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Highest ever GWP in Q1 for HNB Assurance

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1Highest ever GWP in Q1 for HNB Assurance Empty Highest ever GWP in Q1 for HNB Assurance Tue May 27, 2014 10:14 pm

Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

HNB Assurance PLC recorded a growth of 24% in its turnover measured by Gross Written Premium in the quarter ended 31st March 2014. Its Life Insurance GWP grew by 34% outpacing the Life Insurance market which grew by only about 10% in the first quarter of 2014. The Company’s achievement in the General Insurance sector recorded a growth of 16% while the General Insurance market recorded a decline by about 1%, a press release said.

It adds: ‘The combined GWP of Rs. 1.14 Billion achieved in the quarter turned out to be the highest ever recorded by the Company in a single quarter. The combined GWP achievement of Rs. 538.3 Million in the month of March also established a new record as the highest ever GWP recorded in a month.

‘According to Manjula de Silva, Managing Director of HNB Assurance, "this outstanding achievement is attributed to the renewed focus and energy with which the two recently segregated Life and General distribution teams commenced their operations". He is hopeful that the momentum built during the first quarter will be carried through during the entire year enabling the Company to end its last year as a composite Company on a high note.

http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=103963

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