HNBA News

HNB Assurance PLC (HNBA) was awarded 'Best Bancassurance Provider in Sri Lanka 2021' under the 'Insurance and Takaful Awards' Category, by the Global Banking and Finance Review®. The Global Banking and Finance Awards® organised by the Global Banking and Finance Review® reflects innovation, strategy, achievement, and progressive and inspirational changes that are current throughout companies within the global financial landscape. Speaking about this remarkable achievement by the Bancassurance Channel, Chief Executive Officer of HNBA and its fully owned subsidiary, HNB General Insurance Limited (HNBGI), Mr. Prasantha Fernando stated, "We are extremely honoured to have been named 'Best Bancassurance Provider in Sri Lanka' for the year 2021, by a globally recognised research and evaluation institute, the Global Banking and Finance Review®. Maintaining stable and persistent operations over time, HNBA has been at the forefront in servicing the life insurance needs of the community, offering revolutionary solutions via a fully-fledged Bancassurance operation. This achievement would not have been possible if not for the support that we have always received from the MD/CEO, COO and the Management and Staff of Hatton National Bank, our Parent Company. Over the years we have been able to develop and refine our Banca Operations to provide a seamless service to the Bank’s clientele”. Sharing his thoughts, Chief Operating Officer of HNBA, Mr. Lasitha Wimalaratne stated, "This Award strongly defines the remarkable talent, strategy and action put in place by a committed team comprising of key personnel from HNB and HNBA. The Company's Bancassurance Channel has taken a collaborative approach putting together solutions that offer comprehensive coverage much in demand amongst the Sri Lankan population. I believe such a well-thought out approach has given dividends culminating in us being the recipient of this prestigious award. I wish to thank my team as well the team from the Bank for all their efforts in this remarkable achievement”. Sharing his thoughts, Head of Partnerships Business of HNBA, Mr. Sanesh Fernando stated, "This recognition is a testimony of true effort and teamwork, by the team in the Banca Channel at HNBA who have now made us the industry benchmark in the sphere of Bancassurance in Sri Lanka.  I also wish to thank the team at HNB for all the support extended to us”. 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.

Hatton National Bank PLC (HNB) and its fully owned subsidiary HNB Assurance PLC (HNBA), introduced an exclusive Group Life Cover for Members of CFA Society Sri Lanka, who hold HNB-CFA Co-branded Credit Cards. The benefits of this Cover are customised in accordance with the Prime GroupLife Policy of HNBA, and will provide financial coverage in the event of death, disability or critical illnesses. Members with the Credit Card can opt in for options that also include comprehensive coverage for their spouses.   "The partnership with CFA Society Sri Lanka has provided us with the opportunity to offer a credit card which performs the dual role of being a mode of payment and identification. We are delighted to take this opportunity to create a one-of-a-kind card in the financial industry and look forward to working with the CFA Society Sri Lanka to deliver such solutions", HNB DGM Retail and SME Banking, Sanjay Wijemanne said. Speaking on the tie-up, Chief Operating Officer of HNBA, Mr. Lasitha Wimalaratne stated, “HNB and HNBA have come together with this unique tie-up as an opportunity for both businesses that would also offer significant long-term value creation for our customers at CFA Society Sri Lanka. A holder of this special Credit Card can avail themselves the exclusively customised benefits of the Prime GroupLife Policy, including comprehensive coverage in the unforeseen events of death, Total and Permanent Disability Benefit due to an accident or sickness, Partial and Permanent Disability Benefit due to accident and also Critical Illness Benefit for 39 illnesses. As a revolutionary solution developed in association with our Parent Company, HNB, we trust that this exclusive offer would enhance value and provide peace of mind for Policyholders and their loved ones, in their needs for protection in the financial services spectrum”. 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 with 253 customer centres across the country, is one of Sri Lanka's largest, most technologically innovative banks having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Similarly, HNB was also declared the Best Retail Bank and Best Microfinance Bank in Sri Lanka for the second consecutive year at the International Finance Awards 2019, in addition to being recognized as the Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020. The bank further won the Award for the Best Retail Bank in Sri Lanka for the 11th time at the Asian Banker Awards 2020, in recognition of its sustainable growth and continuous improvements in processes, products and services amidst a challenging macroeconomic environment. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd. Image Caption
Left to Right: Vice President, CFA – Aruna Perera, Director, CFA – Ravindra Abeysuriya, President, CFA – Dinesh Warusavitharana, Chief Operating Officer, HNBA – Lasitha Wimalaratne, DGM Retail and SME Banking, HNB - Sanjay Wijemanne, Head of Partnerships Business, HNBA – Sanesh Fernando, Head of Network Management and Business Development, HNB – Supun Dias, Executive – Corporate Solutions, HNBA – Ashani Dharmasuriya.

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.