SRI LANKA’S HNB ENJOYS 12% PROFIT JUMP

A BOOST investments contributed to a 12% increase in the quarter’s net profits at Sri Lanka’s HNB Assurance. The Rupees15.9m after tax profit was also helped by a 12% increase in gross written premiums to Rupees457m. Investment income for the quarter totalled Rupees108m, which represented a 42% increase over last year. Life insurance remains the largest part of HNB’s business although both life and non-life turnover was up year-on-year. HNB’s general insurance operations enjoyed a 13% increase in turnover to Rupee240m, while life insurance turnover was up 12.6% to Rupees457m