Strong Financial Performance Highlights HNB Assurance’s Growth
HNB Assurance PLC has reported a remarkable financial performance for the nine months ending September 30, 2025. The company achieved a 38% year-on-year growth in Life Insurance Gross Written Premium (GWP), marking the highest growth among life insurers in Sri Lanka. This achievement highlights the company’s dedication to innovation, disciplined execution, and a strong commitment to meeting the evolving needs of Sri Lankan families.
The Life Insurance business generated a GWP of Rs. 13.74 billion for the period, compared to Rs. 9.97 billion in the same period in 2024. This represents a significant increase of 38%. Additionally, the company’s total assets grew to Rs. 63.2 billion, an 18% rise from Rs. 53.4 billion in the previous year. The Life Fund also expanded by 24%, reaching Rs. 47.4 billion from Rs. 38.3 billion in December 2024. These figures indicate both strong top-line growth and effective fund management.
Profit before tax, excluding Life Surplus Transfer, stood at Rs. 876 million, showing an increase of 13%. Profit after tax rose to Rs. 617 million, reflecting a 12% year-on-year growth. These results underscore the company’s ability to maintain profitability while expanding its operations.
Commitment to Customer Obligations
During the reporting period, net claims and benefits incurred to policyholders amounted to Rs. 3.25 billion, up from Rs. 2.12 billion in the previous year. This impressive increase of 54% reaffirms HNB Assurance’s steadfast commitment to fulfilling its obligations and supporting customers during critical times.
The company’s investment portfolio also saw growth, reaching Rs. 57.3 billion, compared to Rs. 48.5 billion a year earlier. This growth was driven by strong yields from fixed-income securities and a diversified asset mix, contributing to healthy investment income.
Leadership Perspectives on Performance
Stuart Chapman, Chairman of HNB Assurance PLC and HNB General Insurance Limited, commented on the company’s performance, stating, “We are proud to see HNB Assurance deliver yet another quarter of exceptional growth, driven primarily by the strength of our Life business. This level of performance reflects the trust that customers have placed in our brand and the disciplined financial management that continues to underpin our long-term stability.”
At the group level, the company remains focused on sustainable growth and resilience, ensuring consistent value generation for all stakeholders. GWP reached Rs. 21.9 billion, up 32% from the corresponding period last year.
Lasitha Wimalaratne, Executive Director and Chief Executive Officer of HNB Assurance PLC, added, “Our 38% growth in Life GWP represents one of the strongest performances in the industry and reflects the depth of our strategy in expanding customer reach and enhancing value.”
He highlighted that the agency and bancassurance channels continue to deliver impressive traction, supported by new product offerings that address real customer needs. A notable increase in policy persistency demonstrates customer confidence and satisfaction.
Focus on Sustainable Growth
Wimalaratne further emphasized the company’s focus on balancing growth with financial prudence. The increase in the Life Fund, combined with a strong solvency position and steady profit growth, reinforces HNB Assurance’s ability to deliver long-term security to policyholders.
Claims payments have risen in line with the growing portfolio, indicating a healthy expansion of the customer base and a timely settlement culture. The company is committed to maintaining this momentum through continued innovation, operational excellence, and a customer-first approach.
Key Financial Highlights
- Life Insurance GWP: Rs. 13.74 billion (up 38% YoY)
- Total Assets: Rs. 63.2 billion (up 18% YoY)
- Life Fund: Rs. 47.4 billion (up 24% YoY)
- Profit Before Tax: Rs. 876 million (up 13% YoY)
- Profit After Tax: Rs. 617 million (up 12% YoY)
- Net Claims and Benefits: Rs. 3.25 billion (up 54% YoY)
- Investment Portfolio: Rs. 57.3 billion (up 18% YoY)