Business
HNB Assurance Group records significant growth in 1H20
HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) recorded a Profit After Tax (PAT) of LKR 500 MN during 1H 2020, depicting a steady growth amid the outbreak of a global pandemic.
Speaking on the financial performance of the Group, chairperson of HNBA and HNBGI, Ms. Rose Cooray stated, “it is indeed a great pleasure to announce that HNB Assurance Group has achieved a significant PAT growth compared to the corresponding period of the previous year following an economic downturn caused by the outbreak of a global pandemic. Through the tireless efforts, our teams successfully navigated the challenging environment to deliver a noteworthy performance. The Life Insurance business recorded a PAT of LKR 176 MN showcasing a growth of 25%. The profit does not include any surplus transfer from the Life Fund.
“The General Insurance business recorded a PAT of LKR 323 MN depicting an impressive growth of 120%. These results reiterate the resilience of our sustainable core business model and the Group’s undivided focus in capturing market segments with growth potential. The unprecedented challenges arising from the COVID-19 outbreak together with other adverse global market conditions have created a challenging backdrop which businesses around the globe are currently experiencing; but with the strategies of the Management together with the dedication of the staff members of HNBA and HNBGI and the Advisor Force, I’m sure we could overcome this uncertain turbulence.”
Sharing his views on the performance of the Group, Chief Executive Officer of HNBA and HNBGI, Prasantha Fernando stated, “HNBA Group delivered outstanding financial results amidst a number of macro-economic challenges presented during a global crisis. In a market backdrop where most businesses succumbed its profits to the outbreak of COVID-19, HNBA Group has delivered a notable performance. The Group recorded a Gross Written Premium (GWP) of LKR 4.5 BN. The investment income of the Group surpassed LKR 1.2 BN and the total assets of the Group surpassed LKR 29 BN. The Group has taken swift and effective measures and has adapted various agile initiatives following the COVID-19 outbreak, including enhancing its digital selling portals and claims settlement platforms. It is noteworthy to mention that the Life and General Insurance Funds surpassed values of LKR 15.7 BN and LKR 2.9 BN respectively reaffirming the Group’s firm footing”.
Fernando further added, “the Management is thankful for the commitment and dedication of all employees during these trying times. The Management remains confident that together with the diversified business strategies the Group will be able to sustain its continuous growth and deliver value to all stakeholders.” (HNBA)
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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