Pressroom

HNB General Insurance Limited (HNBGI), the fully owned subsidiary of HNB Assurance PLC (HNBA), took the centre stage along with Softlogic Finance, signifying the establishment of a forethought partnership aimed towards ensuring that safety is met on the note of the many motorcyclists in Sri Lanka. The tie up is set to address the rise of accidents at present particulary involving motorcyclists, triggered by the incomprehension of safety precautions and protocols. As such, this collaborative approach was officially initiated at an event partaken by officials of HNBGI and Softlogic Finance, demonstrating that HNBGI will provide insurance for those who finance a motorbike through Softlogic Finance. Present at the event were, Managing Director/CEO of HNBA and HNBGI, Mr. Deepthi Lokuarachchi and CEO of Softlogic Finance, Mr. Nalin Wijekoon.             

Sharing his thoughts about the initiative, Mr. Lokuarachchi stated, “this is a fine partnership, executed upon consideration of responsiveness to the impact of increasing household incomes, as people are increasingly capable of purchasing a vehicle despite the so-called division of social-classes. Drawn out of such, it is clear that motorcyclists being a notable majority of this country, projects a great tendancy to increase over the years to come. Thus, it is of major importance that their safety is assured, which in turn will take its effect spanning across many motor related activities and involvements that are to be conducted safe and sound. This is when, and why, HNBGI will take on a vital role as to instill safety, especially of one’s mode of commute, while this partnership will take on the added essence of Softlogic Finance’s quality business perspective”.

Speaking on such, Mr. Wijekoon shared his views stating, “while expressing my heartiest gratitude towards HNBGI for joining hands with us, I take this moment to place admiration upon the contrast in ways of driving business, which Softlogic Finance has perfectly maneuvered, that is by adopting aspects such as quality and networking while also placing strong emphasis on an ethical facet made evident by this partnership. As of today and on this note, we are knowingly a helping hand for the ever common idiom, ‘dream vehicle’, and even for those who start small, we have provided a tangibilized, quality service without a doubt. I am thankful for all those who have contributed and provided assistance in achieving such a milestone in our road to sustainable business partnerships”.

HNBGI, which commenced business in January, 2015, specializing in motor and non-motor insurance solutions, 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.

HNB General Insurance Limited (HNBGI), the fully owned subsidiary of HNB Assurance PLC (HNBA) excels in providing a wide array of motor and non-motor insurance solutions. With its growing product portfolio and customer base, the Company has embarked on a mission to expand its operations across the country. The Company has adapted a well-focused customer-centric approach with the aim of providing an effective, superlative service to its customers.

Sharing his views on the Company’s outlook, Mr. Deepthi Lokuarachchi, Managing Director/CEO of HNBA and HNBGI stated “the general insurance market in Sri Lanka is a highly competitive market. In addition to the fierce competition and a myriad of challenges in the market, the prevailing adverse economic conditions make the market even more challenging for its players. The general insurance market as a whole has taken a stern turn with the increase in the use of vehicles and taxation imposed on vehicles.  In addition to these factors, natural catastrophes such as extreme weather conditions, back to back floods have taken a hit on the industry. Due to these extreme conditions, most companies have adapted sustainable business strategies to compete in the market”.

Speaking on the product portfolio of HNBGI, Mr. Lokuarachchi added, “the success of any business within this discipline depends on the steadiness of its distribution channel, competencies of the agents and the nature its products. Over the years HNBGI has showcased an impressive growth, despite adverse market and economic conditions and has introduced a range of diversified products. While motor insurance remains the largest segment of the general insurance market, it comprises of other key segments such as travel insurance, marine insurance, fire insurance, home insurance and HNBGI caters to all these general insurance segments with a range of innovate products. The Company has also taken a step ahead in building tie-ups with a number of other brands and strengthening its Bancassurance channel in order to offer both motor and non-motor insurance solutions with a range of benefits”. Speaking further, Mr. Lokuarachchi added “the Company’s customer centric approach and improved efficiencies in claims settlement, set new benchmarks within the industry and helps in providing a superlative service to our customers”.

HNBGI, which commenced business in January, 2015, specializing in motor and non-motor insurance solutions, 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.

HNB General Takaful, the Takaful Unit of HNB General Insurance Limited (HNBGI), the fully owned subsidiary of HNB Assurance PLC (HNBA) introduced a revolutionary product, AS-Salam Motor, A Takaful Motor Insurance plan with a range of benefits.

Sharing his views, Managing Director/CEO of HNBA and HNBGI Mr. Deepthi Lokuarachchi stated “Takaful is a growing global phenomenon and has made a significant contribution to the growth of our business. Islamic Financing has become an integral component of the financial services sector and Takaful represents a vital component of Islamic Financing and it represents good spirit and cooperation. Our entire Takaful operations are carried out adhering to the guidelines of the Sharia Board, in order to provide for the needs of the community. It is noteworthy that HNBGI Takaful has been awarded with a Bronze Award for Emerging Islamic Finance Entity of the Year 2014/2015 at the SLIBFI Awards, a Gold Award for Takaful Window/Unit of the Year 2016 at the Islamic finance Forum of South Asia Awards and a Silver Award for Takaful Unit of the Year 2017 at the SLIBFI Awards.”

Head of HNB General Takaful, Mr. Hifly Huzair expressed his views about the product stating, “AS-Salam Motor is a revolutionary product developed to suit the needs of conventional Takaful Channel with a range of unique benefits to reflect the meaning of the product name, ‘Peace of Mind’. This product offers and emergency expenses cover for policyholder or policyholder’s driver in the event of an accident, a solution for losing a car key, hospital cash benefit, no claim bonus, bonus match and provides a discount on “MyHome Takaful”. This product could be obtained through any of our HNBGI branches or our through our agents”.

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).  HNBGI is rated within the Top 100 Brands in Sri Lanka.