The Group achieved a growth of 18% during Q1 of 2017, posting a Gross Written Premium (GWP) of LKR 1.9 BN against the GWP of LKR 1.6 BN recorded during the same of 2016. The Life Insurance Company posted a GWP of LKR 988 MN and the General Insurance Compa
tively. These results reflect the favorable direction the company is headed and the Board, the management and staff of both HNBA and HNBGI are committed to improve the financial performance of the Group as well as to strengthen the competitive positioning of both HNBA and HNBGI”.
Commenting on the financial performance of the Group, Chief Executive Officer, Mr. Deepthi Lokuarachchi stated, “I am pleased by the performance delivered by both HNBA and HNBGI during Q1 of 2017. The financials of Q1 reflects a solid growth compared to the results of the first quarter of 2016. During the first quarter of 2017 the Group recorded an impressive investment income growth of 84% reaching a value of LKR 360 MN against the value of LKR 195 MN in the first quarter of 2016. Several key drivers including the synergies of the Group, deriving key strategies to further consolidate the position of the two entities helped the Group to achieve these financial results during Q1 2017”.
HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 56 branches. HNBA is a Life Insurance company with a rating of A (lka) by Fitch Ratings Lanka for “National Insurer Financial Strength Rating” and “National Long- term 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. 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 and also won many awards for its Annual Reports at the Award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka and SAFA (South Asian Federation of Accountants).