Business

HNB Assurance surpasses the Rs. 10 b GWP mark

Life insurance service provider HNB Assurance PLC (HNBA) has surpassed the Rs. 10 billion mark in terms of its turnover for the year ended 31 December 2020, together with its fully owned subsidiary HNB General Insurance Ltd. (HNBGI), the company noted in a disclosure to the Colombo Stock Exchange (CSE) yesterday (13).

HNBA and HNBGI Chief Executive Officer (CEO) Prasantha Fernando shared: “The HNBA Group kickstarted the new year with this remarkable achievement under its belt, despite the impact of an ongoing global pandemic. The group was able to achieve this covetous milestone in terms of its gross written premium (GWP) as a result of a well-curated business strategy, service excellence, product deliverables to suit the needs of our customers, and an efficient claims settlement process, all delivered by a team of happy and motivated employees. The management is indeed grateful to have witnessed this achievement, especially during these testing times.”

Sharing his views, HNBA Chief Operating Officer (COO) Lasitha Wimalaratne stated: “HNBA as a leading life insurer has stood by its promise to take good care of its customers and its employees, especially in an extremely volatile and challenging environment, and being at the forefront of a competitive industry has exercised excellent business strategy, product innovation, and service enhancement initiatives to deliver outstanding returns to all stakeholders. 

“As an entity that holds great responsibility within the financial services sector of the country, achieving the Rs. 10 billion mark during a time of economic uncertainty has aptly demonstrated the group’s agility and business strategies executed meticulously to transform unprecedented challenges into opportunities. I’m thankful to the dedication and commitment of our dynamic teams, and for their fabulous drive to achieve the impossible.”

HNBGI COO Sithumina Jayasundara mentioned: “Surpassing the Rs. 10 billion mark in revenue generation was a landmark achievement gained by the collective efforts and contribution of the agency channel, corporate sales unit, takaful unit, broker, and leasing channels. It surely is a massive achievement for any entity, especially considering the current economic backdrop. As we ring in 2021, we firmly believe that HNBA and HNBGI will strive to deliver even better, achieving greater stability and growth in accordance with the new benchmarks set in the industry. Every single employee of the company has contributed to this significant achievement, and the management of HNBGI is thankful and remains confident of the future outlook of the company.”