HNBA News

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) recorded a Profit After Tax (PAT) of LKR 1.175 BN for FY 2020, growing 16% compared to the corresponding period last year, whilst the Group’s Gross Written Premium (GWP) reached  LKR 10.4 BN for the year under review.
Sharing her views on the financial growth, Mrs. Rose Cooray, Chairperson of HNBA and HNBGI stated, “2020 undoubtedly was a challenging year to all of us. However, amidst the unprecedented adverse challenges presented by the outbreak of this global pandemic, as a Group, HNBA was able to surpass the LKR 1 BN mark in PAT for the second consecutive year, auguring well for the agility and resilience of the businesses to quickly recalibrate itself in the midst the unprecedented calamity to continue to create and deliver value to all its stakeholders”. Mrs. Cooray further added, “The Group remains well focused on what’s ahead and to further consolidate its firm footing in the market by curating its business strategies through efforts of cost optimization, strengthening the Group’s investment portfolio and seizing market segments with high growth potential. I wish to thank the Board of Directors as well as the CEO and the Executive Committees as well as the Staff and Management of both Companies for a job well done”.
Chief Executive Officer, Mr. Prasantha Fernando shared his thoughts stating, “Our teams proved their mettle last year, by maintaining their resolute focus on the end goal, driven by an agile mindset, the thirst for prompt and meticulous execution and being focused on digitalization; whilst as an organisation, our philosophy has always been Putting People First, be it staff, agents, contract staff and customers. In this regard, these results that we are indeed proud to present have being achieved without any curtailment of their remuneration or benefits. The Management Team was able to successfully manage the change process with regards to adapting and evolving to the new normal as well as embracing technology that helped us operate in environs within which movement was constrained. The Group was able to surpass the significant LKR 10 BN milestone in GWP with a growth of 5% compared to the corresponding period last year. Interest Income of the Group saw a growth of 11% to LKR 2.5 BN even in spite of the decreasing interest rate regime that we witnessed, driven by portfolio growth and sound investment strategies. Total Assets of the Group increased by 19% to LKR 31.7 BN whilst the Total Liabilities of the Group grew by 18% to LKR 23.5 BN. Whilst we are pleased to continue to be rated A (lka) by Fitch Ratings Lanka for 'National Insurer Financial Strength Rating’, our Capital Adequacy Ratio (CAR) increased from 322% in 2019 to 338% in 2020 for the Life Business. HNBGI’s CAR too increased to 256% from 226% in 2019, both very well above the minimum regulatory requirements. Mr. Fernando further added, “new product development too was undertaken to enhance our service to specific segments of the market which saw HNBA launch two products aimed at strengthening our foothold in the health insurance space with the launch of SupremeHealth Max and SuperCI, while HNBGI came up with a novel concept in motor insurance called Pay As You Claim. I am confident that the team will take on 2021 with a fresh sense of purpose and vigour". 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.

Paying tribute to the gracious spirit of womanhood, HNB Assurance PLC and its fully owned subsidiary HNB General Insurance Limited announced the launch of Liya Harasara for the 9th consecutive year. Liya Harsara is an exclusive offering with a number of special benefits offered to all women in commemoration of International Women’s Day. Sharing his views, Mr. Prasantha Fernando, Chief Executive Officer of HNBA and HNBGI stated, “It is no secret that women are the backbone of any household and therefore take on a pivotal role in uplifting the quality of life of the family first, and also contributing immensely to societal and economic upliftment. A woman plays multiple roles in today’s society from being a caring daughter, to a loving mother, to a fearless leader and thereby strengthening and supporting those around her. Liya Harasara is our way of thanking all ladies and paying tribute to the unbreakable spirit of womanhood, so that you are very well protected and empowered to go beyond all boundaries to achieve the impossible”. Lasitha Wimalaratne, Chief Operating Officer of HNBA stated, “We are indeed pleased to launch Liya Harasara for the 9th consecutive year.  Over the years Liya Harasara has become one of the well sought after benefits in our portfolio. This year’s edition of Liya Harasara offers a range of special insurance benefits and in addition, HNBA and HNBGI have partnered with Durdans Hospital, Vision Care, Swarnamahal Jewelers, DoubleTreee by Hilton Weerawila and Singer Plus to offer exclusive discount schemes to Policyholders”. Chief Operating Officer of HNBGI, Sithumina Jayasundara stated, “Women are the center of our homes, society and economy and we have come together as a Group to honor and praise the unbreakable spirit of womanhood. We firmly believe that these special benefits would add value to the livelihoods of women and would boost their confidence to take on the challenges of tomorrow”. The 9th 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 and a gift voucher worth of Rs. 5,000/- for one child birth between 8th March to 31st December 2021, if Hospitalisation Benefit is taken and Policy being in force. 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. ‘Liya Harasara’ policy holders will also benefit from a range of special discounts from Durdans Hospitals, Vision Care, Swarnamahal, DoubleTree by Hilton Weerawila and Singer Plus.

"HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) received the Great Place To Work® certification for the review period of 2020, and was elected as Best Workplaces among the Top 40 Best Workplaces in Sri Lanka. Sharing his views on the two Companies’ continuity in being best workplaces, Chief Executive Officer of HNBA and HNBGI Mr. Prasantha Fernando stated “Being elected as Best Workplaces is a great validation for the two Companies, as we are one family who are very attentive towards each other’s needs. It determines how well the Group has been true to its vision and core values, and also affirms that our people are happy and approve the Companies as their choice of an employer. In a challenging year, we have remained connected with our teams assuring them steady growth, and most of all, their place with us. Our actions during the Pandemic would speak volumes towards our commitment to our employees as we strongly believe actions would speak louder than mere words. I am confident of a bright and prosperous future together for HNBA and HNBGI, and I thank all the staff members for placing their confidence in the Company”. Chief Human Resources Officer of HNBA and HNBGI, Mr. Dinuka Pattikiriarachchi also extended his sincere thoughts stating, “ A great workplace and a culture is not an overnight outcome. Rather it is a result of good leadership, long term planning and sustained practices.  What we have been awarded is a recognition of that. However, that does not mean we stop here. We will continue to invest in our efforts to create the best workplace one could hope to work for. I like to congratulate all the staff members of HNBA & HNBGI as this is their award which I was privileged enough to receive on behalf of them”. 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.