HNB Assurance recently convened the highly anticipated New Business Launch and Advisor Distribution Management Forum, showcasing the exceptional performance of its Advisor Distribution Channel which included a remarkable 37% increase in New Business Premium (NBP) growth, a robust 24% growth in Gross Written Premium (GWP) and the prestigious international recognition from Insurance Asia for the Best Distribution Initiative, during the year 2023.
Mr. Lasitha Wimalaratne, CEO of HNBA expressed his thoughts at the forum, stating, “We are extremely proud of the outstanding performance displayed by our Advisor Distribution Channel during the year 2023, a trend they’ve continued over the last three years. This impressive growth in NBP and GWP as well as the other achievements underscores the expertise and resilience of our team.”
HNB Assurance PLC, ended 2023 with a stellar performance both in terms of Gross Written Premium (GWP) and New Business Premium (NBP) with the former seeing 23% growth and the latter reaching 29% above that of the corresponding period last year. The Company, having taken an aggressive stance in terms of sustained growth, implemented various initiatives which have paid off resulting in these impressive figures. In terms of the Million Dollar Round Table (MDRT), the Company produced 202 qualifiers with 5 Top of the Table (TOT) and 20 Court of the Table (COT) qualifiers.
Reaffirming the Company’s commitment to achieving a 10% market share within the next three years, Mr. Wimalaratne emphasized the importance of collective efforts that will propel the organization towards this ambitious target. “As we welcome the new year, I urge everyone to embrace technology, prioritize continuous innovation and enhance customer engagement. With this approach, we will undoubtedly achieve success while remaining on track to achieve our long-term goals.”
The forum highlighted the impressive role and mentorship of the Sales Training and Development team and all senior and branch-level managers responsible in recording a remarkable 92 MDRT qualifiers, including 03 COT and 02 TOT achievers from the Advisor Distribution Channel alone. Mr. Harindra Ramasinghe, Chief Business Officer, Advisor Distribution Channel / General Manager, stated, “I am thrilled to announce that this is the highest ever MDRT achievers recorded from the Advisor Distribution Channel. These achievements reflect not only the individual commitment of our advisors but also the collective strength of our Advisor Distribution Network. Let me take this opportunity to congratulate and thank all our SBU Heads, Zonal Heads, Branch Managers and Trainers for their guidance and support in ensuring we achieve this impressive feat. Looking ahead, HNB Assurance is poised to leverage on its success built over the past couple of years. “The achievements celebrated today are a result of our well-crafted strategies and collective efforts, I’m confident that we will continue to champion excellence while providing exceptional value and protection to our customers and achieve even greater heights in 2024.”, added Mr. Ramasinghe
