HNB General Insurance Grows Well Above Industry Growth Rates Amidst Volatile Conditions

HNB General Insurance Limited (HNBGI) a leading General Insurance service provider in the country recorded an impressive growth of 13% surpassing the industry’s growth rate of 2.8%, posting a Gross Written Premium (GWP) of LKR 5.6 Billion during the 12 months ended, December 2021. HNBGI surpassed the LKR 5 Billion GWP mark for the first time in the Company’s history and recorded the second highest growth in tier 01 & 02 categories.

Speaking on the performance of the Company, Mr. Sithumina Jayasundara stated, “Amidst many challenges and barriers during 2021, HNBGI held a firm stand in the market and was able to deliver these impressive results. The Profit After Tax (PAT) of the Company surpassed LKR 338 Million in FY21. Both Personal and Corporate Lines immensely contributed to the growth of the business by capturing market segments with growth potential. During the year the Company implemented several initiatives and structural changes to seize new market opportunities. In terms of Claims, HNBGI paid LKR 2.7 Billion for both Motor and Non-Motor segments. It is noteworthy to mention that the Company settled a total 1,458 COVID-19 related claims amounting to LKR 105 Million in 2021. These numbers reflect on our commitment to stand beside our customers in times of uncertainty”.

Mr. Jayasundara further added, For the Company’s stability and strong financial footing, the Fitch Rating of HNBGI was upgraded to ‘A+’ (lka) for ‘National Insurer Financial Strength Rating’. Taking its winning streak to new heights, the Company was awarded the Motor Insurance Initiative of the Year Sri Lanka Award By Insurance Asia Awards for its revolutionary motor product Pay As You Claim. The Management of HNBGI remains confident of what’s ahead and of HNBGI’s growth momentum in terms of business expansion, product and service excellence during 2022”.

Mr. Jude Benjamin, Chief Business Officer – Personal Line and Branch Network of HNBGI shared his views stating, “During 2021 HNBGI delivered a steady performance recording impressive results due to its well curated business strategies. Personal Lines and Branch Network recorded a GWP of LKR 3 Billion showcasing a significant growth. Categories such as Motor, Medical, Fire and Engineering immensely contributed to the growth of the business. The Company enhanced its technology initiatives as a response to the on-going market and economy challenges and to provide a superlative and meaningful experience to our customers”.

Speaking on the growth Mr. Sampath Wickramarachchi, Chief Business Officer – Corporate Line and Branch Network of HNBGI shared his views stating, “HNBGI continued to grow against a challenging economic backdrop, recording impressive results during 2021. The Corporate Lines and Branch Network recorded a GWP of LKR 2.4 Billion during FY21. During the year, the business strengthened its ties with the corporate community of the country and is well positioned in its differentiated portfolios to further expand the business by seizing new market segments and further consolidating its footprint in the market”.

Mr. Wickramarachchi added, “I wish to extend my sincere gratitude to all our stakeholders, especially the Broker Community and Financial Institutes for their continuous support to grow from strength to strength”.

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 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.

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.

Prasantha Fernando Appointed as Chief Executive Officer of HNB Assurance PLC and HNB General Insurance Limited.

HNB Assurance PLC Group announces the appointment of Mr. Prasantha Fernando as the Chief Executive Officer of its Life and General Insurance businesses succeeding Mr. Deepthi Lokuarachchi who served the Group in the capacity of Managing Director/CEO. In line with the Group’s retirement policy, Mr. Lokuarachchi will be stepping down from his position with effect from 20th July, 2020 upon reaching the age of 55.

Mr. Prasantha Fernando, a career insurance professional joined HNB Assurance as General Manager – Life in March, 2012 and has been serving the Company since then. He holds a Bachelor’s Degree in Mathematics and Statistics awarded by the University of Colombo and is also a Chartered Insurer with the Associateship of the Chartered Insurance Institute, UK. Mr. Fernando being an old boy of Royal College of Colombo has taken an active role during his tenure in the Company and brought about many transformational changes in the Life Insurance business of the Group. Prior to his engagement with HNB Assurance, he served Aviva NDB Insurance since 1992 when it was known as CTC Eagle Insurance. Mr. Fernando has also served the Association of Chartered Insurance Professionals as a Founding Member and was a past Chairman of the Life Insurance Forum of the Insurance Association of Sri Lanka and is an Executive Committee Member of the Insurance Association of Sri Lanka.

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. 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 Accountants).

Tips to cope the curfew & irresistible #SocialDistancing. ඇඳිරි නීති කාල සීමාව ඵලදායීව ගත කරමු. Road to prevent COVID-19.

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Sri Lanka, is seeing its way through to a never-before-experienced change of pace within its routine activities, as the world in its entirety is being forced into #lockdown. As at the 25th of March, 2020, nearly a quarter of the 7.8 Billion humans ( are giving in, having to live under restrictions to curb COVID-19. Nonetheless, let us without any hesitation recite the fact that, we do have the better half of hope left within us to cherish the pleasant wonderments that 2020 holds. A heartfelt thank you to the unsung heroes fighting this pandemic, as we dearly in our hearts and minds would not be able to pay our dues to them, anytime sooner.

However, at this viewpoint, we come to think that we are limiting ourselves to our households. But, on the contrary, we are revisiting the outer world powered by what is ‘digital’. Speaking of such, one might glue themselves to #Covid19, #LockDown or #SocialDistancing over Social Media, news sites and whatnot, keeping them together in one piece despite the lost freedom to walk out of their homes. As much as helpful this might be, keeping boredom at bay during the COVID-19 lockdown tends to arrive at its daunting boundaries forcing you towards uneasy turn of events.

Well we’ve got you covered! From revisiting the all-time favorite memory of reading a copy of ‘අඹ යහළුවෝ’, to learning Tamil so that you have an edge over the bilingual, here are a few simple and not so stressed out picks for the easement of your worries…

Read something long-lost in your shelves.

Amba Yahaluwo

It’s that moment of ‘walking down the memory lane’. Us Lankans got through our childhood well attached with the unforgettable read, ‘අඹ යහළුවෝ’ (Amba Yahaluwo). It’s no sci-fi, nor action-thriller, but, a pure blend of reality, Ceylonese spirit and nature that ultimately contributes to the making of one fine storyline giving us peace of mind about perspective. Keeping aside the transformation that we have undergone, running by the scented pages of ‘අඹ යහළුවෝ’ wouldn’t certainly cause you any regret. Indeed it would be wise of you to share this very taste of literature with your siblings, and perhaps, your children, as it is no wonder that at the rate we evolve such treasure would go hidden if it is not a done duty of ours to pass it on regardless of it being this particular book or any other book of olden days. Now is the time!

Watch something meaningful.

Keeping up with what was discussed above, there might occur a case of you not having a copy of ‘අඹ යහළුවෝ’ with you, or you being unable to find it in your house. You might as well turn to digital! ‘අඹ යහළුවෝ’ the tele, is available online, and the missing pieces are you, your family and a drink of coffee. If it interests you, there are more choices of good old teles such as ‘ගම්පෙරළිය’ (Gamperaliya) made available online at your convenience, given the growing 7.13 Million internet users in Lanka, a 34% share of the total population as at 2019 (Hootsuite).

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Grow something fruitful.

Curfew, is for the greater good. Authorities have taken responsible decisions for a worthy cause, and it is wrong of ourselves to judge. Since we all dearly hope to feed ourselves, and more importantly, our families, we tend to unknowingly create havoc attempting to do our shopping for groceries once the curfew is lifted. As we do need to steer clear of such cases and do our shopping responsibly, we also need to map out our plan for future scenarios that might be of similarity to this pandemic. In occasions as such, ‘perspective’ matters. Think ‘green’. Think ‘home-grown’. We could do our online research or turn to our parents or grandparents for further expertise on gardening. After all, gardening is no rocket science.

Learn something worthwhile.

Are you farsighted when it comes to your career? Or is it just about a LinkedIn account that says ‘Full professional proficiency’ in English and Sinhala? The United Nations Volunteers of Sri Lanka (UNVSL) is/was on the lookout for translators to aid the procedures pertaining to the prevailing situation of the country, and the globe. You might have taken lessons on languages in school or during any other academic courses, but in any case, if you discontinued to leverage the learning possibilities of such, it might have caused you the loss of an opportunity to help mankind taking up duty as a volunteer to  fight COVID-19. Regardless of your proficiency, there is no better time than now to allocate yourself some time to learn a language you are bad at. If it helps, perspective brings about the fact that, being able to speak and write multiple languages opens up the opportunity of gaining extra income, as companies tend to outsource work processes involving the duty of a translator. Learn Sinhala, learn English. Don’t stop… learn Tamil! Having born and raised in country with vast cultural differences, clinch the extra mile and earn yourself an add-on worthwhile.

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Practicing self-isolation, social distancing and adhering to all other guidelines to help prevent COVID-19 might be a bitter price of life’s hardships. But we’re in this together. And we will get through this. Know the circumstances. Do you duty. #TogetherWeCan.

Sithumina Jayasundara appointed as Chief Operating Officer of HNB General Insurance Ltd.

Image OneHNB General Insurance Limited (HNBGI), the fully owned subsidiary of HNB Assurance PLC (HNBA) announced the appointment of Sithumina Jayasundara to the position of Chief Operating Officer recently. With over 23 years of experience in different capacities, Sithumina holds a MBA from Cardiff Metropolitan University (UK), ACII (UK), ANZIF (Snr Assoc) as well as the status of a Chartered Insurer. Having Joined HNB General Insurance in July 2014, he was appointed to the Group Executive Committee in 2015 and subsequently promoted as the Chief Technical Officer of HNBGI.

He has obtained foreign exposure through different training programmes related to General Insurance and specialized in the field of Reinsurance. Sithumina is the Vice-President of the Sri Lanka Insurance Institute which is affiliated to the Chartered Insurance Institute of UK. He is also the founder Council Member of The Association of Chartered Insurance Professionals (ACIP) in Sri Lanka.

Sharing his comments, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated, “Sithumina has contributed immensely to the growth and development of the Company, and I am sure he will excel in his new role in steering this company in the future. He has the benefit of a very strong reinsurance background apart from his business acumen and keen technical insight. I wish Sithumina all the very best in his new appointment”.

HNB General Insurance Limited (HNBGI) was created 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. Thus, HNBGI effectively took over the General Insurance business, handled by HNBA prior to 2015. 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. 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.

Covid-19, a.k.a. Coronavirus; one of many reasons to put Insurance under the microscope.

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Stepping into a new decade where it is an era we expect the ‘revolutionary’ to happen in our lives, or, holistically speaking, in our society, yet many of us tend to be adrift of the unfavorable consequences, that one might often anticipate and still take on assuming “all is well”.

Not to ruin the mood, but, Rule No. 01; ‘No escaping uncertainties’.

2020 started off with an uneasy topic, ‘Coronavirus’. As the general public are well aware about the disease, the dos and don’ts, what is left is to practice what is preached.

Is that it though? Sit back.

Worst comes to the worst, you, or your loved ones could be affected by this condition. This could be for the unavoidable reasons such as having to work in crowded offices or public places, or having urgent overseas travel plans and so on. Counting in all your efforts to fight off this epidemic, you might come short of ‘the essential’. Insurance!

Yet another addition to the rule book is to question where you stand when it comes to Insurance. If you do have a policy, a world health outrage as such would challenge you to review what the extent of your coverage is. These could be raising concerns on the cost you have to bear, such as hospitalization bills, and moreover, overseas hospitalization. Thus, it is your responsibility to have a strong hold on your fallback plan. Having an open mind regarding such unexpected circumstances, it is your duty get you and your loved ones insured and have 01 less problem out of a 101.

Know the circumstances. Do your duty, and keep safe.

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.

Tips for driving safety in the rain.

Driving-Safety-In-the-Rain-3-e1551870149532The effect of soaring rain could often reach its crucial limits, and being mindful of such, it is also important that you conduct your on road chores abiding by the simplest, yet highly effective safety protocols for the one, and only one reason; Safety!  Safety, on this note implies to the end result of all necessary and recommended actions that you should take in order to avoid any cause of trouble on road due to adverse weather such as heavy rainfall. Here are a few tips for driving safety in the rain.

  1. Since you might be stepping out to attend to a duty that is unavoidable, it is wise to start off with checking the brakes of your vehicle.
  2. Also if your wiper blades are old or brittle you might need to consider replacing them so that there will be no cause of blurry vision.
  3. Your vehicle might have bad tires which significantly reduces traction on wet roadways. So keep an eye and do the needful of replacing them.
  4. As you set off on your journey, you should also keep in mind to drive slow on slippery roads.
  5. Applying brakes earlier and with less force might reduce the chance of skidding, which is also very crucial if your path meets cliffs and hills.
  6. It is very likely that hazy and foggy conditions might arise, therefore turning on headlights is beneficial and suggested to assist detection of other beings on road.
  7. As floods are most probable during such weather, you dare should not attempt crossing running water. Instead, find a safe place to park and remain until high water eases, as two feet of water can sweep away your vehicle.

Benefits of Home Insurance

Home insurance provides you with a financial protection in an event of disaster or an accident which involves your home.

  • Protects your most valuable assets

For many, the home they live in is a valuable asset. A home insurance policy can make it possible to pay for the needed repairs.  Damaged roofs, damaged walls or if you suffer a loss due to a fire, home insurance will provide you with financial protection.

  • Protects from natural disasters

This could be every homeowner’s biggest nightmare. Taking up the expenses of repairing a damaged house is not the kind of burden you want to put yourself and family through. Detailed home insurance plan covers you during natural disasters such as floods, landslide and earth quakes. Therefore in order to reduce uncertainty taking a home insurance plan is the best option.

  • Above all it proved a peace of mind

Getting your home insured will give you a luxury of peace of mind. Whether you own an apartment or a house, once you have selected your policy and paid your premium, protecting your property is no longer your responsibility but is the responsibility of the insurance company.


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”.