HNB Assurance opens share market to celebrate S&P SL 20 entry
HNB Assurance PLC rang the opening bell at the Colombo Stock Exchange (CSE) recently. The ceremony was organized to celebrate the inclusion of HNB Assurance PLCIN the S&P SL20 Index following the 2019 mid-year index review.
Chairperson Rose Cooray, Managing Director/ceo Deepthi Lokuarachchi, Director Sivakumar Selliah, Chief Operating Officer Prasantha Fernando and Board Secretary Sitari Jayasundarafrom HNB Assurance PLC were present at the event while the CSE was represented by Chairman Ray Abeywardena, Director Shanil Fernando, CEO Rajeeva Bandaranaike and the senior management of the Exchange.
CEO of CSE Rajeeva Bandaranaike speaking at the ceremony congratulated the company’s leadership on achieving the capital market milestone. “A public listing alone is often considered as a milestone in a company’s lifecycle. Inclusion in an index that features the leading stocks listed on any exchange around the world, is an achievement. HNB Assurance PLC joins an exclusive group of companies that are among the top 20 companies in terms of market liquidity and frequency of trading at the exchange.” Managing Director/ CEO of HNB Assurance PLC and HNB General Limited Deepthi Lokuarachchi commenting at the ceremony stated that the management and the Board are happy and proud of this achievement. Lokuarachchi also said“as a company we are a strong outfit organizing and mobilizing all our resources and giving the maximum shareholder value and value creation to them. We are committed to growing our business, and continue to be a very strong stock for our shareholders.”
HNB Assurance PLC (HNBA) is the one of the fastest growing Insurance Companies in Sri Lanka with a network of 59 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 Insurer 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 Accountants). The S&P SL 20 index has been designed in accordance with international practices and standards.
All stocks are classified according to the Global Industry Classification Standard (GICS), which was Co-developed by S&P Dow Jones Indices and MSCI and is widely used by market participants throughout the world.