HNBA News

HNB Assurance and HNB General Insurance celebrated the Sinhala and Tamil new year with its staff at the Malay Grounds, Colombo on the 21st of April 2023. This highly anticipated event included a variety of fun-filled activities and traditional “Avurudu” games that brought all teams together, after a hiatus of three years. The “Avurudu” celebrations took place against the backdrop of HNB Assurance Group’s outstanding performance during the previous year, which gave added significance and meaning to the event. As an organization committed to promoting inclusivity and cultural diversity, HNB Assurance group, over the years have made a conscious effort to celebrate religious, cultural, and traditional events to bring their staff together and foster a sense of community within the organization. All participants expressed their delight as they were able to celebrate the Sinhala and Tamil new year together after a long break. Keeping the spirits up and maintaining the morale of the organization at an optimum has been a challenge over the past couple of years for various reasons. However, this event was an opportunity to embrace normalcy and give the HNBA and HNBGI teams a reason to celebrate – recognizing their tremendous dedication and hard work, which has largely contributed to the success of the group. The atmosphere was filled with joy and laughter as employees competed in games like Tug-of-war, Kanamutti, and Avurudu Kumaraya and Kamari. The participants clad in “Avurudu” attire and had a memorable time, unwinding and enjoying themselves – reinforcing the commitment of the company to fostering a culture of togetherness and camaraderie.

HNB Assurance PLC (HNBA) recorded an impressive growth of 26% in its Gross Written Premium (GWP) as at end December 2022 to reach LKR 8.9Bn. It is pertinent to note that this is in fact the highest GWP growth rate when compared with the Top 8 players in the Life Insurance industry in Sri Lanka, and is almost three fold of that of the industry which saw a growth of 9% . In terms of new business too, the Company was able to notch up a fantastic new business growth of 30% compared to last year which is almost 10 times as much as the industry average. Sharing his thoughts on the performance of the sales teams of the Company, Mr. Lasitha Wimalaratne, CEO of HNBA opined “our growth has been driven consciously by way of acquisition of long-term endowment business that would ensure sustained growth of the business into the future”. He further went on to add, “we as team fought tooth and nail in acquiring new business whilst also working tirelessly in maintaining policy persistency; both being extremely onerous endeavours in a what was the most calamitous of environments to operate in. I am indeed most grateful to our two sales teams: the Agency Channel and the Alternate Channel teams for their phenomenal efforts in this most resounding of achievements”. He went on to add that the year saw the unveiling of the flagship health proposition in SupremeHealth Unlimited. Apart from this the Company was also the recipient of many awards both locally and internationally further affirming the solidity and all-encompassing nature of the growth that the Company has acquired for itself. The Company has also been able to produce 194 Million Dollar Round Table (MRDT) qualifiers this year up from 164 produced a year earlier. The Company unveiled its new branch outlook during the year offering a totally new experience in terms of aesthetics, ergonomics and convenience to our customers and employees alike. Chief Business Officer / GM – Advisor Distribution Channel of HNBA, Mr. Harindra Ramasinghe expressed his views stating, despite the numerous obstacles posed by the remnants of the global pandemic as well as economic and political upheaval, the HNBA Advisor Channel demonstrated unwavering performance, significantly boosting business growth. The Channel was able to contribute 56% to the total GWP of the Company growing by 19% to reach LKR 4.8 Bn as at the end of 2022. The growth was made possible by the expansion of the channel to burgeoning markets throughout the country. Recruitments campaigns were conducted national wide resulting the growth of the Advisor Force as well. With gratitude to the Advisor Force, Field Management , Distribution Management Team and the Sales Training Team, I’m confident that this momentum will continue into 2023 as well. Our channel produced 83 MDRT qualifiers during the year which is indeed a significant achievement”.  Mr. Sanesh Fernando, Chief Business Officer / GM - Partnership Business, sharing his thoughts on the growth of the Alternate Channel stated “The Alternate Channel team recorded expectational results in 2022 with Total GWP growing by 34% compared to the previous year to reach LKR 4.2 Bn . The Channel was also honoured to have received the Best Bancassurance Service Provider for the third consecutive year by the Global Banking and Finance Review and stands as testament to the resilience and vitality of the channel. I wish to very sincerely extend by most heartfelt appreciation to the Management of HNB, Other banking partners and all the insurance brokers who have been a pillar of strength in our growth thus far, as well as to our other partners who have been part of parcel of our growth”. He further went on to add that “with the development of other alternate channels of business we are poised for a high growth trajectory and I’m confident that our team will no stone unturned in achieving the objectives set for 2023”. HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 64 branches. HNBA is a Life Insurance company with a rating of 'A-' (lka) by Fitch Ratings Lanka for 'National Insurer Financial Strength Rating'. Following the introduction of the segregation rules by the Insurance Regulator, HNB General Insurance Limited (HNBGI) was created and commenced its operations in January 2015; HNBGI continues to specialize in motor, non-motor and Takaful insurance solutions and is a fully owned subsidiary of HNB Assurance PLC. HNB General Insurance has been assigned a 'National Insurer Financial Strength Rating' of 'A-' (lka) by Fitch Ratings Lanka Limited. HNBA is rated within the Top 100 brands and Top 100 companies in Sri Lanka by LMD and HNB Assurance has won international awards for Brand Excellence, Digital Marketing and HR Excellence including the Great Place To Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.

HNB Assurance PLC, together with its fully-owned subsidiary, HNB General Insurance Limited, launched the 11th edition of Liya Harasara, an annual initiative aimed at paying tribute to the gracious spirit of womanhood and celebrating International Women’s Day. Sharing his views, HNBA's Chief Business Officer / GM- Advisor Distribution Channel, Harindra Ramasinghe, said, " It is a widely acknowledged fact that women are the backbone of any community, and play a crucial role in improving the quality of life for their families, as well as contributing to the growth of society and the economy. We are really happy to introduce Liya Harasara for the 11th straight year.  Over the years Liya Harasara has become one of the most anticipated initiatives in our calendar. This year’s edition of Liya Harasara offers a range of special insurance benefits and in addition, we have partnered with Lanka Hospitals, Vision Care, Eric Rajapakse, Swarnamahal, Chamathka, Pizza Hut, Taco Bel and Singer to offer exclusive discount schemes to our female policyholders”. Mr Sanesh Fernando, Chief Business Officer / GM – Partnership Business, sharing his thoughts stated “Through Liya Harasara, we aim to recognize all women for their invaluable contributions, and provide them with the support they need to fulfill their many roles with confidence and peace of mind. As we celebrate International Women’s Day, I take this opportunity to invite and all females to make the most of this unique offering. The benefits of the Liya Harasara campaign can be availed from the 1st of March to the 30th of April, 2023.” Liya Harasara is an exclusive offering tailored for women and includes a range of special benefits. This year marks the 11th consecutive edition of Liya Harasara, which highlights the long-standing commitment of HNB Assurance and HNB General Insurance to empowering women and recognizing their valuable contributions. "We are proud to support women on their journey towards empowerment and progress, and look forward to continuing this celebration and recognition for many years to come." Stated, Mr Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer of HNB Assurance. “We are committed to reevaluating and improving the Liya Harasara initiative, be it through the exclusive offers or the partnership we enter. We are delighted to have HNBGI this is year too, who have come forward to offer a free Personal Accident Cover for every motor insurance policy obtained.” The 11th edition of ‘Liya Harasara’ will offer an additional Free Life Cover of up to Rs. 1 Million for one year from HNB Assurance for Regular Premium Life Insurance policies. Moreover, a Daily Benefit for child birth and pregnancy related hospitalisation subject to maximum of 3 days per year would be offered to the Policyholder. In addition, ‘Liya Harasara’ offers a free Personal Accident Cover up to Rs. 500,000 for every Motor Insurance Policy obtained by females from HNBGI. HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 64 branches. HNBA is a Life Insurance company with a rating of ‘A -“(lka) by Fitch Ratings Lanka for 'National Insurer Financial Strength Rating'. Following the introduction of the segregation rules by the Insurance Regulator, HNB General Insurance Limited (HNBGI) was created and commenced its operations in January 2015; HNBGI continues to specialize in motor, non-motor and Takaful insurance solutions and is a fully owned subsidiary of HNB Assurance PLC. HNB General Insurance has been assigned a 'National Insurer Financial Strength Rating' of ‘A-’ (lka) by Fitch Ratings Lanka Limited. HNBA and HNBGI are rated within the Top 100 brands and Top 100 companies in Sri Lanka by LMD and HNB Assurance has won international awards for Brand Excellence, Digital Marketing and HR Excellence including the Great Place To Work® Certification. HNB Assurance was awarded the Best Bancassurance Service Provider in Sri Lanka by Global Banking and Finance Review and has won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.