HNBA News

Bearing the vision of being the ‘Best in Class’, HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) unveiled its theme for 2020. Keeping an open mind about emerging market opportunities, challenges and trends, this theme focuses on a steadfast approach towards being the best in six fronts, namely; Service Excellence, Stakeholder Value Creation, Employee Happiness, Digital Transformation, Innovative Excellence and Social Stewardship. Taking on the motivational statement, “New Year, New Things”, this theme also elevates the renewal of the Company’s acts as a holistic approach to serve all needs of stakeholders, in terms of customer service, employee wellbeing and societal wellbeing. Sharing his views, Managing Director/CEO of HNBA and HNBGI Deepthi Lokuarachchi stated, “HNBA Group was able to end 2019 on a positive note, yielding significant results and growth prospects amidst several market challenges. During the past few years the Group was able to fulfil its promise by delivering superior returns to all stakeholders. Stemming from the vision to deliver Superior Returns to all stakeholders, we have derived Vision 2020 to be the ‘Best in Class’ and focuses on the said key areas. The constitution of these would help us providing a superlative service and sustainable returns to all our stakeholders to a greater extent”. HNB Assurance PLC (HNBA) is the one of the fastest growing Insurance Companies in Sri Lanka with a network of 62 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. 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 and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka and SAFA (South Asian Federation Accountants).

HNB Assurance (PLC) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) posted a Profit After Tax (PAT) of LKR 399 MN for 3Q19 despite many economic and market challenges. Being in line with the Group’s profit projection, the Group recorded a Gross Written Premium (GWP) of LKR 7.3 BN against a GWP of LKR 6.5 BN recorded during the corresponding period last year, reflecting a growth of 12%. Sharing her views on the financial performance of the Group, Chairperson of HNBA and HNBGI, Mrs. Rose Cooray stated, “during the third quarter, both Life and General Insurance companies continued to execute well on its sales strategies and initiatives to achieve a significant growth momentum and these results depict the robust performance of the Group amidst a macroeconomic downturn. The profits of the Life Insurance business grew by 15% excluding One-Off Surplus and Surplus Transfers recorded during the third quarter of 2018 and the General Insurance business depicted a growth of 19% compared to 3Q18. The Group is well pursuing its long-term growth strategies and is firmly focusing on growing market segments and avenues of solid revenue growth to further consolidate its footprint in the market. Together with the Board and the Management, we have taken an extensive and a comprehensive look at our strategic path and the Board remains confident of what’s ahead”. Speaking on the financial performance of the Group, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated, “amidst a very tight economic backdrop, segments of the Life and General business have performed to a satisfactory level yielding significant profit growths. The growth in profits stemmed in parts of the Group’s growing business portfolios of the Life Insurance business and key segments of the General Insurance business, in particular, segments such as Fire, Motor and Marine.” Mr. Lokuarachchi further stated, “during Q3 2019, The Life and General Insurance funds reached values of LKR 14.3 BN and 2.9 BN respectively. The total assets of the Group surpassed LKR 25.9 BN and the investments in financial instruments surpassed LKR 20 BN reaffirming our financial stability. The sustainable growth fueled by our business practices and customer-centricity together with performance-driven values have led the Life and General Insurance businesses to expand across all geographic segments and I’m sure that with this sustainable growth as the key business driver, we could deliver superior returns to all stakeholders”.   HNB Assurance PLC (HNBA) is the one of the fastest growing Insurance Companies in Sri Lanka with a network of 61 branches. HNBA is a Life Insurance company with a rating of A (lka) by Fitch Ratings Lanka for “National Insurer Financial Strength Rating” and has been recently included in the S&P SL20 Index. 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. 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 and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka and SAFA (South Asian Federation Accountants).

Celebrating those who outshined in the field of sales, the National Forum for Life Insurance Advisors (NAFLIA) took place for the 10th consecutive year at Waters Edge, Battaramulla on the 2nd of September, 2019. Taking stand at the premier event for life insurance advisors in Sri Lanka, HNB Assurance PLC’s Mr. M. P. C. Fernando of the Colombo North Branch was awarded with Gold for the Best Branch Manager Award under the Medium Company Category, at NAFLIA 2019. The event is annually organized by the Marketing and Sales Forum (MSF) of the Insurance Association of Sri Lanka (IASL) in a bid to support the continuing development of the life insurance sector in the country. Commending the achievement, Managing Director/CEO of HNBA and its fully owned subsidiary, HNB General Insurance Limited Mr. Deepthi Lokuarchchi stated, “we are greatly honored to note and appreciate that Mr. M. P. C. Fernando has won the accolade while, demonstrating a sustainable competitive edge of sheer commitment towards customer and the business, that of which our very own performers have proudly gripped. To have such outstanding performers in the market assures that the brand will continue to grow from strength to strength, and accolades such as these are the milestones of this remarkable journey”. Expressing his views, Chief Operating Officer of HNBA, Mr. Prasantha Fernando stated, “best wishes to Mr. M. P. C. Fernando, as this achievement is a testimony to the dedication, unwavering commitment and winning spirit. The insurance industry is a highly competitive and a challenging industry and members of our dedicated sales team have achieved many victories by overcoming all challenges prevailing in the market”. HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 60 branches.  HNBA is a Life Insurance company with a rating of A (lka) by Fitch Ratings Lanka for “National Insurer Financial Strength Rating” and “National Long- term 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.  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 and also won many awards for its Annual Reports at the Award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka and SAFA (South Asian Federation of Accountants).