HNB Assurance records 29% GWP growth in FY21

HNB Assurance PLC (HNBA), a leading life insurer in the country, recorded an impressive growth of 29 percent for the fiscal year 2021 in terms of gross written premium (GWP), recording Rs.7.1 billion.

Sharing his views, HNBA Chief Executive Officer Lasitha Wimalaratne stated, “This is the highest GWP growth in the company’s history. The profit after tax (PAT) of the company surpassed Rs.1 billion during the year. The two main channels of the business, advisor and partnership, have gone above and beyond all expectations to deliver these superlative results.”
HNBA Head of Distribution Harendra Ramasinghe expressed his views stating, “Amidst many hurdles and challenges presented by a global pandemic, the advisor force of HNBA was able to deliver a steadfast performance, immensely contributing to the growth of the business. During the year, the advisor channel recorded a total GWP of R.4 billion. The business continued to seize new and growing market segments across the country. The advisor channel showed an impressive growth as several recruitment campaigns continued throughout the country. Whilst thanking the entire advisor force, branch network and distribution management teams, with the direction of the management, I’m sure the advisor channel will continue its growth momentum during 2022.”

HNBA Head of Partnership Business Sanesh Fernando expressed his views stating, “The partnership channel delivered an exceptional performance during 2021, setting new benchmarks in the market. The partnership channel recorded a GWP of Rs.3.1 billion during FY21. Being awarded as the Best Bancassurance Provider in Sri Lanka 2021 Award by Global Banking and Finance Review, is a testament to the solid momentum and strength of the 
entire channel.”