Marking a significant milestone in its journey as it celebrates 25 years of trust and transformation, HNB Life has introduced Privileged Protect, a novel universal life insurance solution designed to meet the evolving financial and protection needs of modern Sri Lankans.
Developed as an evolved protection offering, Privileged Protect combines short-term premium commitments with long-term financial security, giving customers the flexibility to build wealth while safeguarding their future and loved ones.
Designed for individuals seeking comprehensive life protection with greater financial convenience, the product offers a shorter premium paying term while ensuring continued long-term coverage and investment growth opportunities. The policy also includes six compulsory protection benefits, dividend and loyalty dividend entitlements, partial withdrawal facilities after five years, and the ability to convert the maturity value into a monthly income stream. Customers are also provided the flexibility to continue optional riders beyond the premium paying term and enhance their investment through top-up premiums.
Commenting on the launch, Lasitha Wimalaratne, Executive Director / Chief Executive Officer of HNB Life, stated, “As we embark on a bold new chapter as HNB Life, the introduction of Privileged Protect reflects our commitment to continuously evolve alongside the changing aspirations of our customers. Today’s customer seeks greater flexibility, stronger protection, and smarter financial planning solutions that align with their lifestyle and long-term goals. This product has been thoughtfully designed to address those expectations while delivering the security and confidence our policyholders value. As we celebrate 25 years of excellence, we remain focused on shaping the future of insurance through innovative solutions that are relevant, accessible, and future-ready.”
Also sharing his thoughts, Dinesh Udawatta, Executive Vice President / Chief Technical Officer stated, “The modern customer is increasingly looking for insurance solutions that go beyond traditional protection. Privileged Protect is an evolved offering built around convenience, flexibility, and long-term value creation. It is designed for individuals who want to secure their future with shorter payment commitments while continuing to enjoy meaningful protection and wealth accumulation benefits. As HNB Life, we are committed to introducing customer-centric innovations that empower Sri Lankans to confidently plan for the future.”
With the launch of Privileged Protect, HNB Life continues to strengthen its portfolio of future-focused insurance solutions, reinforcing its commitment to protecting lives while empowering customers to achieve long-term financial wellbeing in an ever-evolving world. HNB Life PLC is licensed by the IRCSL and all policyholders are advised to read the policy document before concluding a sale to understand benefits, exclusions, terms and conditions.
May
HNB Life, previously known as HNB Assurance, proudly marks another milestone in its 25 year journey of trust and protection, securing the prestigious ‘Best Life Bancassurance Provider – Sri Lanka’ award from for the sixth consecutive year.This continued recognition reflects HNB Life’s enduring legacy, built over 25 years of delivering reliable, customer-centric insurance solutions and excellence in bancassurance.The accolade comes on the back of a remarkable year for HNB Life’s Partnership Channel, which surpassed LKR 10 billion in Gross Written Premium (GWP), recording an impressive 58% growth. The channel also achieved a 58% growth in New Business Premium (NBP), further demonstrating strong market momentum. Adding to this success, the channel recorded its highest-ever number of MDRT, COT, and TOT achievers, underscoring the strength and capability its sales force.Commenting on the achievement, Executive Director / CEO Lasitha Wimalaratne stated, “As we celebrate 25 years of trust, this recognition holds special significance for us. Winning this award for the sixth consecutive year is a testament to the strong foundation we have built over the years as HNB Assurance, and the exciting future we are shaping as HNB Life. I must convey my sincere gratitude to our parent company Hatton National Bank, along with our valued bancassurance partners, for their continued trust and support, which has been instrumental in this journey. It also reflects the confidence our customers place in us and the dedication of our teams who consistently strive for excellence.”Executive Vice President / Chief Business Officer – Partnerships, Sanesh Fernando, also shared his thoughts, “This achievement is a reflection of the incredible journey we have built together with our partners over the years. Crossing the LKR 10 billion mark with a 58% growth, alongside achieving our highest MDRT, COT, and TOT numbers, is a proud moment for all of us. It speaks to the strength of our partnerships, the resilience of our teams, and our shared vision to deliver meaningful protection solutions to our customers. As we step into this next chapter as HNB Life, we are excited about what lies ahead and the opportunity to build on this momentum. Winning this award for the sixth consecutive year is truly special and I’d like to sincerely thank the management of Hatton National Bank, our partner banks, and our broker network for standing by us and supporting us every step of the way.”
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May
HNB Life PLC reported a strong start to the year for the three months ended 31 March 2026, continuing its growth trajectory following its recent rebranding and reinforcing its position as a leading life insurer in Sri Lanka.The Company recorded Life Gross Written Premium of Rs. 7.01 Bn for the period, reflecting a strong growth of 54 percent compared to Rs. 4.55 Bn in the corresponding period of 2025. Net Written Premium also rose by 54 percent to Rs. 6.69 Bn, demonstrating sustained momentum in both new business generation and policy persistency.Total Net Income grew by 39 percent to Rs. 8.69 Bn, supported by a healthy underwriting performance and steady investment income. Interest and dividend income contributed Rs. 2.05 Bn during the period, reflecting the strength and scale of the Company’s investment portfolio.The Company’s financial position remained robust, with total assets increasing to Rs. 71.38 Bn as of 31 March 2026, compared to Rs. 68.44 Bn at the end of 2025. Financial investments grew to Rs. 64.39 Bn, while the Life Insurance Fund expanded to Rs. 52.55 Bn, highlighting the continued accumulation of long-term policyholder funds and business growth. Total Equity stood at Rs. 11.45 Bn, providing a strong capital base to support future expansion.Profit After Tax for the Company stood at Rs. 0.21 Bn for the period and is reported without any surplus transfer from the Life Insurance Fund, which is usually done after the year end valuation. Profitability was impacted by low-Interest rate environment as well as by fair value movements in the equity portfolio during the period. These movements are consistent with market conditions and reflect the inherent volatility associated with equity investments.Commenting on the performance, Chairman Mr. Stuart Chapman stated, “The rebranding of the Company represents a defining milestone in our journey, one that reaffirms not only our identity but also our long-term strategic intent as part of the Hatton National Bank Group. As a subsidiary of HNB, we continue to operate with the same vigor, discipline and sense of purpose that have underpinned our progress over the years, while drawing strength from the stability and heritage of the Group. It is particularly encouraging to witness the Company sustaining its growth momentum in the early part of 2026, despite a dynamic and evolving economic landscape. We remain confident in our ability to build on this foundation and pursue sustainable growth alongside HNB General Insurance Ltd., as we continue to create enduring value for all our stakeholders.”Executive Director and Chief Executive Officer Mr. Lasitha Wimalaratne stated, “Our performance in the first quarter of 2026 reflects the consistency and discipline with which we have executed our strategy over the past four years. Throughout this period, we have methodically strengthened our distribution capabilities, enhanced advisor productivity, invested in digital enablement and refined our customer centric value proposition. This has enabled us to deliver sustained premium growth while maintaining a strong focus on quality and long-term value creation. At the same time, we have continued to expand our balance sheet, with steady growth in total assets, financial investments and the Life Insurance Fund reflecting the underlying resilience and scalability of our business. While short term profitability has been influenced by low-Interest rate environment and market related movements in the equity portfolio, the core fundamentals of the business remain robust, positioning us well to sustain our growth trajectory and deliver meaningful value to our policyholders and shareholders over the long term.”With strong premium growth, a steadily expanding Life Insurance Fund and a resilient balance sheet, HNB Life PLC remains well positioned to sustain its growth trajectory and deliver value to policyholders and shareholders alike.
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May
HNB Life continues to strengthen its position as one of Sri Lanka’s most people centric organizations, securing the prestigious Company with Great Managers recognition for the fourth consecutive year at the Great Manager Awards 2025. Seven of its outstanding leaders, Alan Baker, Rangamal Bandara, N. Galagedera, Lalith Hapangama, Ruwan Chandana, Hiran Chandimal, and Shanil De Silva, were individually recognized at the Great Manager Awards 2025, highlighting the depth of leadership excellence across the organization.The recognition comes at a defining moment in the Company’s journey, as HNB Assurance evolves into HNB Life, marking a bold new chapter built on a 25 year legacy of trust. While the brand steps forward with renewed purpose, its foundation remains deeply rooted in a people first culture that prioritizes growth, inclusivity and excellence.Commenting on the achievement, Executive Director / Chief Executive Officer of HNB Life, Lasitha Wimalaratne stated, “Firstly, I would like to extend my heartfelt congratulations to all our Great Manager Award winners. Being named a ‘Company with Great Managers’ for the fourth consecutive year is a proud reflection of the strength and consistency of our leadership culture. As we embrace our transformation into HNB Life, this recognition holds even greater significance. As we aspire to grow and reach new heights, it is this strong foundation of leadership that will continue to guide our journey.”Executive Vice President / Chief People Officer, Navin Rupasinghe, added, “Our culture has always been our greatest differentiator. This recognition reflects the environment we have created, one where individuals feel valued, supported, and inspired to grow. I would also like to extend my sincere congratulations to our Great Manager Award winners, who continue to set the benchmark for leadership within the organization. As the company moves forward, we remain committed to equipping our people with the right tools, guidance and opportunities to grow, ensuring they not only deliver results, but also shape the future of those around them.”
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