HNB Assurance and HNB General Insurance recently held a workshop partnering Mr. Ravi Abeysuriya, CFA to present and distribute his latest book, “Financial Literacy – to achieve your financial wellbeing.” This collaboration aims to promote financial literacy and empower individuals to make informed financial decisions to secure a prosperous future.
Mr. Ravi Abeysuriya, a Non-executive / Independent Director of the HNB Assurance PLC board, is a veteran in the field of Banking and Finance. He Chairs and presides on the boards and committees of multiple organizations and was honorably named “Lifetime Achievement” award laureate by CFA Institute, USA in 2017 for his outstanding work and dedication to the investment management profession. Sharing his thoughts at the presentation and distribution event of his book, he opined,
“Firstly, I’d like to extend my heartfelt gratitude to the Management of HNBA and HNBGI for their invaluable partnership in propagating this message of financial literacy, empowering a wider audience to shape their financial destinies.”
Sri Lanka has the highest gap between print literacy and financial literacy in the region. On Average, 65% of the adults in advanced economies are financially literate. South Asia records the lowest percentage of financial literacy, with Sri Lanka coming in at about 35%.
“Numerous studies have indicated that insurance penetration is among the most reliable indicators of financial literacy in any society. Unfortunately, Sri Lanka currently exhibits a penetration of less than 2%, reflecting a significant disparity in comparison to the global average,” highlighted Mr. Abeysuriya, shedding light on the prevailing situation in Sri Lanka.
While encouraging the participants to read and understand the book “Financial Literacy – to achieve your financial wellbeing,” Mr. Abeysuriya emphasized the importance of equipping oneself with the knowledge and skills contained within the book to make informed and pertinent financial decisions.
“Comprehending how money works and effectively managing personal finances are crucial steps toward attaining financial stability. Budgeting, planning, investing, asset accumulation and managing borrowings are practices adopted by successful organizations. Similarly, it is important that we apply these skills to our personal lives as well, equipping ourselves with the necessary knowledge and empowering ourselves to make sound financial decisions based on our current financial needs.”
The presentation and distribution event was graced by esteemed guests including the Chairman, Director General and other members of the Insurance Regulatory Commission of Sri Lanka (IRCSL), the CEO of Chartered Financial Analysts (CFA) along with the Chairperson, CEOs and Senior Management and members of the advisory teams from both HNBA and HNBGI.
The Chief guest of the event Mr. Razik Zarook PC, Chairman of the IRCSL sharing his views at the event stated, “I am deeply honored to be a part of this significant and momentous occasion today. The principles of financial management, articulated in the ‘Sigalovada Sutta’ of the Digha Nikaya almost 2500 years ago continue to hold relevance even in today’s complex economic landscape. I can’t think of a better way to create awareness among people than going back to the words of the Exalted one, the principles of whom, I’m certain this book encapsulates.”
He further commended the efforts of all parties who came together to bring life to such an important and timely piece of literature “My congratulations to Mr. Ravi Abeysuriya and my sincere appreciation goes to the HNBA group for embarking upon such an initiative to propagate such an important message. My earnest desire is that this book reaches a wide audience, where all Sri Lankans can embrace the necessary knowledge and insights for their Financial Wellbeing.”
The book Financial Literacy to Achieve your Financial Wellbeing is available in all three languages and can be downloaded via the link –
HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 64 branches. HNBA is a Life Insurance company with a rating of ‘A-‘ (lka) by Fitch Ratings Lanka for ‘National Insurer Financial Strength Rating’. Following the introduction of the segregation rules by the Insurance Regulator, HNB General Insurance Limited (HNBGI) was created and commenced its operations in January 2015; HNBGI continues to specialize in motor, non-motor and Takaful insurance solutions and is a fully owned subsidiary of HNB Assurance PLC.
HNB General Insurance has been assigned a ‘National Insurer Financial Strength Rating’ of ‘A-‘ (lka) by Fitch Ratings Lanka Limited. HNBA is rated within the Top 100 brands and Top 100 companies in Sri Lanka by LMD and HNB Assurance has won international awards for Brand Excellence, Digital Marketing and HR Excellence including the Great Place To Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.
Photo Caption: (From the left) Mr. Ravi Abeysuriya – Author of Financial Literacy, Mr. Razik Zarook PC – Chairman, IRCSL, Mrs. Damayanthi Fernando – Director General, IRCSL, Mrs. Rose Cooray – Chairperson, HNB Assurance PLC and HNB General Insurance Limited, Mr. Lasitha Wimalaratne – CEO, HNB Assurance PLC, Mr. Sithumina Jayasundara – CEO, HNB General Insurance Limited.