HNBA News

HNB Assurance PLC achieved a remarkable milestone by clinching the coveted "Best of Sri Lanka" award at the 37th Annual International ARC Awards, recognized as the world's largest and most prestigious competition for annual reports, held in New York. This significant achievement underlines the company's commitment to excellence in corporate reporting. The Annual International ARC Awards, honors organizations worldwide for their exceptional annual report publications setting the benchmark of annual reports. HNB Assurance's recognition of the all-encompassing 'Best of Sri Lanka' award, spanning across every sector, resonated with the very essence of its Annual Report's theme, 'Above All, We Rise' underscoring the company’s relentless pursuit of excellence and our ability to surpass every challenge. Mr. Lasitha Wimalaratne, CEO of HNB Assurance, expressed his delight at this accomplishment, stating, "I’m extremely proud of this recognition, to be named as the ‘Best of Sri Lanka’ across all sectors is definitely no easy task, especially when you are up against companies of all scales in the county. This award reflects our dedication to transparency and our commitment to providing clear and comprehensive report to our stakeholders, in a creative manner. This achievement certainly highlights the hard work and diligence of our entire team. My sincere appreciation to both our internal teams as well our agency partner Emagewise Pvt Ltd." CEO of HNB General Insurance, Mr. Sithumina Jayasundara, sharing similar sentiments opined, “Our journey at HNB Assurance Group has always been marked by our commitment to provide the best for our stakeholders, be it our customers, shareholders, employees or the communities we serve. This award for the 2022 annual report reaffirms our belief and motivates us as a group to continue on this journey where we strive towards excellence. I extend my heartfelt congratulations to all the teams involved for their exceptional efforts in elevating the HNBA group to be recognized as the ‘Best of Sri Lanka’. Ms. Punsirini Perera, CFO of HNB Assurance, emphasized the importance of transparent financial reporting, saying, "Trust is the cornerstone of the insurance industry. You can only be successful as a company when you earn the trust of your stakeholders. Being transparent helps you earn this trust and we have always believed in delivering financial reports that not only meet regulatory requirements but also engage and inform our shareholders, whereby earning their trust. I am very grateful to our team and to Emagewise for their tireless efforts which helped us earn this prestigious recognition."

A celebration of the remarkable accomplishments within its Partnership Channel, which includes partner Banks, Financial Institutions and Brokers was recently hosted by HNB Assurance at the Water’s Edge, Colombo. In an industry landscape which faced constant change and challenges, HNB Assurance’s partnership channel emerged as a frontrunner, recording an impressive growth in its Gross Written Premium (GWP) during the year 2022. Further, the company's Fee Income growth also surged during the year, underscoring its excellent performance and outstanding service standards. Speaking at the event Mrs. Rose Cooray, Chairperson of HNBA and HNBGI, stated, “I’m extremely happy to see our partnership channel lead the way and showcase such improvement, year on year. A remarkable growth in our Gross Written Premium for 2022 highlights our efforts and dedication. Further, these achievements are a reflection of our team's commitment along with the successful collaboration we have in place with our partners. While I express my heartfelt congratulations to all the winners, I’d also like to thank to the Management of all our partners for their contributions towards our growth” Mr. Lasitha Wimalaratne, CEO of HNB Assurance, sharing his thoughts at the event, stated, "Our success is not merely measured in numbers, but in the collective efforts of the exceptional individuals and teams who drive our progress. The support and skill of our partners have been instrumental in our growth journey and I’m extremely grateful to all of them. Moreover, the growth in our MDRT qualifiers year after year is a testament to the potential, we at HNBA possess for individual career growth. Further, I must state we as a team are determined to increase this number further, providing everyone with the necessary backing and support required to grow. My congratulations to all the winners today, may you grow from strength to strength.” With a contribution of 47% to the total company GWP in 2022, the Partnership channel plays a vital role in HNBAs overall performance. With an aim to improve on the achievements of the previous year Mr. Sanesh Fernando, Chief Business Officer, Partnership Business, stated, “I’m elated and proud of our incredible achievements over the past year. The success of this channel is not driven by a single individual but a collection of teams and individuals who work tirelessly towards achieving our common goal. As we celebrate and give away over 200+ awards and recognize our 117 MDRT qualifiers, I’m certain this platform will serve as an inspiration to the entire partnership channel and all our officers, propelling them to achieve even greater heights. I must also thank all partner Banks, Financial Institutions and Brokers for their continuous support.” The Partnership Awards 2023 extended its recognition beyond individual achievements, with the managers who played a pivotal role in fostering the channel's growth also celebrated. The grand awards which included the Hall of Fame award was received by Mr. K G C D Dharmakeerthi and the coveted Champion of Champions Award was won by Ms. K Subashini.

HNB Assurance clinched the prestigious "Insurance Distribution Initiative of the Year" at the Insurance Asia Awards 2023 for its groundbreaking branch expansion strategy. This initiation has propelled HNBA's growth trajectory, setting a new industry benchmark. The innovative branch expansion strategy, deployed by the Advisor Distribution Channel, focused on expanding its presence through four concepts: Incubator Model Branch, the City Branch, the Metro Branch and Virtual Business Hubs. This approach, which eliminates the need for expensive infrastructure and resources, has enabled HNB Assurance to expand its reach even further, tapping into new markets and attracting new customers in an extremely cost-effective manner. CEO of HNBA Mr. Lasitha Wimalaratne, expressed his thoughts on the recognition, stating, "We are deeply honored to receive the Insurance Distribution Initiative of the Year award from Insurance Asia Awards. At HNB Assurance, we remain committed to fostering innovation that benefits our customers and strengthens our position as a company. This recognition certainly underscores our efforts in creating a smart, customer-centric solution that drives growth. I believe that the Virtual Business Hubs represents the future of insurance distribution. By eliminating the need for physical locations, we can serve a wider audience while maintaining operational efficiency." Mr. Harindra Ramasinghe, Chief Business Officer – Advisor Distribution Channel, Stated, “This recognition is a result of our efforts as a team, where we constantly seek avenues to improve our customer touch-points efficiently. Our City Branch strategy allows us to leverage on our current infrastructure, enabling us to connect with new customers while our Metro Branch helps us approach smaller cities and towns, extending HNB Assurance's reach beyond major urban cities. Additionally, we have also introduced a new concept called the Virtual Hub Business Development Unit, which is a first in the Sri Lankan insurance industry. As a young company that continues to make impressive strides within the industry, we will continue to innovate and improve our position as the most trusted insurance services provider in the country.”