HNBA News

HNB Assurance Group delivered impressive financial results for the 1sthalf of 2018, posting a Profit  After  Tax  (PAT)  of  LKR  805  MN.  The  1sthalf  PAT  is  inclusive  of  the regular  profits together  with  the  One-off  Surplus  which  arose  from  the  insurance  industry  valuation  rule change as well as the 1stquarter valuation of the Life Fund under the new valuation method. The profit growth thus reflected the 357% growth over prior. However, the resultant increase remains uniquely applicable only for the year 2018, the Company communication stated. The Group  recorded  a  Gross  Written  Premium  (GWP)  of  LKR  4.2  BN  depicting  a  growth  of  12% amidst  very  tight  market  conditions  when  compared  with  the  GWP  of  LKR  3.8  BN  recorded during the corresponding period of 2017. Sharing   her   views   on   the   financial   results,   Mrs.   Rose   Cooray, Chairperson  of  HNBA  and  HNBGI  stated,  “The  Group  has  made progress  during  the  first  half,  further  strengthening  our  footprint in  the  insurance  industry.  These  impressive  results  were  achieved amidst  many  economic  and  operational  challenges.  The  first  half operating  results  showcase  solidity  of  the  HNBA  Group  and  the improved  efficiencies  of  the  Life  and  General  businesses  and  the strategies   in   place   to   cater   to   the   insurance   needs   of   our community. Both businesses of the Group are committed to deliver value  to  all  stakeholders  as  well  as  to  further  consolidate  firm  standing  of  the  Group  in  the insurance industry”. Expressing   his   views   on   the   first   half   financial   results,   Mr. Deepthi   Lokuarachchi,   Managing   Director/CEO   of   HNBA   and HNBGI stated, “These results are an outcome of the Group’s well-founded  strategies  and well-focused  management  practices.  In a challenging   economic   backdrop,   the   Group   was   successful   in achieving a GWP growth of 12% during 1H 2018”. Speaking on the performance   of   each   business,   Managing   Director/CEO,   Mr. Lokuarachchi commented “classes such as motor and fire of the General   Insurance   business   showcased   an  impressive   growth while  other  classes  including  the  Life  Insurance  business  have  grown  consistently  with  the
market ratios of growth. Total assets of the Group reached LKR 20 BN and the investment in financial  instruments  surpassed  the  value  of LKR  16.5  BN.  As  at  30thJune  2018,  the  Life Insurance  Fund  reached  a  value  of  LKR  11.6  BN  and  the  General  Insurance  Fund  reached  a value of LKR 2.6 BN”. Speaking on the Group’s future prospects, Mr. Lokuarachchi added that the  Group  remains  confident  of  its  ability  to  deal  with  ongoing  and  imminent  challenges facing the business and to grow beyond benchmarks.

Taking  the  initial  step  to  create  awareness  on  the  causes  and  prevention  of  cancer, HNB Assurance PLC (HNBA) held a workshop for its staff recently. This workshopwas conducted  by  Dr.  Suraj  Perera,  Board  Certified  Specialist  in  Community  Medicine  and Consultant Community Physician of the College of Community Physicians of Sri Lanka. Sharing  his  thoughts  Managing  Director/CEO  of  HNBA  and  its  fully  owned  subsidiary HNB General Insurance Limited, Mr. Deepthi Lokuarachchi stated “as a business sworn take care of our community, we believe that real protection and care truly begin with individuals taking care of themselves and leading a healthy lifestyle and thereafter by encouraging  their  families  and  friends  to  follow  similar  steps.  In  the  backdrop  of  the launch of our Hope Cancer Insurance plan, we realized that a workshop of this nature will  help  in  educating  as  well  as  in  creating  awareness  firstly  amongst  our  staff for the  betterment  of  themselves  and  their  families  and  as  we  believe  that  our  staff would carry this message to the community as ambassadors of the brand”. Sharing his views on the Cancer Insurance Plan, Chief Operating Officer Mr. Prasantha Fernando  stated, “our lifestyles, health habits even hereditary conditions contribute to  the  development  of  a  cancer  and  cancer  can  touch  us  all  at  any  point  in  our  lives despite  our  social  strata.  Hence,  it  is  up  to  us  as  individuals  to  take  necessary measures  to  protect  ourselves.  The  cost  of  cancer  treatment  could  often  pose  a threat  to  family  savings  and  the  financial  foundation.  Considering  all  these  aspects, HNBA  launched  its  Cancer  Insurance  Plan,  „Hope‟  with  the  primary  objective  of providing a ray of hope through financial protection to those individuals and families to overcome this dreaded disease”. Speaking at the workshop Dr. Suraj Perera stated “this workshop was conducted with the   aim   of   creating   awareness   on   cancer   and   its   prevention.   Amongst   many contributing   factors   for   the   development   of   a   cancer,   unhealthy   dietary   habits, smoking,  consumption  of  alcohol  and  chewing  of  betel  are  identified  as  the  top
causes   for   cancer   and   it   is   important   to   communicate   these   to   individuals   as prevention with no doubt is better than cure. Workshops of this nature surely help in making  a  lasting  influence  amongst  responsible  individuals.  And  we  believe  that heightening  people‟s  awareness  on  cancer  and  its  precautions  is  the  first  step towards  fighting  cancer  and  will  helpin  making  a  difference  in  their  lifestyles  which will ultimately have a positive impact on the wellbeing of our community”.

HNB  Assurance  PLC  (HNBA) and its  fully  owned  subsidiary  HNB General Insurance Limited (HNBGI)relocated theRathnapura   Branchto   a   new business   premises. The   newly relocated  branch  offers  an array of Insurance productsinterwoven    with    an    excellent customer    service. The    branchincludes  a  spacious  atmosphere together  with  ample   parking  in   order  to   enhance  customer  experience   and   the convenience ofobtainingourinsurance solutions. Sharing  his  views, Chief  Operating  Officer  ofHNBA Mr.  Prasantha  Fernandostated “customer convenience has  been  a  key strategic  focus  of  the  Company  and we  have taken  several  measures  to  expandand  upgradeour  branch  network  in  order  to provide  convenience  and  easy  access  toour  growing  customer  base.  Our  branch network expansion will continue as it is pivotal to the growth and development of the business”. Chief  Business  Officer  of  HNBGI  Mr.  Jude  Benjamin expressed his views stating “as HNBA  and  HNBGI  continue  to  honor  the  unwavering  commitment  to  deliver  service excellence  to  its  customer  base,  branch  expansions  and  relocations  ensure  a  more convenient and  a  customer-centric  approach  and  we  will  continue  to  offeravibrant range of Life and General Insurance solutions through our expertise and capabilities”.