Balanced growth at HNB Assurance

HNB Assurance Ltd has been successful yet again in recording growth in both turnover and profitability despite operating within a fiercely competitive market environment, according to the half-yearly results released last week.

The company said its turnover, measured by its Gross Written Premium, grew by 33% to cross the Rs.500 million mark during the six months ended 30th June. At the same time the company was able to achieve a growth of 33% in its profitability too, recording a net profit after tax of Rs. 21.3 million.

“Strengthening its position further as a growing force in the local insurance industry, the company introduced several new initiatives such as the introduction of a Zero Interest monthly installment plan and the launch of a unique micro insurance product. The company also opened two new branches in Embilipitiya and Ja-Ela during the current year,” the statement said.