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HNBA Records an Impressive 26% GWP and 30% New business Growth in 2022
HNB Assurance PLC (HNBA) recorded an impressive growth of 26% in its Gross Written Premium (GWP) as at end December 2022 to reach LKR 8.9Bn. It is pertinent to note that this is in fact the highest GWP growth rate when compared with the Top 8 players in the Life Insurance industry in Sri Lanka, and is almost three fold of that of the industry which saw a growth of 9% . In terms of new business too, the Company was able to notch up a fantastic new business growth of 30% compared to last year which is almost 10 times as much as the industry average.
CEO of HNBA, Lasitha Wimalaratne, said: “Our growth has been driven consciously by way of acquisition of long-term endowment business that would ensure sustained growth of the business into the future. We as team fought tooth and nail in acquiring new business whilst also working tirelessly in maintaining policy persistency; both being extremely onerous endeavours in a what was the most calamitous of environments to operate in.”
He said that the year saw the unveiling of the flagship health proposition in SupremeHealth Unlimited. Apart from this the Company was also the recipient of many awards both locally and internationally further affirming the solidity and all-encompassing nature of the growth that the Company has acquired for itself. The Company has also been able to produce 194 Million Dollar Round Table (MRDT) qualifiers this year up from 164 produced a year earlier. The Company unveiled its new branch outlook during the year offering a totally new experience in terms of aesthetics, ergonomics and convenience to our customers and employees alike.
Chief Business Officer / GM – Advisor Distribution Channel of HNBA, Harindra Ramasinghe expressed his views stating, despite the numerous obstacles posed by the remnants of the global pandemic as well as economic and political upheaval, the HNBA Advisor Channel demonstrated unwavering performance, significantly boosting business growth.
Sanesh Fernando, Chief Business Officer / GM – Partnership Business, sharing his thoughts on the growth of the Alternate Channel stated “The Alternate Channel team recorded expectational results in 2022 with Total GWP growing by 34% compared to the previous year to reach LKR 4.2 Bn . The Channel was also honoured to have received the Best Bancassurance Service Provider for the third consecutive year by the Global Banking and Finance Review and stands as testament to the resilience and vitality of the channel. I wish to very sincerely extend by most heartfelt appreciation to the Management of HNB, Other banking partners and all the insurance brokers who have been a pillar of strength in our growth thus far, as well as to our other partners who have been part of parcel of our growth”. He further went on to add that “with the development of other alternate channels of business we are poised for a high growth trajectory and I’m confident that our team will no stone unturned in achieving the objectives set for 2023”.
Indian Prime Minister Shri Narendra Modi departed today (06) from Air Force Base Anuradhapura concluding his State visit to Sri Lanka. The Indian Premier embarked on a tour to Sri Lanka at the invitation from President Anura Kumara Disanayake.
This visit underscores the enduring relationship encapsulated by the theme “Friendship of Centuries, Commitment to a Prosperous Future,” further solidifying the bonds between India and Sri Lanka.
This marks Prime Minister Modi’s fourth visit to Sri Lanka, which has further enhanced the economic, cultural, and historical relations between the two nations, while also reinforcing their multifaceted partnership. This visit by the Indian Prime Minister reinforces Sri Lanka’s important role in India’s “Neighbourhood First Policy” and ‘MAHASAGAR’ vision concerning diplomatic relations.
This state visit is anticipated to yield significant results on various collaborative initiatives, fostering a path towards mutual growth and development. The citizens of Sri Lanka will soon be able to witness the fruitful outcomes of these partnerships, and Indian Prime Minister Shri Narendra Modi’s visit will mark a significant milestone in the government’s pursuit of sustainable development focused on the needs of the people.
Accompanying Indian Prime Minister Modi were Indian External Affairs Minister Dr. S. Jaishankar, National Security Advisor Ajit Doval, Foreign Secretary Vikram Misri and a delegation of senior officials from the Indian government.
[PMD]
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President Dissanayake and Indian PM Modi jointly commission upgraded Maho-Omanthai railway line & Maho-Anuradhapura railway signalling system
The upgraded Maho–Omanthai railway line and the newly installed Maho–Anuradhapura railway signalling system were officially commissioned by Indian Prime Minister Shri Narendra Modi and President Anura Kumara Disanayake today (06)
The Prime Minister of India is currently visiting Sri Lanka at the invitation of President Anura Kumara Disanayake, reinforcing the longstanding bond encapsulated in the theme “Friendship of Centuries Commitment to a Prosperous Future” between the two nations.
Highlighting one of the key aspects of this visit, the two leaders participated in these inaugural ceremonies. The President and the Prime Minister of India jointly unveiled the commemorative plaque and commissioned the railway line and signalling system.
The upgraded Maho-Omanthai Railway Line project was carried out with funding through the Indian Credit Line, totalling an investment of US$ 91.27 million. The Maho–Anuradhapura railway signalling system, established as a result of President Disanayake’s recent visit to India, was funded by the Indian Government at a cost of USD 14.89 million.
[PMD]
Latest News
Prime Minister Modi and President Dissanayake pay homage to the sacred Jaya Sri Maha Bodhi
Indian Prime Minister Shri Narendra Modi, currently on a State visit to Sri Lanka, along with President Anura Kumara Disanayake paid homage to the sacred Jaya Sri Maha Bodhi in Anuradhapura this morning (06) and received blessings.
Following his visit to the sacred site, Prime Minister Modi proceeded to the Udamaluwa, where he met with the Chief Incumbent of the Atamasthanadhipathi and Chief Sanghanayake of Nuwarakalaviya, Most Venerable Dr. Pallegama Hemarathana Nayaka Thera, for a cordial discussion.
During the meeting, the Prime Minister shared that relics of the Buddha were discovered in excavations conducted in his home state of Gujarat during the 1960s. He further stated that he would discuss with the President of Sri Lanka the possibility of exhibiting these sacred relics in Sri Lanka.
Responding to a request made by the Atamasthanadhipathi to develop Bodh Gaya as a spiritual city, Prime Minister Modi assured that he would take the necessary steps after discussions with President Disanayake and work towards making it a reality.
The Maha Sangha, led by the Atamasthanadhipathi, chanted Seth Pirith and invoked blessings on the Indian Prime Minister.
The Indian Prime Minister also left a commemorative note in the special guest book at the site. In addition, he formally declared open the newly constructed ‘Makara Thorana’ within the Jaya Sri Maha Bodhi premises.
The occasion was also attended by Chief Incumbent of the Ruwanweli Maha Seya Temple Ven. Ethalawetunawewe Gnanathilaka Thera and other Atamasthana Viharadhipathi Theras, Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath, Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, Minister of Health and Mass Media Dr. Nalinda Jayatissa, North Central Province Governor Wasantha Jinadasa, Indian High Commissioner Santosh Jha and others.
[PMD]
Indian Prime Minister Shri Narendra Modi concludes State Visit to Sri Lanka
President Dissanayake and Indian PM Modi jointly commission upgraded Maho-Omanthai railway line & Maho-Anuradhapura railway signalling system
Prime Minister Modi and President Dissanayake pay homage to the sacred Jaya Sri Maha Bodhi
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