Strong growth at HNB Assurance

HNB Assurance PLC posted a strong growth in its turnover according to the interim results released for the six months ended June 30, 2011.

Its total turnover for the six months as measured by the Gross Written Premium (GWP) recorded a growth of 31 percent against the corresponding period last year.

The General Insurance turnover grew by 36 percent while the life insurance turnover recorded a growth of 26 percent. Motor (42%) and Miscellaneous (90%) classes of insurance recorded the highest rate of growth.

According to Managing Director of HNB Assurance PLC, Manjula de Silva the Company achieved these high rates of growth due to an increase in sales volumes and an upward revision in premium rates.