HNB General Insurance Limited (HNBGI), the fully owned subsidiary of HNB Assurance PLC (HNBA) announced a tie-up with its parent shareholder, the Hatton National Bank PLC (HNB).
Jonathan Alles, Managing Director/CEO of HNB said, “the SME sector contributes a significant amount to the GDP of the country and is considered to be the backbone of this economy. HNB as a leading entity in the private banking sector has taken various measures over the years to strengthen the SMEs, entrepreneurs and start-ups in Sri Lanka. The introduced initiative is one such measure to boost business opportunities as well as to provide fund capital and protection to stabilize the SME sector in the country”.
Managing Director/CEO of HNBA and HNBGI, Deepthi Lokuarachchi stated, “the growing corporation across the Group has created many opportunities and the Company has always endeavored to provide effective Insurance solutions to its customers. Through the synergies of the Group we were able to develop a collaborative and a unique business proposition which offer a special range of General Insurance solutions for SMEs together with other banking solutions under one roof. A collaboration of this nature would offer a significant long-term value creation for stakeholders of both entities. This tie-up marks a natural business extension and opens up new prospects for both HNB and HNBGI. This would further strengthen the Group’s footprint in the financial services market.