Celebrating 20 years of excellence, 20 years of protection, 20 years of friendship and 20 years of stories, HNB Assurance PLC (HNBA) announced the launch of a grand raffle draw for its existing as well as new policyholders. The draw would raffle out valuable gifts worth of Rs. 5 Million, including 20 gold coins as grand prizes. Sharing his views, Chief Executive Officer of HNBA and its fully owned subsidiary, HNB General Insurance Limited (HNBGI), Mr. Prasantha Ferando stated, “As HNB Assurance PLC prepares to celebrate its 20th Anniversary this month, we thought it fit that we give something extra by way of a raffle draw to our existing and new customers in appreciation of their patronage. Our 20-year journey of taking care of you, your loved ones and our community has been a memorable and a rewarding one, and every stakeholder has been an important part in our 20-year journey. As we prepare to celebrate this significant milestone, on behalf of the Management of HNBA and HNBGI, I wish to extend my sincere gratitude to all our policyholders for believing and trusting in us and for journeying with us for the past 20 years. Both HNBA and HNBGI are built on strong fundamentals, focusing on consolidated growth; this fact has been reaffirmed by Fitch as well in them upgrading the ‘National Insurer Financial Strength Rating’ of both companies to A+ recently. Therefore, I invite everyone to join us as we grow from strength to strength and allow us to secure your future for you”. Chief Operating Officer of HNBA, Mr. Lasitha Wimalaratne shared his thoughts stating, “We are delighted to announce the launch of a grand raffle draw in celebration of our 20th Year Anniversary. As this celebration marks two decades of assured protection and cherished relationships, we have decided to give away fabulous prizes to our existing and new policyholders. As such, every policy obtained between 1st August to 31st December, 2021 (except single premium policies) with a monthly premium of Rs. 5,000/- or more or an annual premium of Rs. 60,000/- or more and active as at 31st December, 2021 would be eligible for this grand raffle draw. Those policies obtained prior to 1st August, 2021 and active as at 31st December, 2021, irrespective of the premium value would qualify for the draw. This prize draw would raffle out a total of 120 gifts including 20 gold coins, each worth of Rs. 100,000/-. In addition, policyholders could be eligible to win 100 gift vouchers for home appliances worth of Rs. 50,000/-, Rs. 35,000/-, Rs. 25,000/, Rs. 20,000/- and Rs. 15,000/-. More details regarding this draw could be obtained from your nearest HNBA Branch, HNBA Insurance Advisor or HNBA Bancassurance Officer”. Mr. Wimalaratne further stated, “During the past 20 years, HNBA has had a stable and continuous growth becoming one of the top Life Insurance service providers in the country, offering innovate solutions to suit every need in life. Our journey of 20 years has been truly rewarding, and together we’ve surpassed many milestones. Whilst thanking our stakeholders for placing their trust in us, I wish to reiterate that HNBA will continue to strive for greater excellence”. HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 63 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.
Nov
HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) continued to build on their impressive performance, recording strong financial growth and achieving impressive operational success during the third quarter of 2024. With a focus on innovation, customer-centricity and expanding their market presence, both companies for the nine months ending September 30, 2024, reported a Gross Written Premium (GWP) of LKR 16.6 billion, a 22% increase when compared to the same period last year. This growth was fueled by HNBA’s GWP of LKR 9.9 billion, reflecting a 27% increase, and HNBGI’s GWP of LKR 6.7 billion, marking a 14% increase. Additionally, the Group’s PAT saw a notable growth of 26%, rising from LKR 583 million to LKR 734 million when compared to the same period last year. These exceptional financial performances were further fortified by the affirmation of Insurer Financial Strength ratings of HNBA and HNBGI as ‘A-’ (lka) from Fitch, with a stable outlook."Our robust performance this quarter speaks to the strength of our team and the focus we’ve maintained in expanding our reach," commented Mr. Stuart Chapman, Chairman of HNBA and HNBGI. “The year 2024, we navigated with careful optimism, mindful of the elections and the unpredictability they could bring. Despite these uncertainties, our teams not only anticipated the challenges but surpassed expectations, achieving outstanding growth targets. The Group's GWP saw a substantial increase of 22% compared to the same period last year. Meanwhile, the Group’s Assets grew by almost 15%, rising to LKR 58.9 billion, during the first nine months. Additionally, our total equity touched LKR. 10.6 billion and our life fund reached LKR 37.6 billion, a noteworthy increase of 23%, during the first 03 quarters of the year. These achievements reflect our commitment to sustainable growth, positioning us strongly for the future as we continue to create value for our stakeholders.” Added, Mr. Chapman.“I am delighted to note that we have continued to maintain our remarkable financial performance during the third quarter and maintain our position as the only fitch A- rated life insurance provider in Sri Lanka.” Stated Mr. Lasitha Wimalaratne, CEO of HNB Assurance. “Our Gross Written Premium has grown by 27%, reaching LKR 9.9 billion from LKR 7.8 billion when compared to the same period last year. The company posted a 6% growth in profitability by recording Rs. 550 million as profit after tax. It must be noted that the company is yet to recognize surplus from the Life fund which will be at the end of the year. An achievement which highlights the success of our strategic focus in offering accessible and innovative insurance solutions that truly resonate with the needs of our customers, through collaborations and new partnerships.”For HNBGI, the Q3 performance highlights its proactive stance in navigating challenges while seizing growth opportunities. Mr. Sithumina Jayasundara, CEO of HNBGI, commented, “Our commitment to improved underwriting and efficient claims management has been instrumental to our success. We continue to make considerable strides in offering tailored insurance solutions that resonate with our clients, which has helped us achieve a GWP of LKR 6.7billion, a 14% increase when compared to the same period last year. Our business and efficiency improvements allowed us to increase our profit after tax threefold, to reach a 187% growth when compared to the same period last year. Notably, our focus on diversifying our portfolio beyond motor insurance has yielded significant growth, with our non-motor segment growing by 22% when compared to the same period last year. Within this category, we saw remarkable performances in marine, fire, and engineering insurance lines, which have grown by 121% and 27%, respectively, highlighting our proactive strategy to expand into areas of high demand.”
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Nov
HNB Assurance recently hosted its annual staff conference, bringing together team members from all over the island for a day of celebration, recognition and fellowship. It was a night to honor the amazing people who are at the heart of HNB Assurances’ incredible growth, with awards for long service, excellence and standout achievements.Among the highlights of the evening were the Long Service Awards, recognizing employees who have been part of the HNB Assurance family for over 15 years. The Chairman’s Award, the night’s top honor, went to those who have truly gone above and beyond in their roles. The In.she Woman Empowerment Award celebrated women making an impact and the CEO’s Special Recognition award acknowledged employees achieving outstanding milestones outside their day-to-day work, especially in the field of sports.HNB Assurance CEO, Mr. Lasitha Wimalaratne, sharing his views during the event, stated, “There’s no denying that our success as a company is built on the dedication, talent and heart of our team. It is no small feat that HNB Assurance has been growing at double the rate of the industry for the past three years. This growth is a testament to the efforts of our people who don’t just fulfill their roles but go above and beyond every single day, shaping the very future of HNB Assurance. What I find particularly inspiring is how our people have stepped up to meet every challenge and opportunity that has come with our rapid growth. I couldn’t be prouder of all our award recipients tonight, congratulations and thank you for your hard work.”Head of HR / AGM, Mr. Navin Rupasinghe, highlighted the significance of HNB Assurance’s achievements, stating, “This conference is about celebrating our people and recognizing the values that make HNB Assurance what it is. Every award recipient has contributed in their unique way, and they continue to inspire us all to reach new heights. Our theme this year alludes to challenges that enable us to grow. Hence, this event is a testament to how HNBA continues to embrace challenges, remain resilient and reach ambitious heights.”Additionally, he went on to emphasize the importance of HNBA’s culture and the accolades that reflect it “We are proud to have been recognized as a Great Place to Work this year, a Company with Great Managers, one of the Most Mom-Friendly Workplaces and the recipient of the SLITAD People Development Award. As we look to the future, we want every member of our team to feel inspired to take on new challenges and reach their fullest potential. Hence why this year’s conference theme is, “Challenging You to Grow”, because when our people grow, HNB Assurance grows.” Added, Mr. Rupasinghe.
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Nov
HNB Assurance received two Bronze awards at the prestigious Dragons of Sri Lanka 2024 Awards, held in Malaysia. The company's innovative Dola Duka campaign and Independence Day campaign were celebrated in the Small Budget, Big Impact category and Best Brand Building and/or Awareness Campaign category, respectively. This prestigious international award shows the company’s commitment to keeping up with trends and effectively sharing its message with the public.Commenting on the company’s latest achievement, Lasitha Wimalarathne, CEO of HNB Assurance, stated, “We are truly happy and proud to receive these accolades as they serve as a testament to the creativity, strategic thinking and collaborative effort that goes into every campaign we run at HNB Assurance. Our focus has always been to create meaningful and impactful campaigns that can resonate with our audience and the results we’ve seen along with such recognitions reaffirm our approach and strategy. I’d like to take a moment to commend and extend my gratitude to both our internal teams and partners for their efforts in bringing these ideas to life and driving these accomplishments on an international stage.”Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer/General Manager of HNB Assurance, also shared his thoughts on this remarkable achievement: “This is a proud moment for us at HNB Assurance as we take home not just one but two Dragons at this year’s awards. Winning at last year’s Dragons of Asia Awards set the bar high for us, but our team’s continued focus on meaningful storytelling has proven to be a winning formula. In a competitive landscape, we had to also be innovative with our communications mix, finding fresh ways to break through the clutter and make a memorable impact. I would like to thank Dentsu Communications Sri Lanka and Kites Global for their partnership, which have been integral to our campaign’s success.”
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