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HNB General Insurance Limited (HNBGI), a leading Motor and Non-Motor Insurance service provider in Sri Lanka, was awarded the ‘Motor Insurance Initiative of the Year - Sri Lanka’ by the Insurance Asia Awards 2021 for the innovative insurance solution, ‘MotorGuard Pay As You Claim’.
Pay As You Claim is a revolutionary insurance solution which gives customers the choice of paying 40%, 50% or 60% of the premium, to comprehensively cover the vehicle for the entire year. In the event of an accident, the claim will be paid once the policyholder settles the remainder of the premium. 
Speaking regarding this achievement, Chief Executive Officer of HNBA and HNBGI, Mr. Prasantha Fernando stated, “We are extremely honored to have been recognized for the ‘Motor Insurance Initiative of the Year - Sri Lanka’ for the most recent addition to the general insurance product bouquet, ‘Pay As You Claim’, by Insurance Asia in their 2021 award line up. Maintaining a reliable and customer centric outlook throughout the years, HNBGI has been in the forefront of providing meaningful motor and non-motor insurance solutions to our customers through an array of innovative solutions. This award reflects the functionality and relevance of the product to our customers and is a testament to innovativeness of the product. I’m thankful to the HNBGI team for their efforts in introducing this timely product to the market”. 
Sharing his thoughts, Chief Operating Officer of HNBGI, Mr. Sithumina Jayasundara stated, “This award strongly amplifies the unique strategies and actions put in a place by a devoted and highly skilled team to develop such a product with very distinctive features. Pay As You Claim is the outcome of understanding the ever changing needs of our customers as well as the existing gap in the market. The Company has taken a collaborative approach in developing products that offer comprehensive solutions to cater to the needs of our customers, and I believe that Pay As You Claim will surely set new benchmarks in the industry. Whilst saluting the team behind Pay As You Claim for all their efforts and winning this accolade, I wish to reiterate that the Company will continue to develop products that are innovative and more attuned to customer needs”.
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.

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 1st 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 3rd 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 7th 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.