HNBA Wins Silver at SLIM NASCO

Rewarding many outstanding achievements in the field of sales at the recently held National Sales Congress (NASCO) organized by the Sri Lanka Institute of Marketing (SLIM), HNB Assurance PLC’s (HNBA) representative, K. M. Dullish was awarded the Silver Award for the category of Sales Executives and Sales Supervisors of Life Insurance. HNBA bagged this prestigious award upon meeting the relevant sales criterions of SLIM.

Sharing thoughts on this victory Chief Operating Officer of HNBA, Prasantha Fernando stated “Accolades of this nature are testaments of the true potential, commitment and the winning spirit of our sales team especially in achieving standards far exceeding all expectations. It is no doubt that the Insurance industry is a highly competitive industry and over the past few years we were able to witness victories of similar nature by overcoming the challenges faced”. Chief Business Officer of HNBA, Ivan Nicholas, congratulated the winner stating “We’re indeed honored to witness victories of our colleagues and this showcases the core strength, competencies and direction of the Company and I’m thankful to the Life Training Department and all our Insurance Advisors for their contribution and dedication to yield results of this nature”.

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41 Advisors from HNBA Qualify for MDRT

41 highfliers of the Advisor Force of HNB Assurance PLC (HNBA) qualified to participate at the Million Dollar Round Table (MDRT) conference, in Florida, USA which was held recently. MDRT is an independent association which was formed in 1927, with affiliations of over 43,000 Insurance and Financial service professionals attached to companies across the globe.

Sharing his thoughts, Chief Business Officer of HNBA, Ivan Nicholas stated “We are pleased at the honour of being able to produce 41 MDRT winners with a Court of the Table (COT) qualifier and a Top of the Table (TOT) qualifier. It indeed is a great prestige to have HNBA represented at this global gathering of top qualifiers in the industry. It is heartening to witness the efforts, dedication and commitment of our advisors resulting in such an achievement”.

HNB Assurance Continues to Grow Steadily

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) posted a Profit After Tax (PAT) of LKR 176 MN for the second quarter of 2017, reflecting a phenomenal growth of 332% compared to the PAT of LKR 41 MN recorded during the same period of 2016. The impressive performance of the Group reflected in all performance indicators. The Parent Company, HNBA posted a PAT of LKR 100 MN marking a growth of 54% while its subsidiary with a PAT of LKR  76 MN recorded a more impressive growth of 414% in PAT.

During the second quarter of 2017, the Group achieved a 22% growth in its Gross Written Premium (GWP), depicting a value of LKR 3.8 BN as against the GWP of LKR 3.1 BN recorded during the comparable period in 2016. The Life Insurance segment contributed a GWP of LKR 1,919 MN and the General Insurance segment contributed a GWP of LKR 1,901 MN to the overall GWP. The Life and General Insurance segments recorded Premium growth rates of 17% and 27% respectively. During the second quarter of 2017, the group recorded an investment income growth of 54% reaching a value of LKR 771 MN against LKR 500 MN recorded during the same period of 2016.  The Total Assets of the Group reached a value of LKR 16 BN and Investments in Financial Instruments reached a value of LKR 13 BN. During the same period the Life Insurance Fund and General Insurance Fund grew by 14% and 29% reaching values of LKR 10 BN and LKR 2.5 BN respectively.

Sharing her thoughts on the Group’s financial performance, Chairperson of HNBA and HNBGI Mrs. Rose Cooray stated, “We are indeed delighted to announce the results of another successful quarter.  Both Life and General Insurance segments have showcased steady revenue growths. The concerted and well targeted efforts the Group has taken throughout 2017 to grow profitable business has made both HNBA and HNBGI more resilient and competitive Insurance companies in the industry.  The Group continues to leverage on its core competencies in stabilizing its market share by delivering a substantial long-term value to our shareholders whilst meeting all our obligations to our valued customers with highest responsibility. These financial results are a testament of the Group’s continuous financial stability and its growth momentum”.

Speaking on the financial performance of the Group, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated, “Despite many tough challenges in a rapidly changing market, the Group has made significant strides by creating a stronger platform for growth by delivering a steady financial performance. This growth momentum of the Group showcases the strength of our business strategy and we are confident that both our Life and General Insurance companies will reach out as strong players in this industry”.

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A Protection Proposition for Your Employees from HNBA

HNB Assurance PLC (HNBA) unveiled its Group Life Product, offering four predefined packages that businesses could choose from in providing the financial protection that their staff need.

Speaking on the importance of providing a solid platform of protection to employees, Managing Director/CEO of HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI), Mr. Deepthi Lokuarachchi stated “we live in a period of time of rising costs and risks. In a tight economic backdrop, small and medium scale enterprises (SMEs) find it challenging to provide solid forms of protection plans for their employees due to higher underwritten premiums or under-evaluating the risk component associated. SMEs in Sri Lanka play a major role in today’s economy as it uplifts economic diversification. The Group Life product of HNBA is a lot more than a spring of protection for your employees. It provides a number of benefits to both employees and the comfort of knowledge to employers, that your employees are very well protected. Further, employers are able to benefit from this as a strategic measure in line with its human resource practices in order to cement and strengthen its employee – employer relationships as well the psychological contract with the organization, as we firmly believe that motivated and happy employees reflects the true values of an organization”.

Mr. Prasantha Fernando, Chief Operating Officer of HNBA elaborating on this product added “companies could choose from one of the four packages that we have to offer that ranges from just providing a basic life cover for one’s staff, to providing an annuity, to offering a comprehensive bouquet of covers that include critical illness, disability cover and hospital cash”.

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HNBA and HNBGI Relocate its Galle Branch

Striving for excellence and delivering value to its customers and stakeholders, HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) relocated its Galle Branch recently. The Branch offers a full spectrum of Life, General and Takaful insurance solutions.

Speaking at the opening, Chief Operating Officer of HNBA, Mr. Prasantha Fernando stated “The Company has been expanding its Branch network across Sri Lanka, offering the best protection plans for individuals and families to face the challenges of tomorrow. The Branch is located in the heart of Galle and offers a range of Life, General and Takaful Insurance solutions. The Branch offers an interactive customer experience intertwined with the expertise of our professional Insurance Advisors and staff helping customers select the best form of protection for themselves as well as their families both in Life and General Insurance”. Expressing his views, Chief Business Officer of HNBGI, Mr. Jude Benjamin stated “We’re indeed thankful to the team led by the Galle HNBA Cluster Manager Harishchandra Rajanayake and HNBGI Cluster Manager Madusha Kulathunga, for their dedication and support as well as for the efficient management of Branch operations and for their customer service excellence which has led the Branch to foster blooming results”.

The Branch is located at No. 46/1/1, Colombo Road, Kaluwella, Galle.

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