HNB Assurance Group celebrates 20 years of success

Reaching another significant milestone in its journey, HNB Assurance PLC Group celebrated its 20th year anniversary recently. Incorporated in 2001 and listed in the Colombo Stock Exchange in 2003 the

HNBA and HNBGI Chief Executive Officer Prasantha Fernando

HNBA Chief Operating Officer Lasitha Wimalaratne

HNBGI Chief Operating Officer Sithumina Jayasundara

company has grown over the years and is present to serve people across the country. 

Having commenced business as a composite insurer, keeping in line with the segregation rules, HNB Assurance PLC (HNBA) floated HNB General Insurance Ltd. (HNBGI) in 2015, as its fully owned subsidiary, which took on the general insurance business while HNBA retained the life business. The Group has always focused on consolidated growth, delivering a tangible value proposition to all its stakeholders. Both HNBA and HNBGI had their ratings upgraded to A+ by Fitch, auguring well for the Group’s financial strength and soundness.   

Sharing her views on this significant milestone, HNBA and HNBGI Chairperson Rose Cooray stated, “The 20th year anniversary of a relationship, friendship or a business is a cause for celebration for many reasons. Having journeyed together with our customers, employees, and shareholders for two decades, the Group has reached many a milestone, achieving stellar heights and creating a tangible and real difference in the lives of people. Being in the business of protection, we have served and taken care of thousands of policyholders and their loved ones, providing a shield of protection and armour of confidence to face the uncertainties and challenges in life.  

“Both Life and General Insurance businesses have transformed significantly during the past 20 years, growing to be a Group with a turnover of over Rs. 10 billion. Whilst expressing my sincere gratitude to all our customers, investors, and other stakeholders for being with us during the past two decades, I assure you that the Group is geared to move forward with much greater financial stability, innovation, efficiency and the highest quality in service delivery, with the aim of setting new benchmarks in the industry, whist taking care of you and your loved ones.”

HNBA and HNBGI Chief Executive Officer Prasantha Fernando expressed his words stating, “Over the past 20 years, both HNBA and HNBGI have grown from strength to strength, consolidating its footprint in the industry, seizing every growth opportunity, and introducing innovative products to meet the needs of protection, savings, education, health and retirement on the life side, as well as complete bouquet of products on the GI side. The success mantra of the Group has always been the focus given to the needs of our policyholders and their loved ones, for the last two decades, we’ve honoured our promise to each and every policyholder.

“I am proud of our HNBA and HNBGI teams for what they have achieved as at date. Ours is resilient outfit focusing on consolidated growth and value creation. During the past 20 years, the Group has given back and taken care of the community through various CSR initiatives, including the Group’s award-winning Water Stewardship Initiative, under which drinking water facilities were provided to over 60 rural schools in different parts of the country. In addition to this, the Group has undertaken several other initiatives to take care of our community including the recent donations of urgently needed medical supplies and equipment to several hospitals to help combat the current pandemic.”

Fernando continued, “Whilst saying thank you to every policyholder, to every staff member and to every shareholder for their well-placed trust in us, I wish to reiterate that under the guidance of a dynamic team of leaders, the Group will continue to grow and further expand its footprint in the market, providing innovate life and general insurance solutions to help you live life to the fullest.”