Fri, 14 May 2021 Today's Paper

HNB Assurance 1Q profit surges over higher premiums, investment incomes

18 May 2017 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

HNB Assurance PLC, the insurance subsidiary of the Hatton National Banking group, reported earnings of Rs.74 million or Rs.1.48 a share for its March quarter (1Q17), an increase of 121 percent from a year ago as the gross written premiums (GWPs) from both life and non-life businesses increased, the interim results showed. 
The life premiums rose by 18 percent year-on-year (YoY) to Rs.983 million while the general insurance premiums rose by 19 percent YoY to Rs.925 million with the total GWPs increasing to Rs.1.9 billion during the quarter under review.     
During the same period, the life insurance fund grew by 7.0 percent while the general insurance fund grew by 5.0 percent to Rs.9 billion and Rs.2.0 billion, respectively, the insurance firm said in a statement.   The company’s general insurance business is carried out by its fully-owned subsidiary after the regulator asked the composite insurers to segregate their life and non-life businesses under two separate legal entities by 2015.    Meanwhile, the interest and dividend income received on the insurer’s financial investment portfolio also rose by a strong 48 percent YoY to Rs.360.3 million.   
During the quarter, the company paid claims and benefits worth of Rs.520 million, up 20 percent from the same period last year. 
As of March 31, 2017, Hatton National Bank PLC had a 59.99 percent stake in HNB Assurance. 

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Indian Covid-19 variant added to WHO’s variants of concern : Prof. Neelika Malavige

Globally new cases of Covid are falling, after an all-time peak through March

MeGha Primal Intake: A mega scam by few govt doctors ?

Days after the Dhammika Paniya was rejected as a cure against COVID-19, news

DMK Chief M. K. Stalin Becomes Tamil Nadu Chief Minister

“Stalin Thaan Varraaru, Namakku Vidivu Tharraaru” (Stalin is only coming

Chemical Fertilizer Ban: A radical political decision that is not too practical?

Soil makes up as the home to millions of insects, microorganisms, recycle mat

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.