HNBA News

HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) recently held a series of forums focused on all employees with the aim of discussing the topic of biases and barriers and to further the agenda of equity within and outside organizational boundaries. This program featured sessions by Ms. Chiranthi Cooray, General Manager/Chief Transformation Officer of Hatton National Bank PLC and Non-Independent/Non-Executive Director of HNB General Insurance Limited and Professor Arosha Adikaram, Chair Professor of Department of HRM at Faculty of Management and Finance, University of Colombo, who have had a long-standing commitment towards “equity at workplace” agenda. Speaking at the forum, Ms. Chiranthi Cooray expressed her views stating, “Every year, during the month of March we come together to laud, celebrate and pay tribute to the spirit of womanhood, but it should not only be limited to March. Our commitment towards gender equality, breaking the bias and creating a difference where women are valued and celebrated should be renewed every day. Gender inequality manifests in the distribution of resources, work, power or even time. We must truly accelerate our efforts to break all barriers and norms and build a sustainable future of inclusion, diversity and equity for everyone”. Sharing her views, Professor Arosha Adikaram stated, “Every woman is strong, confident, and powerful in her own way and women have achieved great milestones both personally and professionally by immensely contributing to the development of today’s society and economy. As we celebrate the strength of women, we should ensure that women are recognized for their efforts, contribution, hard work, and for balancing multiple roles in their day-to-day lives. It is even more important for everyone in the society to help women to achieve their goals and dreams. Hence, is it crucial to build a world free of all forms of bias, discrimination and stereotypes and inspire women to love themselves, take care of themselves and achieve their heart’s desire”. In demonstrating solidarity to the agenda of breaking barriers, Mr. Lasitha Wimalaratne, Chief Executive Officer of HNBA and Mr. Sithumina Jayasundara, Chief Executive Officer of HNBGI shared their views and pled their fullest commitment. Mr. Dinuka Pattikiriarachchi, Chief Human Resource Officer of HNBA and HNBGI explained the provisions provided at policy level as well as practice to protect and develop all employees. He further explained the duty and responsibility of each other to promote fairness and equity for those who have a lesser voice. In conclusion he added, “Women are not defined by the choice of clothing, lifestyle, or profession but by her strength, knowledge, resilience, confidence, and courage.  Women across industries have achieved remarkable milestones and made great strides and whilst saluting all women for their strength and will power to challenge the society and make their voices heard, let’s pledge our support to promote equality, diversity and inclusion in everything that we do and say”. 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.

HNB Assurance PLC Group posted a Profit After Tax (PAT) of LKR 1.2 Bn for FY21. The Gross Written Premium (GWP) of the Group showcased an impressive growth of 22% recording LKR 12.6 Bn. Expressing her views on the Group’s performance, Chairperson of HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI), Mrs. Rose Cooray stated, “HNB Assurance PLC Group had a solid fourth quarter of fiscal 2021 and ended the year posting impressive financial results. Our strong performance during the year positioned both businesses as dynamic, agile and innovative entities and I’m extremely pleased with the continued strength and growth of HNBA and HNBGI. It is noteworthy to mention that the Life Insurance Business showcased a growth of 29% and the General Insurance Business showcased a growth of 13% recording GWP of LKR 7.1 Bn and 5.6 Bn respectively and the Net Income and Interest and Dividend Income of the Group surpassed LKR 13.7 Bn and LKR 2.5 Bn respectively. Total Assets of the Group surpassed LKR 35.9 Bn during the year”. Mrs. Cooray continued, “These results are an outcome of the Group’s well-curated business strategies and well-focused Management practices. The Group’s financial performance is proof that both companies have navigated through a dynamic and challenging environment and will continue to do so. With the solidity depicted through these numbers, the Board is confident that the Group will further consolidate its strong footing in the market during 2022”. Speaking on the financial performance of HNB Assurance PLC, Mr. Lasitha Wimalaratne, Chief Executive Officer stated, “HNBA ended 2021 delivering impressive financial results and continued its growth momentum amidst a challenging economic backdrop. In reviewing the performance of the business, HNBA recorded a GWP of LKR 7.1 Bn during FY21, depicting a growth of 29% and the PAT of HNBA for the year surpassed LKR 1 Bn, showcasing a growth of 38%. As a result of our commitment of taking care of our Policyholders and delivering superlative returns, the Life Insurance Business settled Insurance Benefits and Claims amounting to LKR 1.6 Bn during the year. Reaffirming the strong financial footing of the business, the Life Insurance Fund surpassed LKR 20 Bn during the year. HNB Assurance is well geared to improve its resilience to face the on-going market and economic challenges and to provide a distinctive experience to customers as well as other stakeholders”. Mr. Wimalaratne continued, “Taking the winning spirit of the business to new heights, HNBA produced a record breaking 164 Million Dollar Round Table (MDRT) qualifiers, including 05 Court of the Table (COT) and 02 Top of the Table (TOT) achievers in 2021. The Company received several awards and accolades during the year for its business excellence, service excellence and product excellence. Key amongst the accolades received were the Best Health Insurance Initiative of the Year Sri Lanka Award by Insurance Asia Awards, Best Bancasssurance Provider in Sri Lanka 2021 Award by Global Banking and Finance Review, The National Service Sector Silver Award and Top Ten Award for Industrial Excellence at CNCI Achiever Awards 2021. Demonstrating its commitment to gender balance and equality HNBA was recognized as One of Sri Lanka’s Top 10 Women Friendly Workplaces in Sri Lanka at Women Friendly Workplaces Awards 2021. This augurs well for the Company’s open culture where everyone has an equal chance to fulfil one’s dreams and aspirations.  I wish to reiterate that the business remains well-focused on what’s ahead and with agile business strategies in place, I’m confident that HNBA will continue to improve on its market share, profitability and drive towards the strategic vision set of the business”.  HNB General Insurance delivered a robust performance during FY21, recording notable results during the fiscal 2021. Sharing his views on the performance of HNBGI, Mr. Sithumina Jayasundara, Chief Executive Officer stated, “HNBGI recorded a GWP of LKR 5.6 Bn depicting a growth of 13% and recording a PAT of LKR 338 Mn. These results were recorded against a number of challenges presented by the continuation of a global pandemic. During the year, the business settled Insurance Benefits and Claims amounting to over LKR 2.5 Bn fulfilling its promise to its valued customers. From a segmental perspective, the Motor Insurance segment delivered an exceptional performance followed by Fire, Engineering and Marine Segments. During FY21, the General Insurance Contract Liabilities surpassed LKR 3.7 Bn”. Mr. Jayasundara further added, “HNBGI being an innovative and leading General Insurance service provider in the market has adapted a number of strategies to identify existing gaps in the market and to provide innovate and customer centric solutions to our customer-base. Facing several challenges caused due to adverse weather conditions and COVID-19 related challenges, the business has navigated through a volatile environment to record these impressive results. It is noteworthy to mention that during the year, HNBGI claimed a number of awards including the Motor Insurance Initiative of the Year - Sri Lanka 2021 by Insurance Asia Awards and the National Bronze Award for Industrial Excellence CNCI Achiever Awards 2021. In driving towards its ambitious targets and goals, the business has crafted short and and medium-term strategies for the year and the Management of HNBGI remains well-focused on expanding its operations, accelerating innovative technologies and improving execution to create a meaningful difference in the market”. 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.

HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) celebrated International Women’s Day on 8th March, 2022 by honoring and paying tribute to its female colleagues. HNBA and HNBGI as leading Life and General Insurance service providers in the country, have taken a number of measures to create equality, diversity and inclusion within the two organizations and promoting a healthy, work-life balance for all its staff members. Extending his wishes on International Women’s Day, Mr. Lasitha Wimalaratne, Chief Executive Officer of HNBA stated, “Every year on the 8th of March we celebrate the spirit of womanhood and laud their leadership traits, achievements, strength and courage, but in reality, the spirit of womanhood should be celebrated 24 x 7 x 365 as women are the guardians of our families, society and economy. In an effort to create and promote a culture of equality and inclusion and to make a real difference, HNBA has launched several initiatives and programs, especially to empower and motivate women at all levels to reach their career aspirations and goals. For striving to create a meaningful difference, HNBA was recognized among the Top 10 Women Friendly Workplaces in Sri Lanka at Women Friendly Workplaces Awards 2021 organized by the Chartered Institute of Management Accountants. This recognition augurs well for all our efforts to create a happy and safe workplace for all staff members. Mr. Wimalaratne continued, “In celebration of International Women’s Day, HNBA together with HNBGI launched Liya Harasara, offering a range of exclusive benefits for women during the month of March and April. HNBA will always be committed to doing what’s right and standing for its core values and beliefs and is committed to foster inclusion and equality and accelerate diversity for women to help reach great heights in their journey”.  Mr. Sithumina Jayasundara, Chief Executive Officer of HNBGI extended his wishes stating, “In today’s society, women play multiple roles amidst many challenges, barriers and hurdles with the ultimate objective of providing for their families and their loved ones. But most often, their contribution, hard work and dedication is undervalued and ignored by the society. It’s time we change this.  Empowering women is essential to sustainability of any business and HNBGI will continue to empower women at all levels and create space to grow, shine and prosper”. Mr. Jayasundara added, “HNBGI is committed to further amplify the voices of women across the organization and drive a cultural change by bringing women to the forefront and highlight them for their achievements, commitment and hard work. Whilst extending my wishes this International Women’s Day, I wish to reiterate that HNBGI is committed to stand beside women, creating a safe and happy place for women to grow and achieve their career aspiration”. Mrs. Sitari Jayasundara, Chief Legal and Compliance Officer and Board Secretary of HNBA and HNBGI stated, “I wish to extend my wishes on this International Women’s Day to all brave and strong women and I urge all women to keep going forth and stay focused on their goals, as we’re courageous and unstoppable”. Ms. Punsirini Perera, Chief Financial Officer of HNBA and HNBGI extended her wishes stating, “Women are strong, women are confident, and women are real go-getters. Over the years, as women we have achieved many milestones together and made history and let’s continue to do so and let nothing hold you back”. Sharing her views on International Women’s Day, Mrs. Geethani Saram, Head of Procurement and Support Services of HNBA and HNBGI commented, “Women across the country have made great strides in their respective industries and as women we should support one another to overcome day-to-day challenges, hurdles and barriers women face and help each other shine and grow”. Head of Customer Experience of HNBA Mrs. Shaaza Ossen stated, “On this day let’s celebrate and applaud all our efforts and hard work and what we have achieved as women in our lives. Let’s continue to raise our voices and build a truly happy and safe place for all women across the country”. 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.