HNB General Insurance Ltd (HNBGI), the best General Bancassurance Provider in Sri Lanka recognized by the Global Banking and Finance Review, entered into a Memorandum of Understanding with Hatton National Bank, establishing a strategic partnership to offer a range of insurance coverages for all customers who obtain an HNB Adhishtana loan. Adhishtana is a facility where a loan up to 2.6Mn is granted for skilled migrants from Hatton National Bank. This collaboration marks the first-ever business-to-business market segment agreement between the two entities.
The Adhishtana loan facility is specifically offered for skilled employees embarking on foreign employment facilitated through the Sri Lankan Bureau of Foreign Employment, this collaboration offers a range of extensive benefits and coverage including a Death Benefit, Total and Permanent Disability Benefit, Death Due to Accident, Permanent Total Disablement, Total loss by physical severance or total permanent loss, Non-payment of bank loan due to repatriation before the end of the loan tenure due to valid reasons such as being medically unfit for the assigned job role or the unfortunate demise of the insured’s immediate family member, Loss of baggage, Loss of Passport, Reimbursement of hospitalization expenses for a maximum of 10 days.
Mr. Sithumina Jayasundara, CEO of HNB General Insurance, shared his thoughts on the collaboration, stating, “We are thrilled to partner Hatton National Bank on this exciting venture. Individuals venturing into international job markets encounter unique challenges and risks, while the Adhishtana loan addresses the financial requirements of individuals seeking employment opportunities abroad, we are happy to offer them that added level of financial security and peace of mind through a range of insurance coverages. Also, this partnership highlights our commitment to offer innovative solutions that meet the evolving demands of our customers.”
Mr. Supun Dias, AGM of Network Management & Business Development at Hatton National Bank, emphasized the significance of this partnership, stating, ” Our collaboration with HNB General Insurance empowers us to offer an integrated and comprehensive solution to our customers encompassing both financial support and insurance protection. This joint endeavor showcases our commitment as a group, where we leverage our respective strengths to offer the best possible solution to our valued customers, particularly those seeking employment opportunities overseas. This unified offering not only provides them with exceptional financial support but also ensures robust insurance coverage, fostering a sense of security and confidence.”
HNB General Insurance Limited (HNBGI) was incorporated in January 2015 and specializes in Motor and Non-Motor Insurance Solutions and is presently one of the fast-growing General Insurance Companies in Sri Lanka, with a network of 57 branches. The Company is ranked within the Top 100 Brands in the country and has been awarded a ‘National Insurer Financial Strength Rating’ of A- (lka) by Fitch Ratings Lanka Limited and has obtained the Great Place to Work® Certification. The Company was awarded the Motor Insurance Initiative of the Year – Sri Lanka award at the Insurance Asia Awards 2021, and is a fully owned subsidiary of HNB Assurance PLC.
Image Caption – MOU Signing between Hatton National Bank and HNB General Insurance.
