HNBA & HNBGI Relocates its Rathnapura Branch

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) relocated the Rathnapura Branch to a new business premises. The newly relocated branch offers an array of Insurance products interwoven with an excellent customer service. The branch includes a spacious atmosphere together with ample parking in order to enhance customer experience and the convenience of obtaining our insurance solutions.

Sharing his views, Chief Operating Officer of HNBA Mr. Prasantha Fernando stated “customer convenience has been a key strategic focus of the Company and we have taken several measures to expand and upgrade our branch network in order to provide convenience and easy access to our 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 offer a vibrant range of Life and General Insurance solutions through our expertise and capabilities”.


6 Tips to Stay Healthy This Rainy Season

Rainy season surely has its charms but when it comes to water-borne diseases it is important to protect yourself and your loved ones. Here are some useful tips to stay healthy during the rainy season.

  • Drink boiled water: It is important to hydrated during this rainy season. Drink boiled water or purified water to keep yourself hydrated and refreshed during the rainy season.
  • Wash your hands: Bacteria and viruses come alive during the rainy season and it is important to keep your hands clean. Wash your hands as frequently as you can.
  • Use mosquito nets and repellent: Malaria is the most common disease during the rainy season. Hence it is important to use a mosquito net or a mosquito repellent to keep yourself and your family safe. It is important to get rid of breeding spots for mosquitoes such as garden spots, old containers and other items that retain water.
  • Avoid walking in dirty water: Try avoid walking in dirty puddles during this rainy season as it could contain infection causing bacteria and viruses.
  • Avoid wet walls: Avoid leaning against and touch wet walls as they are a breeding ground for fungus which could cause asthma.
  • Eat healthy food: Avoid uncooked food and street food. It is advisable to stick to a healthy diet with vegetables and fruits to keep yourself healthy.



HNB Assurance Group Delivers Outstanding Financial Results for Q1 2018

HNB Assurance Group delivered a superlative financial performance, reporting a Profit After Tax (PAT) of LKR 699 MN for Q1 2018 reflecting a steady growth of 844% in comparison to the PAT of LKR 74 MN recorded during the corresponding period of 2017. This growth mainly resulted due to the transfer of One-off surplus of LKR 381 MN to Shareholder Fund from Non-Participating Policyholder Fund due to the change in liability valuation method and the surplus transfer made during the first quarter 2018 amounting to LKR 210 MN.

In analyzing the financial results of the period under review, the Group recorded a Gross Written Premium (GWP) of LKR 2.19 BN, depicting a consolidated growth of 15% in comparison with the GWP of LKR 1.9 BN recorded during the first quarter of 2017. The Parent Company, HNB Assurance PLC (HNBA) recorded a GWP of LKR 1.06 BN when compared with the GWP of LKR 988 MN recorded during Q1 2017. The subsidiary, HNB General Insurance Limited (HNBGI) recorded a GWP of LKR 1.14 BN against a GWP of LKR 929 MN recorded during the corresponding period last year, reflecting a growth of 22%. Together with the One-off Surplus, HNBA posted a PAT of LKR 658 MN for the period, recording a growth rate of 1,159% while the PAT excluding One-off Surplus and Surplus Transfers during Q1 marked a 28% growth. HNBGI recorded a PAT of LKR 41 MN when compared with the PAT of LKR 22 MN recorded during the first quarter of 2017, showcasing a growth of 88%.

Sharing her views on the financial results, Chairperson of HNBA and HNBGI Mrs. Rose Cooray stated “In a challenging period for the entire insurance industry, the Company was able to deliver steady financial results for the first quarter of 2018. These results showcase the effectiveness of our customer centric strategies and the Company’s day-to-day focus on operational efficiencies in capturing new market segments. These financial results reassure stability and the positive growth momentum of the Group and will continue to steer its course through challenging market conditions by focusing on its strengths, core competencies and synergies of the Group. It is pertinent to note that the PAT of the Life Insurance Company includes a surplus transfer of LKR 210 MN made as per the recommendation of the Consultant Actuary, subsequent to the valuation of the Life Fund as at the end of 1Q 2018. Further, the Company also transferred LKR 381 MN to Shareholders Fund, with the approval of the Insurance Regulatory Commission of Sri Lanka (IRCSL), as One-off Surplus arising from Non-Participating Life Insurance Fund due to the change in the valuation method of the Life Fund as per the regulations of the IRCSL. The one-off surplus will be kept as a Restricted Regulatory Reserve as per the Directions of the IRCSL.

Speaking on the performance of the Group, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated “In spite of several macro-economic challenges prevailing in the country, the Group was able to achieve a GWP growth of 15% during the first quarter. The Individual and Corporate policies of the Life Insurance Company and categories such as Fire, Motor and Marine of the General Insurance Company depicted a promising growth. During the first quarter, Total Assets of the Group reached LKR 19 BN and the Investments in Financial Instruments surpassed the mark of LKR 15 BN. The Life Insurance Fund and the General Insurance Fund reached values of LKR 10.9 BN and LKR 2.5 BN respectively”. Speaking on the Group’s future outlook Mr. Lokuarachchi added “These results are a testament to the efforts, strategies and the positive direction of the Group. The Group’s performance ambitions remain high as we continue to develop dynamic products and capture growing markets in both Life and General Insurance segments whilst sustaining our core business model to benefit our stakeholders”.


HNBA Holds its Annual Banca Award Ceremony

Felicitating the trailblazers of its Bancassurance Channel, HNB Assurance PLC (HNBA), held its annual Banca Award Ceremony recently at the Water’s Edge, Colombo. This glamorous event was graced by the presence of Mrs. Rose Cooray, Chairperson of HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI) as Chief Guest, together with Mr. Deepthi Lokuarachchi and Mr. Kalum Wijesooriya, and Members of the Senior Management of HNBA.

Sharing her thoughts at the event, Mrs. Rose Cooray stated “the Bancassurance Channel plays a significant role and makes a noteworthy contribution to the growth of the Company. The Banca Channel has shown a year-on-year double digit growth and the synergies between HNB and HNBA have created a set of dynamic expertise and an unmatchable competitive advantage. This natural fit surely reinforces our footprint and our market standing. HNBA is grateful for the support of HNB, the Parent Shareholder for strengthening this strategic partnership”.

Expressing his thoughts Mr. Deepthi Lokuarachchi, Managing Director/CEO of HNBA and HNBGI stated “I take this opportunity to thank the Bancassurance team of HNBA for their continuous dedication and efforts and the cooperation between HNB and HNBA has resulted in providing both financial and protection solutions under one roof. This strategic partnership has helped us in capturing growth in specific market segments across the country especially through the widespread branch network of HNB”.

Speaking at the event, Mr. Kalum Wijesooriya, Assistant General Manager, Deposits and Remittances & Chief Employment Experience Officer of HNB stated “this strategic partnership would enable both entities to broaden its scope in terms of capturing new market segments and building its clientele and the shared goals and intentions of HNB and HNBA would further strengthen this strategic partnership”.

Amongst the plethora of awards presented at this prestigious event, Ms. M. H. N. Sandamali attached to the HNBA Matara Branch was awarded as the Best Bancassurance Officer of 2017.

Image Caption: Chairperson of HNBA and HNBGI Mrs. Rose Cooray presenting the Award to the Best Bancassurance Officer together with the Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi, Chief Operating Officer of HNBA Mr. Prasantha Fernando, Chief Business Officer of HNBA Mr. Ivan Nicholas and Assistant General Manager, Deposits and Remittances & Chief Employment Experience Officer of HNB Mr. Kalum Wijesooriya.

A Continuing Partnership; HNB Assurance Join Hands with the College of Community Physicians for the 3rd Consecutive Year

Continuing its strategic partnership for the 3rd consecutive year, HNB Assurance PLC (HNBA) entered into an MoU with the College of Community Physicians of Sri Lanka (CCPSL). The primary objective of this partnership is to educate the general public on a number of topics related to health and wellbeing.

Sharing his thoughts on this strategic partnership, Managing Director/CEO of HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI), Mr. Deepthi Lokuarachchi stated, “with the changing attitude and behavior towards health and wellbeing, communities face various health-related challenges and threats in their day-to-day lives and as a brand committed towards the wellbeing of the community, HNBA has taken various measures to address these health related concerns and to propagate the concept of healthy living and this strategic partnership is one such measure to promote the concept of healthy living. Through this partnership we hope to educate communities on a number of topics related to health and wellbeing”.

Sharing her thoughts on the MoU, Secretary of the College of Community Physicians of Sri Lanka, Dr. Inoka Suraweera stated “We are extremely pleased to join hands with HNBA, a brand which has travelled an extra mile to propagate the concept of healthy living. Our environment has a significant impact on our health in various aspects and the changes to our environment including pollution, climate change and exposure to toxic chemicals cause serious threats to human life. And this year CCPSL has outlined a series of programs island wide following the theme, “Healthy Environment, A Healthy Investment for a Healthier Nation” to create awareness on environmental health and its impact on human life”.

HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 59 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).

Image Caption: L-R Dr. Nimali Wijegoonewardene, Assistant Secretary CCPSL, Dr. Inoka Suraweera, Secretary CCPSL, Mr. Deepthi Lokuarachchi, Managing Director/CEO HNBA and HNBGI, Mr. Prasantha Fernando, Chief Operating Officer HNBA and Mr. Dinesh Yogaratnam Head of Marketing HNBA and HNBGI