HNBA News

HNB Assurance PLC (HNBA) held its most eagerly anticipated night in the Company’s event calendar recently at Hilton Colombo. The event felicitated the top performers of the Sales Force for their outstanding and remarkable achievements recorded during the year 2021. The event was graced by Mrs. Rose Cooray as Chief Guest, the Board of Directors of HNBA as well as the Management of both HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI).

Expressing her thoughts on the day of celebration, Chairperson of HNBA and HNBGI - Mrs. Rose Cooray stated that “Tonight is a night of celebration of your remarkable and outstanding performance, reflected as both individuals and as teams. This convention will distinguish itself by virtue of the fact that, we honour and applaud your commitment and perseverance despite one of the toughest times we had to face in our lifetime. The tenacity that the sales force has displayed during these most challenging of economic conditions is quite exemplary.” Highlighting the key performance metrics HNBA has portraited during the year 2021, Ms. Cooray further stated that “The achievements that we have recorded during 2021 with an impressive growth momentum of 29% in terms of GWP is in no small measure due to the contribution from the sales force. I am indeed delighted by the achievements of HNBA Advisor Channel and have no doubt that even greater things will be forthcoming as the company moves ahead into the future infused with cutting edge technology and have at its disposal the best products in the market. I can assure confidently that we will be able to strive to new heights in this journey as one team.”

Reflecting on the outstanding performances of HNBA Sales Force, Chief Executive Officer of HNBA Mr. Lasitha Wimalaratne stated that “The devotion of each individual advisor which collectively upscales the overall performance of the Advisor channel is quite impressive, and it has clearly reflected on our business achievements during 2021. The synergy between each member of the  Advisor Channel has grown the company through the years to the stature and stability that it has achieved to date. Despite the most fluid and challenging market conditions, our Sales Force has proven once again that they are a group of talented professionals who can go for gold and mark a name for themselves. Furthermore, Mr. Lasitha also added “Tonight is dedicated for you to reflect on and celebrate your achievements and to further fine-tune it during the years to come. As a company which strives in delivering the best service to the customers, assuring them that they are provided with a Life Insurance solution to best satisfy their needs has always been possible as a result of the high quality, professional standards of our own Sales Force. I firmly believe that these achievements celebrated tonight will prove to be the starting block of greater things to come cascading into the future as we are poised to grow from strength to strength”

Chief Business Officer/ General Manager - Advisor Distribution Channel of HNBA, Mr. Harindra Ramasinghe expressed his views stating, “The impressive strength of the Salesforce of HNBA has clearly reflected in the financial achievements gained during 2021. The Advisor Channel of HNBA has made an indelible mark for itself as being a force to be reckoned with, seizing new market segments across the island and continually growing its footprint. Effective recruitment campaigns launched across the country has contributed immensely towards the highly professional and performance driven salesforce of HNBA. The Channel has grown from strength to strength from achievements pertaining to both local and global spectrums. I am confident that my salesforce to march onwards conquering every hurdle thrown their way to go on to prove their mettle.”

The HNBA Sales Convention honored 246 Advisors under categories of Bronze, Silver, Gold, Super Gold and Grand Awards. Amongst those golden trophies were the accolades for the Best Service Center, Best Zonal Manager, Best Cluster Manager, Best Regional Office Manager and awards for 71 MDRT qualifiers. The pinnacle award of the night for ‘Best Sales Advisor’ was awarded to Ms. Shamali Liyanage.

HNB Assurance PLC (HNBA) is a leading Life Insurance Company in Sri Lanka with a network of 64 branches. HNBA has been assigned 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 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., (HNBA) one of the fast-growing Life Insurance Companies in the country recorded a Gross Written Premium (GWP) of 4.3 Bn during the first half of 2022 which is an impressive growth of 37% compared to the comparative period last year. Whilst this growth is well over that of the industry which grew at 18%, it is also the highest growth recorded amongst the top 10 life insurers in the country.

Sharing his views, Chief Executive Officer of HNBA Mr. Lasitha Wimalaratne stated, “I’m extremely impressed to see this growth moment of the Company despite the challenges we had to face during the first half of the year, which is a reaffirmation of and a testament to the robust strategies that have been employed by the Company as we chart our course during these trying times. Both business lines of the Company, namely the Agency and the Partnership Channel have made great headway in tapping into diverse customer pools to offer a very robust full-bodied insurance proposition addressing the financial protection needs of a very discerning clientele. The business is also retooling itself with the latest in terms of technological capability to ensure that we stay reachable and relevant to the various markets that we operate in”. Mr. Wimalaratne also noted with deep appreciation the contribution of the Company’s Advisor Force, Bancassurance Team, Alternative Sales Team and the Distribution Management Team for their sheer hard work and unwavering determination which has delivered these impressive results in the most arduous of conditions.   

Chief Business Officer/ General Manager - Advisor Distribution Channel of HNBA, Mr. Harindra Ramasinghe expressed his views stating, “Amidst many challenges and negative impact caused by the economic turbulence of the country, the Advisor Force of HNBA has gone the extra mile to keep the business steady and growing, and I am extremely delighted to elaborate on the achievements we have recorded as a result of it.  During the first half of the year 2022, the Advisor Channel recorded a total GWP of LKR 2.4 Bn. The business continued to seize new and potential market segments across the country. The Advisor Channel showed a steady growth as several recruitment campaigns continued throughout the country. Whilst appreciating the dedication and efforts of the entire Advisor Force, Branch Network and Distribution Management Teams, with the direction of the Management, I’m sure the Advisor Channel will continue its growth trajectory during the second half of 2022”.

Mr. Sanesh Fernando, Chief Business Officer/ General Manager - Partnership of HNBA expressed his views stating, “The Partnership Channel delivered an exceptional performance during 1H 2022, setting new benchmarks in the market recording a GWP of LKR 1.8 Bn. As one of the key business channels of the Company the overall partnership network has grown and contributed immensely to the business, and I would like to convey my sincere gratitude to the entire Bancassurance, Broker and Alternate Teams for their continuous dedication. I also record our most heartfelt appreciation of all our Bancassurance partners without whose support achievements such as this would not have been possible.   I’m confident that, with the solid business strategies in place the Partnership Channel will continue to grow to new heights”.

HNB Assurance PLC (HNBA) is a leading Life Insurance Company in Sri Lanka with a network of 64 branches. HNBA has been assigned 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 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 (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) recorded a Gross Written Premium (GWP) of LKR 7.4 Bn depicting a steady growth of 31% during H1 of 2022.

Expressing her views on the financial performance of the Group, Chairperson of HNBA and HNBGI, Mrs. Rose Cooray stated, “It is indeed a great pleasure to announce that the HNB Assurance Group has achieved a 31% growth in GWP compared to the corresponding period of the previous year. In reviewing the performance of each business, the Life Insurance Company recorded a GWP of LKR 4.3 Bn showcasing a growth of 37% and the General Insurance business recorded a GWP of 3.3 Bn, depicting a growth of 23%. These significant results were recorded amidst a number of unprecedented economic and social challenges in the country. However, the resilience of our core business model and focus on capturing market segments with growth potential has led to yield these significant results. The commitment and dedication of the Management and staff members of HNBA and HNBGI coupled with the solid business strategies will surely take the HNBA Group to new heights.”

Mr. Lasitha Wimalaratne, Chief Executive Officer of HNB Assurance PLC. expressed his views stating, “I am delighted to share the impressive growth we have achieved despite the challenging market conditions and economic turbulence. During the first half of 2022 HNBA had a growth of 37%, recording the highest growth rate amongst the Top 10 Life Insurance Companies in Sri Lanka. This is a truly commendable achievement since we stand ahead of the industry growth rate of 18%. The Company’s Life Insurance Fund stands at LKR 22.6 Bn at the end of H1 of 2022 whilst the Capital Adequacy Ratio (CAR) of HNBA stood at 320%. This further reaffirms the Company’s financial stability as the CAR is well above the minimum stipulated rate of 120% as directed by the Regulator. Keeping to our promise towards our valued policyholders, HNBA settled Insurance Benefits and Claims amounting to LKR 1 Bn. These results are a depiction of our well-focused strategies, growth initiatives and synergy of all teams involved. The Management of HNBA remains confident of its competitive advantage and strong financial footing and is focused on what is ahead and seizing every opportunity to expand its footprint in the market.”Mr. Sithumina Jayasundara, Chief Executive Officer of HNB General Insurance Limited commenting on the progressive growth stated that “During this challenging period that we are facing as a country and as an industry as a whole, HNBGI was able to maintain a steady financial growth capitalizing on its service and operational excellence.  HNBGI recorded a GWP of LKR 3.3 Bn with a growth of 23%. During the period the Company settled Insurance Benefits and Claims amounting to over LKR 1.6 Bn showcasing a steady commitment to our valuable customers. Demonstrating the Company’s strong financial strength, the Capital Adequacy Ratio (CAR) of HNBGI stood at 235%, which is well above the regulatory requirement. HNBGI was adjudged the Best Insurance Company Claims Management Team - Sri Lanka 2022 by Global Banking and Finance Review and also as the Best General Insurance Company of the Year - Special Recognition Award at the recently held 3rd ICC Emerging Asia Insurance Awards 2021. Our team is set to continue its journey with a positive note capturing every growth opportunity in the market moving forward.”

HNB Assurance PLC (HNBA) is a leading Life Insurance Company in Sri Lanka with a network of 64 branches. HNBA has been assigned 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 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.