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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.