HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) has posted a Profit After Tax (PAT) of Rs 910 million for the year ended December 31, 2017.
This depicts a steady growth of 41% in comparison with the PAT of Rs 647 million recorded in 2016.The Group recorded a Gross Written Premium (GWP) of Rs 7.82 billion signifying a growth of 17% as contrasted with the GWP of Rs 6.65 billion recorded in the financial year 2016. The Parent Company, HNB Assurance PLC recorded a GWP of Rs 3.96 billion and the subsidiary, HNB General Insurance Limited recorded a GWP of Rs. 3.86 billion.
The Group was able to yield an Interest and Dividend Income of Rs. 1,693 million, showcasing a growth of 43% against an interest and dividend income of Rs. 1,180 million achieved during the previous year. Total assets of the Group reached a mark of Rs. 18.65 billion and Investments in Financial Instruments reached a value of Rs15.05 billion. During the course of 2017, the Life Insurance Fund reached a value of Rs. 10.9 billion and the General Insurance Fund reached a value of Rs 2.38 billion.
Expressing her views on the solid financial performance during the year under review, Chairperson of HNB Assurance Group, Rose Cooray said, “the Group delivered a superlative financial performance during the course of 2017, depicting a steady flow of revenue generation and accelerating progress towards achieving our corporate goals during 2017.
The Management guided by the Board has meticulously executed a well-crafted plan that focused on creating value to all stakeholders.”
“Not only have we been able to fulfil the aspirations of the shareholders, the Group paid out Rs 2.29 billion in claims and have focused on rewarding its employees, while contributing towards society through various corporate stewardship initiatives and we are confident that this growth we’ve embarked on will continue during 2018.”
Sharing his thoughts on the Group’s financial performance, Managing Director/CEO of HNBA and HNBGI Deepthi Lokuarachchi said, “the strategies deployed during the course of 2017 led the Group capture emerging and dynamic markets. The Group was able to maintain its solid industry position throughout the course of 2017, despite the volatile macro-economic conditions and heightened competition.”
www.dailynews.lk
This depicts a steady growth of 41% in comparison with the PAT of Rs 647 million recorded in 2016.The Group recorded a Gross Written Premium (GWP) of Rs 7.82 billion signifying a growth of 17% as contrasted with the GWP of Rs 6.65 billion recorded in the financial year 2016. The Parent Company, HNB Assurance PLC recorded a GWP of Rs 3.96 billion and the subsidiary, HNB General Insurance Limited recorded a GWP of Rs. 3.86 billion.
The Group was able to yield an Interest and Dividend Income of Rs. 1,693 million, showcasing a growth of 43% against an interest and dividend income of Rs. 1,180 million achieved during the previous year. Total assets of the Group reached a mark of Rs. 18.65 billion and Investments in Financial Instruments reached a value of Rs15.05 billion. During the course of 2017, the Life Insurance Fund reached a value of Rs. 10.9 billion and the General Insurance Fund reached a value of Rs 2.38 billion.
Expressing her views on the solid financial performance during the year under review, Chairperson of HNB Assurance Group, Rose Cooray said, “the Group delivered a superlative financial performance during the course of 2017, depicting a steady flow of revenue generation and accelerating progress towards achieving our corporate goals during 2017.
The Management guided by the Board has meticulously executed a well-crafted plan that focused on creating value to all stakeholders.”
“Not only have we been able to fulfil the aspirations of the shareholders, the Group paid out Rs 2.29 billion in claims and have focused on rewarding its employees, while contributing towards society through various corporate stewardship initiatives and we are confident that this growth we’ve embarked on will continue during 2018.”
Sharing his thoughts on the Group’s financial performance, Managing Director/CEO of HNBA and HNBGI Deepthi Lokuarachchi said, “the strategies deployed during the course of 2017 led the Group capture emerging and dynamic markets. The Group was able to maintain its solid industry position throughout the course of 2017, despite the volatile macro-economic conditions and heightened competition.”
www.dailynews.lk
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