% increase when compared to the same period last year and paid LKR 1.7 billion in Net Insurance Benefits and Claims during the first three months of 2025.
“Our focus has always been simple, grow our reach and give more value to our customers,” stated Mr. Stuart Chapman, Chairman of HNB Assurance and HNB General Insurance. “We have seen this approach really work for us, helping us stay competitive and continue the incredible growth we have maintained over the past several years. Whilst the Group’s GWP grew by an impressive 30%, the bottom line too grew by 28% to surpass the LKR 300 million mark during the period under review. Total Assets increased by LKR 5.7 billion, bringing the total assets of the group to LKR 68.1 billion. In addition, the group’s Financial Investments rose by LKR 3 billion during the period under review. This steady and consistent progress across the board indicates we are on the right track and on a good trajectory for the years to come.
Commenting on the company’s Q1 performance, HNB Assurance CEO Mr. Lasitha Wimalaratne acknowledged the team's hard work and strategic focus that contributed to these positive results. “Our Life Insurance business has continued its upward momentum, posting a Gross Written Premium of LKR 4.5 billion, a 36% increase compared to the same period last year. We are also proud to have grown our New Business Premiums by 37% and to have seen a 34% increase in long-term Endowment policies, when compared to last year.” He further highlighted the growth of the Life Insurance Fund, which surpassed LKR 41 billion in Q1, increasing by over LKR 3 billion within the quarter. Looking ahead, Mr. Wimalaratne emphasized the company’s readiness for upcoming regulatory and technological advancements. “As we gear up for the implementation of SLFRS 17 and continue to roll out our digital initiatives, we are positioning ourselves to deliver even better service to our customers while unlocking new growth opportunities.”
Mr. Sithumina Jayasundara, Chief Executive Officer of HNB General Insurance, shared his thoughts on the HNBGI’s performance. “The first quarter plays a pivotal role in shaping our momentum for the year, and I’m pleased to share that we have had a strong start, where we achieved the highest growth amongst the top 10 General Insurance companies, reaching a market share of 9.1%. Our Gross Written Premium reached LKR 3.6 billion, reflecting a 23% increase against an industry growth of 2% when compared to the same period last year. While the industry showed a degrowth in the non-motor segment, we delivered a remarkable 43% upthrust, reaching LKR 2.3 billion. On the financial front, we are pleased to report that our total assets have grown to LKR 11.9 billion, a clear reflection of our sustained financial stability and prudent management. During the same period, we paid over LKR 950 million in claims, standing by our customers when they need us the most. Despite the challenging external environment, we also recorded a 12% increase in profits, an encouraging sign that our strategies are delivering results. Looking ahead, now that vehicle imports are allowed, we see new opportunities for growth in the motor segment as well and with the progress we have made so far in other segments, we are confident that there's a lot to look forward to in the future.”
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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