Mr. Sithumina Jayasundara, Chief Executive Officer of HNB General Insurance Limited has been re-elected as the 20^th President of the Sri Lanka Insurance Institute (SLII). The appointment of Mr. Jayasundara was pronounced at the Annual General Meeting held on the 7^th of July, 2022.

An old boy of St. Anthony’s College, Kandy, Mr. Jayasundara is the current Chief Executive Officer, Specified Officer and Principal Officer of HNB General Insurance Limited, a leading general insurance service provider in Sri Lanka and counts over 26 years of experience in the Insurance Industry. Prior to joining HNB General Insurance Limited, he has led many teams and held several key positions related to Non-Life at Asian Alliance Insurance PLC, MBSL Insurance Company Limited, Janashakthj Insurance Co. Limited, and Eagle Insurance PLC. Mr. Jayasundara has obtained foreign exposure through different training programmes and conferences related to General Insurance and specializes in the field of Reinsurance.

Mr. Jayasundara is a founding Council Member of The Association of Chartered Insurance Professionals (ACIP) in Sri Lanka. He holds a Master’s Degree in Business Administration from the Cardiff Metropolitan University, UK, an Advanced Diploma in Insurance (ACII – UK) and holds the status of a Chartered Insurer and the Senior Associateship of the Australian and New Zealand Institute of Insurance and Finance.

The Sri Lanka Insurance Institute (SLII) is the premier insurance educational body in Sri Lanka and is in existence for over 40 years. SLIl’s main objectives are to instill and maintain the professionalism in the industry whilst encouraging and assisting studies in insurance and to create a social forum for its members.

Driven by an enduring commitment to enhance the scope of insurance in Sri Lanka, SLII has forged several affiliations over the years with recognized international bodies, including The Chartered Insurance Institute of London and the Insurance Institute of India to offer a broad range of recognized qualifications at Certificate, Diploma, and Advanced Diploma levels. In partnering with distinguished educational entities and conduct examinations on behalf of the Chartered Insurance Institute (CIl) UK, Insurance Institute of India, and the qualifying examination for the insurance advisors on behalf of the Insurance Regulatory Commission of Sri Lanka. The SLIl also offers Diplomas and Certificate courses relating to insurance. The Diploma of SLIl has been recognized as one of the best Insurance Diplomas in the South Asian Region and the institute has continued its international operations in Maldives as well.

The new council elected for the year 2022/2023

Sithumina Jayasundara – President, Mahendra Wilegoda – Vice President, Anushka Jayasinghe – Secretary, Sameera Dharmasena – Assistant Secretary, Chandima Sumanatunga – Treasurer, Kusum Thenuwara – Council Member, Kaumalee Amaradiwakara- Council Member, Rumesh Modarage – Council Member, Lachini Chithrasena – Council Member, , Saman Kumara – Council Member and Manura Perera – Council Member.

HNB General Insurance Limited (HNBGI), a leading general insurance service provider in the country recently introduced a cover for bicycles under its all-risk insurance policy. This cover offers several benefits to owners, providing peace of mind to enjoy their ride.

Sharing his views on the cover, Mr. Sithumina Jayasundara, Chief Executive Officer of HNBGI stated, “We are all currently navigating through challenging times, overcoming multiple hurdles, and as a business it’s all about being in sync with the times and endeavouring to innovate and offer solutions that fulfill needs of the market and help address pain points by providing peace of mind to our people. Keeping in line with the trend and growing demand for bicycles, HNBGI added Bicycle Insurance to its product bouquet to look after cyclists and their ride. I’m confident that this product will help riders enjoy their ride knowing that they are covered”.

Chief Technical Officer of HNBGI, Mr. Lasantha De Alwis shared his views stating, “Cycling which is a popular hobby has now become a way of life to most Sri Lankans. As we all know cycling has its own benefits and helps in keeping us healthy, fit and contributes to our psychological wellbeing while reducing the carbon footprint. As a sustainable business, HNBGI is happy to launch this timely product and this product could be obtained from your nearest HNBGI Branch”.

Mr. Harith Perera, Manager – Non-Motor of HNBGI explained the products features stating, “This innovative cover developed as an all-risk policy offered by HNBGI includes a Theft Cover, loss due to accidental damage, Personal Accident Cover, medical expenses due to accidental injury, Third Party Liability Cover, and other optional covers including Strike, Riot, and Civil Commotion Cover, Terrorism Cover and Burglary Cover”.

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 fast-growing General Insurance Companies in Sri Lanka, with a network of 56 branches. The Company is ranked within the Top 100 Brands in the country 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. The Company was awarded the Motor Insurance Initiative of the Year – Sri Lanka award at the Insurance Asia Awards 2021, and is a fully owned subsidiary of HNB Assurance PLC.

HNB General Insurance Limited (HNBGI), a leading general insurance service provider in the country offering innovative motor, non-motor and takaful insurance solutions was awarded the Best General Insurance Company of the Year – Special Recognition Award at the recently held 3^rd ICC Emerging Asia Insurance Awards 2021 in Kolkata, India, organized by the Indian Chamber of Commerce.

The 3^rd Emerging Asia Insurance Awards and Conclave was launched by the Indian Chamber of Commerce together with the Insurance Institute of India, Life Council of India, General Council of India, National Insurance Academy and PWC as process reviewers to acknowledge, recognize and honor the efforts made by Asian insurance companies to transform insurance industries of the region.

Chief Executive Officer of HNBGI, Mr. Sithumina Jayasundara expressed his views stating, “This special accolade is a testament to our sustainable business model and reinforces our growing footprint in the market. The business has retained its core philosophy of agility and innovation as a response to the widespread disruptions to businesses across the globe during the past year and have consistently innovated and transformed our operations, processes, and approaches to deliver the best possible general insurance solution in the market”. Mr. Jayasundara continued, “Whilst thanking Indian Chamber of Commerce for this recognition, I wish to extend my sincere gratitude to all our staff members, customers, shareholders and business partners for their trust, commitment and support. HNBGI remains confident of our journey ahead and we look forward to expanding our footprint in the market by raising the bar further and offering innovative, efficient, and timely solutions to our customers”.

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 fast-growing General Insurance Companies in Sri Lanka, with a network of 56 branches. The Company is ranked within the Top 100 Brands in the country 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. The Company was awarded the Motor Insurance Initiative of the Year – Sri Lanka award at the Insurance Asia Awards 2021, and is a fully owned subsidiary of HNB Assurance PLC.

HNB Assurance PLC Group delivered a robust performance during 1Q22, recording a Profit After Tax (PAT) of LKR 235 Mn, reflecting an impressive growth of 144%, compared to the PAT of LKR 96 Mn recorded during the corresponding period of 2021. The Group recorded a Gross Written Premium (GWP) of LKR 4.3 Bn depicting a notable growth of 33%.

Sharing her views on the Group’s financial performance, Chairperson of HNB Assurance PLC (HNBA) and its fully owned subsidiary, HNB General Insurance Limited (HNBGI), Mrs. Rose Cooray stated, “In spite of several macro-economic challenges prevailing in the market, HNBA and HNBGI delivered an outstanding performance during the first quarter of the year. Both HNBA and HNBGI held a firm stand in delivering these stellar results which contributed to the topline and profitability growth of the Group. These results demonstrate our customer-centric and well-curated business strategies in capturing markets with growth potential. The Life Insurance business recorded a GWP of LKR 2.3 Bn and the General Insurance business recorded a GWP of LKR 1.9 Bn, showcasing an impressive growth of 41% and 24% respectively. Other Revenue of the Group surpassed LKR 1 Bn during 1Q22 marking a 30% growth. During the period, Total Assets of the Group surpassed LKR 37 Bn and Financial Investments surpassed Rs. 30 Bn. The Investment Income of the Group for the period was LKR 938 Mn with an outstanding growth of 40% compared to corresponding period of the previous year and continued to maintain an investment portfolio with healthy credit quality.  The Group remains well focused on its clear motive to explore and capture new markets by providing an innovative and a superlative customer experience while maxing shareholder returns”.

Mr. Lasitha Wimalaratne, Chief Executive Officer of HNB Assurance PLC expressed his views stating, “HNBA concluded another successful quarter showcasing a steady and stable growth momentum, amidst increasing challenges in the external environment. During 1Q22 HNBA recorded a GWP of LKR 2.3 Bn, showcasing a stellar growth of 41%. During the period, the Life Insurance fund reached LKR 21.4 Bn. The Capital Adequacy Ratio (CAR) of HNBA during 1Q22 stood at 281%. This further reaffirms the Company’s financial stability as CAR is well above the minimum stipulated rate of 120% as directed by the Regulator. Owing to our promise, HNBA settled Insurance Benefits and Claims amounting to LKR 527 Mn”. Mr. Wimalaratne added, “These results are a testament to our well-focused strategies and collective efforts of all teams. Backed by an A+ (lka) rating for National Insurance Financial Strength by Fitch Ratings Lanka, the Management of HNBA remains confident of its competitive advantage and strong financial footing and is focused on what’s ahead and seizing every opportunity to expand its footprint in the market”.

Expressing his views, Chief Executive Officer of HNBGI, Mr. Sithumina Jayasundara stated, “During a challenging period for the entire insurance industry, HNBGI was able to deliver steady financial results capitalizing on its service and operational excellence. Surpassing the industry growth rates, HNBGI recorded a GWP of LKR 1.9 Bn showcasing an impressive growth of 24% during 1Q22. The Company continued to deploy its agile business strategies despite the on-going economic challenges and was able to seize several growth opportunities. The Miscellaneous and Motor Insurance segments delivered a notable performance followed by Fire and Engineering segments. During the period, the Company settled Insurance Benefits and Claims amounting to over LKR 830 Mn showcasing our steady commitment to our customers. Demonstrating the Company’s strong financial footing, the Capital Adequacy Ratio (CAR) of HNBGI stood at 247%, well above the regulatory requirement. The General Insurance Contract Liabilities surpassed LKR 4.2 Bn.” Mr. Jayasundara further stated, “As one of the two Fitch Rated General Insurers in the country with an A+ (lka) rating for ‘National Insurer Financial Strength’, HNBGI will continue to steer its course through many challenges to further consolidate its footprint in the market whilst sustaining our core business model and delivering value to all stakeholders”.

HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 64 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 and HNBGI are 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. HNB Assurance was awarded the Best Bancassurance Service Provider in Sri Lanka by Global Banking and Finance Review and has won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.

HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) celebrated International Women’s Day on 8^th March, 2022 by honoring and paying tribute to its female colleagues. HNBA and HNBGI as leading Life and General Insurance service providers in the country, have taken a number of measures to create equality, diversity and inclusion within the two organizations and promoting a healthy, work-life balance for all its staff members.

Extending his wishes on International Women’s Day, Mr. Lasitha Wimalaratne, Chief Executive Officer of HNBA stated, “Every year on the 8^th of March we celebrate the spirit of womanhood and laud their leadership traits, achievements, strength and courage, but in reality, the spirit of womanhood should be celebrated 24 x 7 x 365 as women are the guardians of our families, society and economy. In an effort to create and promote a culture of equality and inclusion and to make a real difference, HNBA has launched several initiatives and programs, especially to empower and motivate women at all levels to reach their career aspirations and goals. For striving to create a meaningful difference, HNBA was recognized among the Top 10 Women Friendly Workplaces in Sri Lanka at Women Friendly Workplaces Awards 2021 organized by the Chartered Institute of Management Accountants. This recognition augurs well for all our efforts to create a happy and safe workplace for all staff members.

Mr. Wimalaratne continued, “In celebration of International Women’s Day, HNBA together with HNBGI launched Liya Harasara, offering a range of exclusive benefits for women during the month of March and April. HNBA will always be committed to doing what’s right and standing for its core values and beliefs and is committed to foster inclusion and equality and accelerate diversity for women to help reach great heights in their journey”. 

Mr. Sithumina Jayasundara, Chief Executive Officer of HNBGI extended his wishes stating, “In today’s society, women play multiple roles amidst many challenges, barriers and hurdles with the ultimate objective of providing for their families and their loved ones. But most often, their contribution, hard work and dedication is undervalued and ignored by the society. It’s time we change this.  Empowering women is essential to sustainability of any business and HNBGI will continue to empower women at all levels and create space to grow, shine and prosper”.

Mr. Jayasundara added, “HNBGI is committed to further amplify the voices of women across the organization and drive a cultural change by bringing women to the forefront and highlight them for their achievements, commitment and hard work. Whilst extending my wishes this International Women’s Day, I wish to reiterate that HNBGI is committed to stand beside women, creating a safe and happy place for women to grow and achieve their career aspiration”.

Mrs. Sitari Jayasundara, Chief Legal and Compliance Officer and Board Secretary of HNBA and HNBGI stated, “I wish to extend my wishes on this International Women’s Day to all brave and strong women and I urge all women to keep going forth and stay focused on their goals, as we’re courageous and unstoppable”.

Ms. Punsirini Perera, Chief Financial Officer of HNBA and HNBGI extended her wishes stating, “Women are strong, women are confident, and women are real go-getters. Over the years, as women we have achieved many milestones together and made history and let’s continue to do so and let nothing hold you back”.

Sharing her views on International Women’s Day, Mrs. Geethani Saram, Head of Procurement and Support Services of HNBA and HNBGI commented, “Women across the country have made great strides in their respective industries and as women we should support one another to overcome day-to-day challenges, hurdles and barriers women face and help each other shine and grow”.

Head of Customer Experience of HNBA Mrs. Shaaza Ossen stated, “On this day let’s celebrate and applaud all our efforts and hard work and what we have achieved as women in our lives. Let’s continue to raise our voices and build a truly happy and safe place for all women across the country”.

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.

As part of its social stewardship initiative HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) recently made donations of urgently needed medical equipment and supplies to help in the fight against COVID-19. The staff of both companies too contributed a day’s salary towards this initiative.

As part of the 1^st phase of this initiative a Non-Invasive Ventilator (BIPAP/CPAP) was donated to the Chilaw District General Hospital. Ventilators are vital pieces of equipment used in the treatment of COVID patients as it assists in breathing. Further, the Kethumathi Hospital in Panadura, which is the one of the hospitals that specializes in Obstetrics and Gynecology received a Video Laryngoscope Portable Monitor and Laryngoscope Blade required for intubation for general anesthesia.

Prasantha Fernando, Chief Executive Officer of HNB Assurance and HNB General Insurance stated “As a responsible corporate citizen we have come forward to do our part in helping the fight against COVID in this country. Apart from the funds allocated by the Company, the staff of both companies came together to donate a day’s salary towards this cause. The suggestion to donate a day’s salary came to the Management from the staff and I am truly thanking all of them for this magnanimous gesture at a time of great national need. As part of this project other hospitals too will receive various equipment and medical supplies in due course”.

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.

Reaffirming the strength and stability of HNB Assurance PLC Group, Fitch Ratings upgraded the ‘National Insurer Financial Strength Rating’ (IFS) of both HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) from ‘A(lka)’ to ‘A+(lka)’ citing stable outlooks. 

The Rating Actions Commentary issued by Fitch on the 3^rd of June 2021 states “The upgrade reflects the insurers’ improved capital position, as measured by strong regulatory risk-based capital (RBC) ratios. The ratings also take into account the insurers’ ‘Favourable’ business profiles and a sustained improvement in their non-life underwriting performance, while maintaining satisfactory earnings in its life insurance operation.”

Sharing her views, Chairperson of HNB Assurance PLC Group, Mrs. Rose Cooray stated, “This indeed is another significant achievement for HNB Assurance as well as HNB General Insurance and demonstrates very clearly to the market the singular focus of both companies on maintaining and building their strength and stability. HNBA’s Life Fund has exceeded LKR 17.8 BN, HNBGI’s Contract Liabilities stood at LKR 3.5 BN while the Total Assets of the Group surpassed LKR 32.9 BN by the end of the first quarter of 2021.”  Mrs. Cooray further went on to state, “For our Group, it’s not business at any cost, rather, our drive is towards consolidated growth being driven through the focus on key business fundamentals and a prudent outlook to risk underwriting.” She further noted, “this rating upgrade augurs well for the soundness of strategies that have been crafted for both companies as well as for the capability and business acumen of the Management Teams. This will no doubt fortify our position in the market as a solid player and further infuse confidence in the mindset of key stakeholders to transact with both the Companies. I wish to thank each and every member of both teams for their dedication and commitment especially during these trying times that has enabled us to receive this upgrade in ratings by Fitch”.

Chief Executive Officer of HNBA and HNBGI, Mr. Prasantha Fernando shared his thoughts stating, “We are delighted to announce the news of this upgrade to all our stakeholders. The ratings of HNBA and HNBGI have been upgraded by Fitch Ratings upon reviewing the business profiles, the improved capital position, and the sustainable underwriting performance of both entities. Further, an upgrade of this nature demonstrates our consolidated financial strength, low business risk and solid operational performance. Whist thanking Fitch Ratings for this recognition and all our stakeholders for being with us throughout our journey, it is with great reassurance I state that the management of both entities remain confident of driving our performance up further and are well positioned for growth.” Mr. Fernando added “I am happy to note that the Group recorded a Gross Written Premium (GWP) of LKR 3.2 BN for the first quarter of 2021. The Life Insurance business posted a remarkable 51% growth in GWP achieving LKR 1.6 BN and the General Insurance business recorded a GWP of LKR 1.6 BN marking a 27% growth. It is noteworthy to mention that the market rank of HNBGI has improved by one notch to the 7^th position during the quarter with the growth in GWP.” Mr. Fernando further stated “the contribution of our Parent Company HNB too has helped us in this achievement and I am truly grateful to the Bank’s Corporate Management and the members of its branch network for all the support that they have given us.” Speaking on the contribution of the team, Mr. Fernando stated “each and every member of the HNBA and HNBGI teams have played a part in contributing towards this achievement, I am truly grateful and thankful to every single one of them for rallying around the Group and giving their best at all times. This upgrade has us all energized, excited and invigorated, and will, I am sure, further bolster the drive and passion of every team member to do better during these difficult 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 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 General Insurance Limited (HNBGI), the fully owned subsidiary of HNB Assurance PLC (HNBA) held its annual Town Hall Meeting recently to felicitate the top performers of the Company. This event was held in adherence to all COVID-19 safety guidelines set out by health authorities.

Mr. Prasantha Fernando, Chief Executive Officer of HNBA and HNBGI shared his thoughts stating, “We’ve all come together during these challenging times to celebrate and laud the dedication and commitment of our folk for going that extra mile, especially during such challenging times, uplifting the Company to strengthen the pillars of growth and stability. The General Insurance market has faced several market challenges following the outbreak of the pandemic but however, with their go-getter spirit and enthusiasm I’m sure our Sales Channels will conquer the market”.

Chief Operating Officer of HNBGI Mr. Sithumina Jayasundara expressed his gratitude and thanked the Sales Channels stating, “The Sales Channels are the backbone of our business and the Top Management is thankful to the members of this team for the superlative performance delivered during the first quarter of 2021. Whilst the General Insurance market is still recovering from the challenges and adverse effects posted by the outbreak of a global pandemic, the Management remains confident of the delivery of an exceptional service by our Sales Channels to cater to all General Insurance needs of our customers”.

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.

HNB General Insurance Limited (HNBGI) recently announced the appointment of Mrs. Chiranthi Cooray as a Non-Independant / Non-Executive Director. The appointment was approved by the Insurance Regulatory Commission of Sri Lanka.

Mrs. Chiranthi Cooray currently serves as the Deputy General Manager / Chief Transformation Officer of Hatton National Bank PLC. She leads key transformations in digital, tech, product, service and people strategies to drive growth and support achievement of mid to long-term goals of the Bank, whilst facilitating change management and delivering business value. Chiranthi serves on the Boards of CSR Sri Lanka (Guarantee) Ltd and the Advisory Board of AISEC Sri Lanka. She also serves as a Trustee of the HNB Sustainability Foundation. She is a Past President of the Association of Human Resource Professionals, Sri Lanka.

Chiranthi holds a Master’s Degree in Business Administration from the University of Wales (Cardiff Metropolitan). She is a Senior Certified Professional SHRM, USA, and a Certified HR Professional from IPMA, USA. She has completed the CIMA (UK) exams and is awaiting admission to membership. Chiranthi was awarded the HR Leadership Award for Global HR Excellence organized by the World HR Congress in February, 2015. She has also been awarded the Gold Category at the Women for Governance Professional & Career Women Awards 2014/2015 by the Women in Management for her exceptional contribution and achievements in the field of Human Resources. Under her leadership the Hatton National Bank PLC has achieved many local and international awards in the last 10 years in the HR and Sustainability spheres. In 2017, Chiranthi served as the Chairwoman of the National Task Force to recommend a strategic road map to increase female labour force participation in Sri Lanka for the National HR Development Council of Sri Lanka.

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.

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.