HNBA News

HNB Assurance PLC (HNBA) and the College of Community Physicians of Sri Lanka (CCPSL) entered into an MoU recently with the objective of creating awareness and educating the general public on a number of causes related to health and wellbeing.  Sharing views on the MoU, Deepthi Lokuarachchi, Managing Director/CEO of HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI) stated, “We’re pleased to join hands with CCPSL for the fourth consecutive year and to strengthen an ongoing partnership. HNBA as a socially responsible brand has taken several measures to educate the general public on health, wellbeing and safety and through this partnership we hope to educate and communicate the importance of a number of topics related to healthy habits, non-communicable diseases and wellbeing.  As a brand built on the core pillar of protection, we firmly believe that taking care of individuals themselves is the first step towards building a healthier nation”. Dr. Janaki Vidanapathirana, President of CCPSL, shared her thoughts on the MoU stating, “we are absolutely pleased to team up with HNB Assurance, a brand well known for being socially responsible. Over the past years CCPSL conducted a number of events Island wide with the aim of educating the general public regarding health and wellbeing. This year too CCPSL has introduced a theme ‘Shaping a Healthy Future: Youth as a Smart Investment’. Accordingly, CCPSL has planned to carry out a number of provincial, district and regional level activities including a number of health symposiums to communicate the importance of health and wellbeing. It is our belief that HNBA and CCPSL together will be able to contribute to the wellbeing of communities across the country”. HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 58 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 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).

Glorifying the spirit of womanhood on this International Women‟s Day, as a salutation for women across Sri Lanka, HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) declared the launch of „Liya Harasara‟ for the 7th consecutive year. Liya Harasara will be conducted throughout the month of March and April, offering numerous benefits for ladies. Expressing his views on the 7th edition of Liya Harasara, Prasantha Fernando, Chief Operating Officer of HNBA stated, “Women in the society we live in plays a pivotal role and holds a prominent place in the society by being leaders, entrepreneurs and great homemakers and Liya Harasara is our way of paying tribute and gratifying the spirit of womanhood across the country”. On the note of the above, Ivan Nicholas, Chief Business Officer of HNBA, shared his thoughts stating, “the 7th edition of Liya Harasara denotes the collection of an array of benefits and special offerings from HNBA and HNBGI along with leading brands, namely, Durdans Hospital, Singer Plus, Vision Care and Fashion Bug. Such benefits of Liya Harasara include a free life cover of up to Rs. 1 Million for one year from HNB Assurance for regular Premium Life Insurance policies. Furthermore, a Daily Benefit for child birth and pregnancy related hospitalization subject to maximum of 3 days per year would be offered to the policy holders. In addition, Liya Harasara offers ladies a free Personal Accident Cover up to Rs. 500,000 for every Motor  Insurance Policy obtained from HNBGI. Leading brands in Sri Lanka have partnered with HNB
Assurance further adding value to Liya Harasara policy holders with a range of special discounts. A discount of 10% from Durdans Hospitals for selected medical treatments, a discount of 5% from Singer Plus on mobile phone purchases and a discount of 10% on other  appliances, a discount of 15% for purchases that involve spectacles & sunglasses through Vision Care and a discount of 15% from Fashion Bug are amongst the inclusions”.

HNB Assurance Group delivered striking financial results for 4Q 2018, posting a Profit After Tax (PAT) of LKR 2.7 BN. This includes the regular profits for the period together with the One- Off Surplus which is resultant of the Life Fund Valuation rule change and the Deferred Tax asset of LKR 1.2 BN. The profit hence showcased a 241% growth in comparison to the corresponding period of 2017. However, the aforementioned One-Off Surplus will only be applicable for the year 2018. The Group recorded a Gross Written Premium (GWP) of LKR 8.7 BN against a GWP of LKR 7.8 BN recorded in 2017. Sharing her views on the financial results of the Group, Mrs. Rose Cooray, Chairperson of HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) stated, “HNBA and HNBGI have stood strong against numerous challenges prompted by economic factors prevailing in the market. Continuing its journey steadily, on the impressive growth trajectory commenced in the recent past, the two companies have delivered outstanding overall results in the current year. This has resulted in further reinforcing our firm standing in a highly competitive industry coupled with a healthy reputation and a favorable future outlook. The stellar performance is a result of the dedicated work of the two teams combined with the strategies and a number of practices introduced by the Group in relation to improving its efficiency and processes to provide a superlative service to its clientele”. Expressing his view on the Group`s performance, Managing Director/CEO of HNBA and HNBGI, Mr. Deepthi Lokuarachchi stated “with our focus on delivering value to our customers and shareholders these financial results denote the Company`s continued commitment to expand profitable lines of business and reassure a dominant position in the market”. Furthermore, Mr. Lokuarachchi added “Segments such as Motor and Fire of the General Insurance business depicted impressive results and the Life Insurance Business reflected a growth on par with the market rates. The total asset of the Group reached a value of LKR 22.3 BN and the investment in financial instruments surpassed a value of LKR 17 BN. The Life and General Insurance Funds reached values of LKR 12 BN and LKR 2.5 BN respectively. These results demonstrate the accelerating sales momentum and strong revenue growth of the Group and it is our belief that these results will continue to grow as we go forth in our journey”.