HNBA Group Delivers a Solid and Enduring Growth in 2020

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) recorded a Profit After Tax (PAT) of LKR 1.175 BN for FY 2020, growing 16% compared to the corresponding period last year, whilst the Group’s Gross Written Premium (GWP) reached  LKR 10.4 BN for the year under review.

Sharing her views on the financial growth, Mrs. Rose Cooray, Chairperson of HNBA and HNBGI stated, “2020 undoubtedly was a challenging year to all of us. However, amidst the unprecedented adverse challenges presented by the outbreak of this global pandemic, as a Group, HNBA was able to surpass the LKR 1 BN mark in PAT for the second consecutive year, auguring well for the agility and resilience of the businesses to quickly recalibrate itself in the midst the unprecedented calamity to continue to create and deliver value to all its stakeholders”. Mrs. Cooray further added, “The Group remains well focused on what’s ahead and to further consolidate its firm footing in the market by curating its business strategies through efforts of cost optimization, strengthening the Group’s investment portfolio and seizing market segments with high growth potential. I wish to thank the Board of Directors as well as the CEO and the Executive Committees as well as the Staff and Management of both Companies for a job well done”.

Chief Executive Officer, Mr. Prasantha Fernando shared his thoughts stating, “Our teams proved their mettle last year, by maintaining their resolute focus on the end goal, driven by an agile mindset, the thirst for prompt and meticulous execution and being focused on digitalization; whilst as an organisation, our philosophy has always been Putting People First, be it staff, agents, contract staff and customers. In this regard, these results that we are indeed proud to present have being achieved without any curtailment of their remuneration or benefits. The Management Team was able to successfully manage the change process with regards to adapting and evolving to the new normal as well as embracing technology that helped us operate in environs within which movement was constrained. The Group was able to surpass the significant LKR 10 BN milestone in GWP with a growth of 5% compared to the corresponding period last year. Interest Income of the Group saw a growth of 11% to LKR 2.5 BN even in spite of the decreasing interest rate regime that we witnessed, driven by portfolio growth and sound investment strategies. Total Assets of the Group increased by 19% to LKR 31.7 BN whilst the Total Liabilities of the Group grew by 18% to LKR 23.5 BN. Whilst we are pleased to continue to be rated A (lka) by Fitch Ratings Lanka for ‘National Insurer Financial Strength Rating’, our Capital Adequacy Ratio (CAR) increased from 322% in 2019 to 338% in 2020 for the Life Business. HNBGI’s CAR too increased to 256% from 226% in 2019, both very well above the minimum regulatory requirements. Mr. Fernando further added, “new product development too was undertaken to enhance our service to specific segments of the market which saw HNBA launch two products aimed at strengthening our foothold in the health insurance space with the launch of SupremeHealth Max and SuperCI, while HNBGI came up with a novel concept in motor insurance called Pay As You Claim. I am confident that the team will take on 2021 with a fresh sense of purpose and vigour”.

HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 63 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. HNB General Insurance has been assigned a ‘National Insurer Financial Strength Rating’ of ‘’A’’ (lka) by Fitch Ratings Lanka Limited. 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 including the Great Place To Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.

HNBA and HNBGI Stays Committed in being the Best for their People.

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) received the Great Place To Work® certification for the review period of 2020, and was elected as Best Workplaces among the Top 40 Best Workplaces in Sri Lanka.

Sharing his views on the two Companies’ continuity in being best workplaces, Chief Executive Officer of HNBA and HNBGI Mr. Prasantha Fernando stated “Being elected as Best Workplaces is a great validation for the two Companies, as we are one family who are very attentive towards each other’s needs. It determines how well the Group has been true to its vision and core values, and also affirms that our people are happy and approve the Companies as their choice of an employer. In a challenging year, we have remained connected with our teams assuring them steady growth, and most of all, their place with us. Our actions during the Pandemic would speak volumes towards our commitment to our employees as we strongly believe actions would speak louder than mere words. I am confident of a bright and prosperous future together for HNBA and HNBGI, and I thank all the staff members for placing their confidence in the Company”.

Chief Human Resources Officer of HNBA and HNBGI, Mr. Dinuka Pattikiriarachchi also extended his sincere thoughts stating, “ A great workplace and a culture is not an overnight outcome. Rather it is a result of good leadership, long term planning and sustained practices.  What we have been awarded is a recognition of that. However, that does not mean we stop here. We will continue to invest in our efforts to create the best workplace one could hope to work for. I like to congratulate all the staff members of HNBA & HNBGI as this is their award which I was privileged enough to receive on behalf of them”.

HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 63 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. HNB General Insurance has been assigned a ‘National Insurer Financial Strength Rating’ of ‘’A’’ (lka) by Fitch Ratings Lanka Limited. 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 including the Great Place To Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.

HNB Assurance PLC Group Moves Ahead Strong and Resilient

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) announced its Corporate Theme for year 2021, ‘Moving Ahead Strong and Resilient’.  As such, the Group will focus on key drivers; Stakeholder Value Creation, Sustainable Growth and Stability.

Sharing his views, Chief Executive Officer of HNBA and HNBGI, Mr. Prasantha Fernando stated, “The dawn of another brand new year fills our hearts with hope, determination and courage to surpass our goals and realise our aspirations that we have set for ourselves both at HNBA and HNBGI. 2020 was a challenging year for all of us but the HNBA Group was able to deliver a steady performance, owing to its commitment, determination and resilience. This year’s Corporate Theme of HNBA and HNBGI is built upon what we consider as the very Core Pillars of our business strategy, Stakeholder Value Creation, Sustainable Growth and Stability. As HNBA steps into its 20th year in business, our teams are dedicated to create a difference by setting new benchmarks in terms of Service Excellence, Innovation, Transformation and Social Stewardship. The Management of HNBA and HNBGI firmly believes that with the direction of the Board and commitment of a dedicated team of professionals, the Group will strive to make a marked difference in 2021”. Mr. Fernando further added, “I take this opportunity to convey my heartfelt wishes to all our customers, shareholders, employees and their loved ones and that this new year will be one filled with peace, prosperity, good health and a sense of contentment”.

The lighting of the traditional oil lamp and kick-starting the new year was conducted in the form of a hybrid event keeping in line with the need for social distancing, attended by the Executive Committee led by the Chief Executive Officer and joined by the employees through a virtual platform.

HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 63 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. HNB General Insurance has been assigned a ‘National Insurer Financial Strength Rating’ of ‘’A’’ (lka) by Fitch Ratings Lanka Limited. 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 including the Great Place to Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.

HNBGI Launches ‘Pay As You Claim’, a Revolutionary Cover for Vehicle Owners.

HNB General Insurance Limited (HNBGI) recently announced the introduction of MotorGuard Pay As You Claim, a comprehensive vehicle insurance solution like no other. The flexibility of this modern plan offers peace of mind for vehicle owners to get their vehicles fully insured for the entire year by only paying a part of the premium.

Sharing his views on Pay As You Claim, Chief Executive Officer of HNBGI and its Parent Company HNB Assurance PLC (HNBA) Mr. Prasantha Fernando stated, “Pay As You Claim is the outcome of our innovative thinking, extensive market research and understanding the exact needs of our customers. The newest addition to our General Insurance portfolio provides the ideal solution that every vehicle owner seeks, a comprehensive cover for a lower cost and peace of mind. Pay As You Claim is also our way of rewarding and encouraging safe driving practices”. Mr. Fernando further stated, “Another highlight of this revolutionary product is that the cost benefit of Pay As You Claim exceeds the regular No Claim Bonus of a comprehensive cover if no claim is made for the year. We as a responsible General Insurance solutions provider have taken measures to do our best to make it one less of a worry for our customers by ensuring convenience and utmost comfort of knowing that their vehicle is given the best possible protection”.

Expressing his views on Pay As You Claim, Chief Operating Officer of HNBGI, Mr. Sithumina Jayasundara stated, “Developed with the objective of releasing the financial pressure off a vehicle owner, giving them comfort to tend to their activities safely, what’s unique to Pay As You Claim is that the insured is able to obtain full coverage for their vehicle for the entire year only by choosing to pay either 40%, 50% or 60% of the annual premium. In the event of an accident, the respective claim will be processed once the remainder of the premium is settled. By way of this, customers are all given the opportunity to experience the convenience of full insurance rather than having doubt linger in their hearts and minds on what’s best for their precious vehicle, and I invite all customers to contact their nearest HNBGI Branch, to get their Pay As You Claim Policy today”.

HNB General Insurance Limited (HNBGI) was incorporated in January, 2015 and specializes in Motor and Non-Motor Insurance Solutions, and is presently one of the fastest growing General Insurance Companies in Sri Lanka, with a network of 56 branches. The Company is ranked within the Top 100 Brands and has been awarded a ‘National Insurer Financial Strength Rating’ of ‘’A’’ (lka) by Fitch Ratings Lanka Limited and has obtained the Great Place to Work® Certification and is a fully owned subsidiary of HNB Assurance PLC. HNBA, the Parent Company specializing in Life Insurance solutions is ranked within the Top 100 Brands and Top 100 Companies in Sri Lanka and has won multiple accolades for Brand Excellence, Digital Marketing and HR Excellence and many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka and the South Asian Federation of Accountants.

HNBA and HNBGI Relocates Branch in Embilipitiya.

HNB Assurance PLC (HNBA) and its fully owned subsidiary, HNB General Insurance Limited (HNBGI) announced the relocation of its Branch in Embilipitiya recently. The ceremonious occasion was graced by the presence of its Chief Guest, CEO of HNBA and HNBGI, Prasantha Fernando, accompanied by the senior members of the management in HNBA and HNBGI as well as other distinguished guests.

Speaking at the event, CEO of HNBA and HNBGI, Prasantha Fernando articulated, “The Company holds a long-standing relationship of togetherness with its customers in Embilipitiya, providing them all-inclusive protection and the value of fringe benefits one can experience through the service of insurance to protect their belongings and those who are dear to them . Dedicated to serving this cause, today’s momentous occasion demonstrates the Group’s continued commitment towards giving our best to customers, in fulfilling their insurance needs. Whilst the Company is focused on actively undertaking the many service enhancement initiatives, it has been our notion that cutting edge facilities would deliver greater service satisfaction, and in turn would make a ‘happy customer’. Thus, it is no doubt that this Branch will drive greater levels of service excellence, further contributing to the Company’s value creation framework”.

Sharing his views, Chief Operating Officer and Principal Officer of HNBA, Lasitha Wimalaratne stated, “This Branch would fortify an already strong customer servicing attribute of the Group, fostering streamlined service delivery between our invaluable customers and staff. Therefore, I am sure the commitment of our staff would nurture our singular aim towards industry best, and achieve the many milestones of excellence for a successful future of HNBA and HNBGI”.

Chief Operating Officer and Principal Officer of HNBGI, Sithumina Jayasundara expressed his views stating, “Strong and stable branch operations within our General Insurance business is a key pillar of business growth. This new facility is a strong testament for our firm stand within the market, also assisting our business goals in challenging times”.

HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 63 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. HNB General Insurance has been assigned a ‘National Insurer Financial Strength Rating’ of ‘’A’’ (lka) by Fitch Ratings Lanka Limited. 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 of Accountants).

HNB Assurance and HNB General Insurance Earn Great Place to Work® Certification

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) obtained the Great Place to Work® certification upon meeting the global assessment standards and cultural audit requirements. Global people analytics and consulting firm Great Place to Work® is the global authority on assessing and benchmarking employee perception and organizational culture.

Sharing his views on this global recognition, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated “At HNBA and HNBGI, we continue to evolve and grow and this recognition is a testament to the continuous growth HNBA Group has demonstrated. This designation further validates our ethos, processes and practices and it solidifies our vision of sustained growth and creating a workplace of shared values, empowering culture and streamlined practices. As an organization spearheaded by values, people and processes, we firmly believe that we should continue to evolve and grow by understanding our people and their needs. Keeping this in mind, I firmly trust in achieving a brighter and stronger future for the two companies together, operating with each other in the ups and downs as one true family”.

Chief Human Resources Officer of HNBA and HNBGI Mr. Dinuka Pattikiriarachchi shared his views stating “Our values are deeply engraved in our people practices and processors. Our laid down behaviour framework works as a moderator for all our decisions from hiring talent to performance management, from compensation management to talent management etc. As a team, we understand the importance of consistency and continues improvement needed in fostering a happy work place. To do that we invest time and resources in understanding our people, their needs and changes in the business environment and I feel we are reaping the benefits of such investment now. This recognition is a significant milestone in our journey but surely not an end destination. Achievements of this nature will certainly provide more thrust to our efforts in creating a benchmark in Employee Satisfaction”.

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HNB General Insurance to Renew Personal Motor and Home Policies

HNB General Insurance Limited (HNBGI), the fully owned Subsidiary of HNB Assurance PLC (HNBA) wishes to inform all its Personal Insurance Policyholders that Motor and Private Dwelling risks due for renewal from 1st to 31st March, 2020 will be held covered by the Company on expiring terms.

Spokesperson for the Company stated that this decision was made considering the prevailing situation in the country and the limited mobility. Whist the Company requests all Policyholders to access its services through the 24×7 call center, Company website and other social media platforms, the Company urges all citizen to stay indoors and follow all procedures as directed by the Government of Sri Lanka to combat COVID-19.

HNB General Insurance Limited (HNBGI) was incorporated as a fully owned subsidiary of HNB Assurance PLC (HNBA) in January 2015, to give effect to the regulatory requirement of segregation of Life and General Insurance businesses. HNBGI specializes in motor and non-motor insurance solutions, and is presently one of the fastest growing General Insurance Companies in Sri Lanka, with a network of 56 branches.

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HNB Assurance and HNB General Insurance is Committed to Honor all Claims Related to COVID-19

HNB Assurance PLC and its fully owned subsidiary HNB General Insurance Limited will honor all claims both life and medical related to COVID-19.

The spokesman for both companies stated that Insurance Companies are not liable to honor claims when a disease is classified as a pandemic. However, as a responsible corporate citizen, it is our duty to stand by our customers and our nation at this time of dire need. Therefore, HNB Assurance, the Life Insurance Company will honor the life and medical claims made by its customers related to COVID-19. What’s more, for those policies with the Hospitalization Per Day Cover, payment will be made for the number of days a person is confined to a structured quarantine process (excluding self-quarantine). Further, the General Insurance Company, HNB General Insurance will honor all hospitalization claims pertaining to COVID-19 if any.

The Company requests all persons to limit their movements in public, and encourages people to access its services through the call centers and the companies web sites as well as other digital channels. Premium payments could also be made online.

The Company urges all citizens to act responsibly at this time, and do each one’s part in containing the spread of this disease in our country by practicing simple measures such as social distancing, hand and face hygiene and above all, if exposed to an infected person, to follow the procedures as directed by the Government of Sri Lanka.

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Preventive measures to avoid the risks of heavy rain.

Raindrops are pictured on the window of a car as a man holding an umbrella passes by during the rainfall in KathmanduPouring rain across the country, sudden climate changes, floods, diseases, and on top of all, do you worry on how these would affect you? If so, your worry is perfectly understandable, as such adverse weather brings about all concerns on how it would impact the routine of activities that all mankind lives upon. Hence, a few tips to ease the hassle.

  1. First and foremost, be on alert and spread emergency hotlines amongst those who are known and could be affected.
  2. Have emergency kits, first aid bags and backup lighting prepared to avoid any involvement in electricity fixings.
  3. If heavy rainfall continues to remain, keep an eye on weather forecasts on local media and social networking platforms.
  4. Try and avoid reasons to leave home unless otherwise it is absolutely necessary.
  5. If you are stepping outside, avoid open spaces and standing under tall trees or electricity poles.
  6. Avoid the use of electrical devices in wet conditions such as mobile phones.
  7. Disconnect/unplug power supply from home appliances.
  8. Check regularly water and drainage channels and conduct the necessary maintenance.

Protecting our People, Protecting Our Community: HNBA Conducts a Workshop on Cancer Awareness

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 workshop was 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 help in making a difference in their lifestyles which will ultimately have a positive impact on the wellbeing of our community”.

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