HNB Assurance Group reports exceptional financial performance for 2Q with 30% growth

HNBA and HNBGI Chairman Stuart Chapman

HNBA Executive Director/CEO Lasitha Wimalaratne

HNBGI Executive Director/CEO Sithumina Jayasundara

HNB Assurance PLC (HNBA) and its subsidiary HNB General Insurance Ltd (HNBGI) have delivered exceptional financial results for 2Q 2025, reinforcing their strong market position while showing robust growth across key metrics and reinforcing its solid position in the market.

For the first six months of 2025, the group’s gross written premium (GWP) rose 30 percent to Rs.14.3 billion, from Rs.10.9 billion in 2024. Profit after tax (PAT) increased 10 percent to Rs.519 million (excluding life insurance surplus transfer), while total assets reached Rs.70.2 billion, up from Rs.62.4 billion a year earlier. Investment income climbed 6 percent to Rs.4.0 billion. The group honoured Rs.3.8 billion in net claims and benefits, a 15 percent increase. Assets under management grew to Rs.61 billion and basic earnings per share rose to Rs.3.46 from Rs.3.16.

“Our strategy has always been straightforward, expand our footprint while delivering greater value to our customers and strive to be consistent at it,” said HNB Assurance and HNB General Insurance Chairman Stuart Chapman. 

HNB Assurance recorded a 35 percent GWP increase to Rs.8.6 billion in 2Q 2025, from Rs.6.4 billion in 2Q 2024. PAT for the life business grew 17 percent to Rs.428 million (excluding life insurance surplus transfer). The Life Fund expanded to Rs.44.1 billion, from Rs.35.2 billion, underscoring long-term stability. Net claims and benefits incurred rose 33 percent to Rs.1.9 billion, from Rs.1.4 billion and investment income increased 8 percent to Rs.3.6 billion.

“Our strategic focus on expanding our product offerings and enhancing customer service has yielded impressive results,” said HNB Assurance Executive Director/CEO Lasitha Wimalaratne. 

HNBGI achieved Rs.5.6 billion in GWP for the six months, a 23 percent increase from 2024 and settled claims worth Rs.2.1 billion. The company’s total growth of 23 percent more than doubled the industry average, which was at 11 percent. Its non-motor portfolio delivered the highest industry growth at 35 percent versus 4 percent sector growth, driven by the fire and engineering segment, which posted an exceptional 49 percent growth against the industry’s 4 percent.

“Our ability to stay ahead of the industry comes down to two things, the dedication of our people and the strength of our business model, which is to staying closely aligned to emerging trends and other developments taking place within the general insurance industry,” said HNB General Insurance Executive Director/CEO Sithumina Jayasundara.