HNB Assurance Group 1H 2025 GWP increases 30%

Group Chairman Stuart Chapman, HNBA Executive Director/CEO Lasitha Wimalaratne, HNBI Executive Director  Sithumina Jayasundara

• PAT increased 10% in 1H 2025 to Rs. 519 m
• Total assets reach Rs. 70.2 b
• Assets Under Management reach Rs. 61 b
• Life insurance unit GWP up 35% YoY to Rs. 8.6 b in 2Q 2025
• General Insurance unit GWP increases 23% YoY to Rs. 5.6 b in 2Q 2025

HNB Assurance PLC (HNBA) and its subsidiary HNB General Insurance Ltd. (HNBGI) reported a combined Gross Written Premium (GWP) of Rs. 14.3 billion for the first half of 2025, up 30% from a year ago.

It said Profit After Tax (PAT) increased 10% 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% to Rs. 4.0 billion. The group honoured Rs. 3.8 billion in net claims and benefits, a 15% increase, reflecting its strong policyholder commitment. Assets Under Management (AUM) grew to Rs. 61 billion, and Basic Earnings Per Share (EPS) 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. “This focus has enabled us to strengthen our position in the market and sustain the strong momentum we have built over the years, positioning us well for the future in order to generate value for all our stakeholders.”

The life insurance business of the group, HNBA recorded a 35% GWP increase to Rs. 8.6 billion in Q2 2025 from Rs. 6.4 billion in Q2 2024. PAT for the life business grew 17% 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% to Rs. 1.9 billion from Rs. 1.4 billion, and investment income increased 8% 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. “The double-digit growth in our GWP, PAT and Life Fund, coupled with a significant increase in claims paid, demonstrates our commitment to our customers and our strong financial foundation.”

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

“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 HNBGI Executive Director/CEO Sithumina Jayasundara. “We have seen strong growth in our GWP, managed our contract liabilities wisely and delivered a healthy boost in profits. Additionally, this quarter was extra special with the launch of HNBGI NEXA, our AI-powered chatbot, a clear indication that as we are getting bigger, we are getting better.”