HNB Assurance surpasses 20% growth mark again

HNB Assurance Group recorded yet another year of exceptional performance, marking the third consecutive year of achieving a growth rate exceeding 20 percent in terms of gross written premium (GWP). 
HNB Assurance Group recorded a substantial GWP of Rs.18.7 billion, showcasing a remarkable growth of 20 percent compared to the previous year. 

Reflecting on this achievement, HNBA and HNBGI Chairperson Rose Cooray said, “Our group assets grew by Rs.10 billion during the year, well exceeding a remarkable total of Rs.51.2 billion. Further, investment income for the group surged to Rs.7.2 billion, representing an outstanding growth of 49 percent, from Rs.4.8 billion in the preceding year. In terms of the group’s profits, we recorded a commendable Rs.1.76 billion in profit after tax (PAT).” 
“HNB Assurance Group honoured claims of Rs.6.6 billion, showcasing a growth of 19 percent compared to the previous year.”

“Our PAT reached Rs.1.61 billion, marking a commendable 9 percent increase from the previous year. Moreover, we surpassed the significant milestone of Rs.10 billion in GWP, representing a growth of 23 percent, which is almost twice the industry growth rate. We also witnessed a remarkable growth in our life fund from Rs.24.3 billion to Rs.30.6 billion,” HNB Assurance PLC CEO Lasitha Wimalaratne said.

HNB General Insurance Ltd witnessed an impressive 18 percent surge in GWP when compared to 2023, a growth from Rs.6.8 billion to Rs.8 billion, which is a three-time increase when compared to the industry growth. Throughout the year, the company’s strategic emphasis on product innovation and customer service proved to be pivotal. 
HNB General Insurance CEO Sithumina Jayasundara said, “We made Rs.4.3 billion in claims, marking a 12 percent increase from the previous year, reaffirming our commitment to honouring the trust instilled in us by our valued customers.”