Reported Earnings • May 01
First quarter 2026 earnings released: EPS: LK₨1.80 (vs LK₨2.01 in 1Q 2025) First quarter 2026 results: EPS: LK₨1.80 (down from LK₨2.01 in 1Q 2025). Revenue: LK₨10.5b (up 34% from 1Q 2025). Net income: LK₨269.9m (down 10% from 1Q 2025). Profit margin: 2.6% (down from 3.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to LK₨142, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 13x in the Insurance industry in Sri Lanka. Total returns to shareholders of 246% over the past three years. Upcoming Dividend • Mar 24
Upcoming dividend of LK₨5.00 per share Eligible shareholders must have bought the stock before 31 March 2026. Payment date: 23 April 2026. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Sri Lankan dividend payers (4.8%). Lower than average of industry peers (5.2%). Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: LK₨15.90 (vs LK₨12.65 in FY 2024) Full year 2025 results: EPS: LK₨15.90 (up from LK₨12.65 in FY 2024). Revenue: LK₨33.7b (up 27% from FY 2024). Net income: LK₨2.38b (up 26% from FY 2024). Profit margin: 7.1% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨129, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 14x in the Insurance industry in Sri Lanka. Total returns to shareholders of 210% over the past three years. Declared Dividend • Feb 26
Dividend increased to LK₨5.00 Dividend of LK₨5.00 is 28% higher than last year. Ex-date: 31st March 2026 Payment date: 23rd April 2026 Dividend yield will be 4.0%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Feb 25
HNB Assurance PLC announces Annual dividend, payable on April 23, 2026 HNB Assurance PLC announced Annual dividend of LKR 5.0000 per share payable on April 23, 2026, ex-date on March 31, 2026 and record date on April 02, 2026. Reported Earnings • Nov 05
Third quarter 2025 earnings released: EPS: LK₨1.85 (vs LK₨1.74 in 3Q 2024) Third quarter 2025 results: EPS: LK₨1.85 (up from LK₨1.74 in 3Q 2024). Revenue: LK₨8.81b (up 31% from 3Q 2024). Net income: LK₨277.3m (up 6.4% from 3Q 2024). Profit margin: 3.1% (down from 3.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Nov 01
HNB Assurance PLC, Annual General Meeting, Mar 30, 2026 HNB Assurance PLC, Annual General Meeting, Mar 30, 2026, at 10:00 Sri Lanka Standard Time. Location: at the auditorium of level 22, hnb towers at no. 479, t b jayah mawatha, colombo 10, Sri Lanka Aankondiging • Oct 15
HNB Assurance PLC Appoints Poornima Ranawaka as Non-Independent Non-Executive Director, Effective from October 1, 2025 HNB Assurance PLC has announced the appointment of Poornima Ranawaka as Non-Independent Non-Executive Director to its Board with effect from October 1, 2025. Poornima Ranawaka is a distinguished Attorney-at-Law with nearly 19 years of legal practice and more than 22 years of experience across the banking, Insurance, finance and education sectors. She holds extensive expertise in litigation, risk management, regulatory compliance, human resources, and recoveries. Over the years, she has held several senior leadership positions, including Deputy General Manager - Compliance and Legal at Axis Bank Sri Lanka, Head of Compliance at Pan Asia Banking Corporation and Allianz Insurance Lanka Limited, and Consumer Litigation Manager at Nations Trust Bank PLC. She has been a trailblazer in her field, serving as Vice President and General Secretary of the Association of Compliance Officers of Banks, an Executive Member of the Risk Professionals Association and a member of Sri Lanka's FATCA advisory committee. She also represented the country during the Financial Action Task Force (FATF) evaluation in 2013. She is currently the General Secretary of the Alumni Association of Sri Lanka Law College. She holds academic and professional qualifications, including First Class Honours from Sri Lanka Law College and an LL.M. in International Trade Law from the University of Wales. She has also completed a postgraduate diploma in International Compliance from the University of Manchester. Additionally, she is an Associate Member of the International Compliance Association (UK). Her contributions to the field have earned her honorary professorships in Law Teaching from IEMS, India (ACTD, USA). Ranawaka has fulfilled the requirements for her PhD in Management at Management and Science University (MSU), Malaysia, and is currently awaiting her convocation. She is deeply committed to education, served as a Commercial Law lecturer and the Chief Examiner at Sri Lanka Law College. In addition, she served as the Chairperson of the Curriculum Development Committee at Sri Lanka Law College from 2022 to 2024, playing a pivotal role in shaping and enhancing the institution's academic framework. Her outstanding contributions to legal education were internationally recognised when she was awarded the prestigious International Achievers Award 2024 in India for her "Most Iconic Role in Law Teaching. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: LK₨1.46 (vs LK₨1.60 in 2Q 2024) Second quarter 2025 results: EPS: LK₨1.46 (down from LK₨1.60 in 2Q 2024). Revenue: LK₨7.38b (up 17% from 2Q 2024). Net income: LK₨218.4m (down 8.7% from 2Q 2024). Profit margin: 3.0% (down from 3.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Jul 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Lasitha Wimalaratne was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to LK₨102, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 11x in the Insurance industry in Sri Lanka. Total returns to shareholders of 273% over the past three years. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: LK₨2.01 (vs LK₨1.57 in 1Q 2024) First quarter 2025 results: EPS: LK₨2.01 (up from LK₨1.57 in 1Q 2024). Revenue: LK₨7.87b (up 20% from 1Q 2024). Net income: LK₨301.0m (up 28% from 1Q 2024). Profit margin: 3.8% (up from 3.6% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 10
Now 21% overvalued Over the last 90 days, the stock has fallen 8.2% to LK₨73.50. The fair value is estimated to be LK₨60.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 7.7%. Upcoming Dividend • Mar 25
Upcoming dividend of LK₨3.90 per share Eligible shareholders must have bought the stock before 01 April 2025. Payment date: 23 April 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Sri Lankan dividend payers (5.8%). Higher than average of industry peers (4.4%). Declared Dividend • Feb 21
Dividend of LK₨3.90 announced Dividend of LK₨3.90 is the same as last year. Ex-date: 1st April 2025 Payment date: 23rd April 2025 Dividend yield will be 4.5%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Feb 20
HNB Assurance PLC announces Annual dividend, payable on April 23, 2025 HNB Assurance PLC announced Annual dividend of LKR 3.9000 per share payable on April 23, 2025, ex-date on April 01, 2025 and record date on April 02, 2025. Reported Earnings • Feb 20
Full year 2024 earnings released: EPS: LK₨12.65 (vs LK₨11.76 in FY 2023) Full year 2024 results: EPS: LK₨12.65 (up from LK₨11.76 in FY 2023). Revenue: LK₨26.5b (up 14% from FY 2023). Net income: LK₨1.90b (up 7.5% from FY 2023). Profit margin: 7.2% (down from 7.6% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Dec 30
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to LK₨77.40. The fair value is estimated to be LK₨63.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 11%. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: LK₨1.74 (vs LK₨1.13 in 3Q 2023) Third quarter 2024 results: EPS: LK₨1.74 (up from LK₨1.13 in 3Q 2023). Revenue: LK₨6.73b (up 14% from 3Q 2023). Net income: LK₨260.5m (up 54% from 3Q 2023). Profit margin: 3.9% (up from 2.9% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Aankondiging • Oct 31
HNB Assurance PLC, Annual General Meeting, Mar 28, 2025 HNB Assurance PLC, Annual General Meeting, Mar 28, 2025, at 10:00 Sri Lanka Standard Time. Location: auditorium, level 22, hnb towers, no. 479, t b jayah mawatha, colombo 10, Sri Lanka Board Change • Sep 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Non-Executive Director Prawira Saldin was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 06
Second quarter 2024 earnings released: EPS: LK₨1.59 (vs LK₨1.42 in 2Q 2023) Second quarter 2024 results: EPS: LK₨1.59 (up from LK₨1.42 in 2Q 2023). Revenue: LK₨6.29b (up 20% from 2Q 2023). Net income: LK₨239.2m (up 13% from 2Q 2023). Profit margin: 3.8% (down from 4.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 08
HNB General Insurance Limited and HNB Assurance plc Announces Chairman Changes HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) announced the appointment of Stuart Chapman as the new Chairman, succeeding Rose Cooray. With a career spanning four decades in multinational and local companies across diverse industries and particularly Insurance, Chapman brings a wealth of expertise to the organization. Chapman holds an MBA from the University of Colombo, a Diploma in Marketing from the Chartered Institute of Marketing (CIM-UK), a Diploma in Life Insurance Sales and Marketing from the Life Underwriters Training Council (USA) and a Diploma in Business Management from the National Institute of Business Management (NIBM). His professional affiliations include being a Fellow Member of the Chartered Institute of Marketing (UK) and the Institute of Management (UK) as well as a Member of the Institute of Certified Management Accountants (Australia). In addition to 16 years in insurance, Chapman has also held leadership positions in industries such as Healthcare, FMCG, Consumer Durables, Banking and Telecommunications. He has previously served as the Managing Director of GlaxoSmithKline (GSK) Pharmaceuticals, Director Life at Ceylinco Insurance, Managing Director LOLC, Director/CEO of Janashakthi Insurance, Marketing Director Reckitt Benckiser, and Senior Brand Manager Unilever, among other significant roles. Chapman currently serves as an Independent Non-Executive Director of Hemas Pharmaceuticals (Pvt) Limited and United Motors Lanka PLC. Aankondiging • May 09
HNB Assurance PLC Announces Board Changes HNB Assurance PLC announced the Retirement of the present Chairperson of the Board and Non-Independent (Non-Executive Director, Mrs. Mirihana Arachchige Rose Chandralatha Cooray, who will be completing her term on 23 May 2024 as per the direction (Direction no: 02 of 2022 dated 25 February 2022) of the Insurance Regulatory Commission of Sri Lanka and Appointment of Non-Independent /Non-Executive Director, Mr. Stuart Anthony Chapman as the Chairman of the Board with effect from 24 May 2024. Mr. Chapman holds an MBA from the University of Colombo and a Diploma in Marketing from the Chartered Institute of Marketing, UK. Additionally, he possesses a Diploma in Life Insurance Sales and Marketing from the Life Underwriters Training Council, USA, and a Diploma in Business Management from the National Institute of Business Management, Sri Lanka. His distinguished affiliations include being a Fellow Member of the Chartered Institute of Marketing, UK, and the Institute of Management, UK, as well as a Member of the Institute of Certified Management Accountants, Australia With over 40 years of managerial expertise in sales, marketing, and general management functions, Mr. Chapman has made significant contributions across diverse industries such as Healthcare, FMCG, Consumer Durables, Insurance, Banking, and Telecommunications. His leadership extends beyond organization, as he serves as an Independent Non-Executive Director of Hemas Pharmaceuticals (Pvt) Limited and United Motors Lanka PLC. Mr. Chapman's illustrious career includes a tenure as the former Managing Director of GlaxoSmithKline (GSK) Pharmaceuticals, where he also sat on the Boards of Glaxo Wellcome Ceylon Limited and SmithKline Beecham Pvt. Ltd. Prior roles encompassed leadership positions such as Managing Director of the Hemas Healthcare Sector, Marketing Director at Reckitt Benckiser, and Senior Brand Manager at Unilever. He has also held the positions of Managing Director/CEO at Lanka Orix Leasing Company and Director Life at Ceylinco Insurance. Notably, Mr. Chapman served as a former Director/CEO of Janashakthi Insurance PLC. His contributions extend beyond corporate roles, as evidenced by his involvement in industry associations. Mr. Chapman has served as the Honorary President and a Founder Member of the Chartered Institute of Marketing Sri Lanka. He has held the position of President of the Sri Lanka Chamber of the Pharmaceutical Industry, the apex body for the pharmaceutical sector in Sri Lanka. Furthermore, he has served as Co- Chairman of the Pharmaceutical & Cosmetics Steering Committee of the Ceylon Chamber of Commerce. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: LK₨1.57 (vs LK₨1.35 in 1Q 2023) First quarter 2024 results: EPS: LK₨1.57 (up from LK₨1.35 in 1Q 2023). Revenue: LK₨6.58b (up 13% from 1Q 2023). Net income: LK₨235.0m (up 16% from 1Q 2023). Profit margin: 3.6% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Aankondiging • May 01
HNB Assurance PLC Announces Board Secretary Changes HNB Assurance PLC informed that Mrs. Kurugalage Yoga Sanjeewani Gunadasa who functioned as the Board Secretary of the Company, will be resigned from the said position with effect from 31st May 2024. Accordingly, the Board of Directors has resolved on 30th April 2024 at its Board Meeting to appoint Ms. Abhayalankara Herath Mudiyanselage Nirosha Madhubhashini Bakmedeniya as the new Board Secretary with effect from 01st June 2024. Madhubhashini was called to the Bar in December 1998 after successfully completing studies at the Law Collage of Sri Lanka. She worked as a junior Attorney - at-Law for Mr. W. Dayarthne P.C. She holds a Master of Business Administration Degree from Postgraduate Institute of Management (PIM) and holder of Diploma in Human Resources Management at IPM. She is the Head of Legal and Compliance/Deputy General Manager at HNB Assurance PLC with proven leadership skills counting over 24 years of experience as a corporate lawyer in the insurance industry out of which 16 years in management positions. Madhubhashini Bakmedeniya was the AGM - Legal (Head of Legal) of the SriLanka Insurance Corporation Ltd. for five years before joining HNB Assurance PLC. Upcoming Dividend • Mar 27
Upcoming dividend of LK₨3.90 per share Eligible shareholders must have bought the stock before 03 April 2024. Payment date: 26 April 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 6.6%. Lower than top quartile of Sri Lankan dividend payers (8.2%). Lower than average of industry peers (7.4%). Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: LK₨11.76 (vs LK₨12.20 in FY 2022) Full year 2023 results: EPS: LK₨11.76 (down from LK₨12.20 in FY 2022). Revenue: LK₨23.3b (up 30% from FY 2022). Net income: LK₨1.76b (down 3.6% from FY 2022). Profit margin: 7.6% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 17
Dividend increased to LK₨3.90 Dividend of LK₨3.90 is 6.8% higher than last year. Ex-date: 3rd April 2024 Payment date: 26th April 2024 Dividend yield will be 6.9%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 32% to shift the payout ratio to a potentially unsustainable range, which is more than the 11% EPS decline seen over the last 5 years. Aankondiging • Jan 11
HNB Assurance Appoints Two Independent Non-Executive Directors HNB Assurance PLC has appointed Lakshman Silva and Dr. Sankalpa Gamwarige as Independent Non-Executive Directors to its Board with effect from January 1. Lakshman Silva is the former CEO/Director of DFCC Bank PLC. He started his professional career at the Department of Inland Revenue of Sri Lanka and joined the DFCC Banking Group in 1987. He was seconded to the service of DFCC Vardhana Bank in 2003 and functioned as Chief Operating Officer until his appointment as CEO/Executive Director in January 2010. Until his retirement in December 2021, he was Chairman of DFCC Consulting Ltd., Lanka Industrial Estates Ltd., and Synapsys Ltd. (subsidiary companies of DFCC Bank PLC) as well as the Chairman of Lanka Financial Services Bureau Ltd. and Sri Lanka Banks' Association (Guarantee) Ltd. He also held the position of Chairman of Acuity Partners Ltd., the joint venture company of DFCC Bank PLC. Silva was a member of the Board of Directors of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), and Board of Management of the Sri Lanka Sustainable Energy Authority. At present he serves as an Independent Director at Seylan Bank PLC, Independent Director of Finetech Consultancy Ltd, while serving as Chairman and Director of Panasian Power PLC and its subsidiary companies. He also serves as Member of the Stakeholder Engagement Committee of the Central Bank of Sri Lanka. Silva is a past President of the Association of Professional Bankers of Sri Lanka. He holds a BCom (Sp.) from the Kelaniya University and an MBA from the Postgraduate Institute of Management of the Sri Jayewardenepura University. He is an Associate Member of the Association of Development Financial Institutions of Asia and the Pacific (ADFIAP). Dr. Sankalpa Gamwarige, PhD is an Innovative Digital Transformational specialist and Tech Talent Enabler with a 20+ year Digital Product Engineering and Electronics Engineering background. Prior to joining Nagarro, he was General Manager and Vice President of Engineering at Zone 24x7 a family-owned Digital Product Company with Operations in USA, UK, Malaysia and Sri Lanka. During his 16 years of Engineering Leadership career at Zone24x7, he led the teams towards: overall winner of the National Best Quality Software Award (NBQSA) 2015, winner of R&D category at Asia Pacific ICT Alliance (APICTA) Awards 2015, Presidential Awards for the highest Value-Added Exporter of the Hi-tech/Innovative Sector 2014, 2015 and 2016. Sankalpa has voluntarily contributed to many national initiatives and forums including SLASSCOM, TRACE, National Innovation Agency (NIA), National Science Foundation (NSF), Export Development Board (EDB), Sri Lanka Institute of Biotechnology (SLIBTEC) and Ceylon Chamber of Commerce (CCC), serving in various capacities such as Advisory and Board level. In addition, he is/was a member of the Board of Studies - Faculty of Graduate Studies and Academic Committee of BIT external degree program - Faculty of IT, Moratuwa University. New Risk • Nov 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.1% Last year net profit margin: 13% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.8% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.1% net profit margin). Market cap is less than US$100m (LK₨7.95b market cap, or US$24.2m). Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: LK₨1.13 (vs LK₨6.91 in 3Q 2022) Third quarter 2023 results: EPS: LK₨1.13 (down from LK₨6.91 in 3Q 2022). Revenue: LK₨5.88b (up 24% from 3Q 2022). Net income: LK₨169.2m (down 84% from 3Q 2022). Profit margin: 2.9% (down from 22% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: LK₨1.42 (vs LK₨1.69 in 2Q 2022) Second quarter 2023 results: EPS: LK₨1.42 (down from LK₨1.69 in 2Q 2022). Revenue: LK₨5.25b (up 26% from 2Q 2022). Net income: LK₨212.5m (down 16% from 2Q 2022). Profit margin: 4.0% (down from 6.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 15
Sivakumar Selliah Retires from the Office of Senior Independent Non-Executive Director of HNB Assurance PLC HNB Assurance PLC announced that Dr. Sivakumar Selliah has retired from the office of Senior Independent Non-Executive Director of the company, upon completing nine years on the board with effect from June 16, 2023. Aankondiging • Jun 03
HNB Assurance PLC Announces Management Changes Mrs. Sitari Jayasundara who functioned as the board secretary of the HNB Assurance PLC, has resigned from the position with effect from May 31, 2023. The Board of Directors has accepted this resignation and resolved to appoint Mrs. Kurugalage Yoga Sanjeewani Gunadasa as the Board Secretary with effect from 01 June 2023. Yoga Sanjeewani is an Attorney-at-law of the Supreme Court of Sri Lanka and holds Bachelor's degree in law from University of Colombo, Master's Degree in Law from University of Colombo, Post Attorney Diploma in International Trade Law from Advanced Legal Studies Unit of Sri Lanka Law College and Diploma in Human Resource Management. Yoga joined HNB Assurance PLC, Parent organization of HNB General Insurance Ltd. in year 2007 and currently heads the overall Legal, Corporate Secretarial and Compliance operation of HNB General Insurance Limited in the capacity of Head of Legal & Compliance Officer/Board Secretary and she is a member of the Senior Management Team. She has over 16 years of professional experience in the fields of Corporate law, Intellectual property, Insurance Law, Property Law, Labour Law and is experienced in all civil litigation. Prior to joining HNB Assurance PLC, Yoga had served in Sri Lanka Insurance Corporation Limited and had worked as a legal researcher at Law & Society Trust, an organization engaged in legal research. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: LK₨1.35 (vs LK₨1.57 in 1Q 2022) First quarter 2023 results: EPS: LK₨1.35 (down from LK₨1.57 in 1Q 2022). Revenue: LK₨5.85b (up 35% from 1Q 2022). Net income: LK₨202.2m (down 14% from 1Q 2022). Profit margin: 3.5% (down from 5.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Upcoming Dividend • Mar 27
Upcoming dividend of LK₨3.65 per share at 7.3% yield Eligible shareholders must have bought the stock before 03 April 2023. Payment date: 27 April 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 7.3%. Lower than top quartile of Sri Lankan dividend payers (7.9%). Higher than average of industry peers (4.1%). Reported Earnings • Feb 21
Full year 2022 earnings released: EPS: LK₨12.20 (vs LK₨8.16 in FY 2021) Full year 2022 results: EPS: LK₨12.20 (up from LK₨8.16 in FY 2021). Revenue: LK₨18.3b (up 34% from FY 2021). Net income: LK₨1.83b (up 50% from FY 2021). Profit margin: 10.0% (up from 9.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨44.50, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 7x in the Insurance industry in Sri Lanka. Total returns to shareholders of 24% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: LK₨6.92 (vs LK₨1.20 in 3Q 2021) Third quarter 2022 results: EPS: LK₨6.92 (up from LK₨1.20 in 3Q 2021). Revenue: LK₨4.74b (up 37% from 3Q 2021). Net income: LK₨1.04b (up 476% from 3Q 2021). Profit margin: 22% (up from 5.2% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: LK₨6.92 (vs LK₨1.20 in 3Q 2021) Third quarter 2022 results: EPS: LK₨6.92 (up from LK₨1.20 in 3Q 2021). Revenue: LK₨4.74b (up 37% from 3Q 2021). Net income: LK₨1.04b (up 476% from 3Q 2021). Profit margin: 22% (up from 5.2% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: LK₨1.69 (vs LK₨1.26 in 2Q 2021) Second quarter 2022 results: EPS: LK₨1.69 (up from LK₨1.26 in 2Q 2021). Revenue: LK₨4.18b (up 36% from 2Q 2021). Net income: LK₨252.9m (up 34% from 2Q 2021). Profit margin: 6.1% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Jun 14
Key Executive recently bought LK₨214k worth of stock On the 6th of June, Mirihana Rose Chandralatha Cooray bought around 6k shares on-market at roughly LK₨35.00 per share. In the last 3 months, they made an even bigger purchase worth LK₨1.2m. Mirihana has been a buyer over the last 12 months, purchasing a net total of LK₨1.9m worth in shares. Aankondiging • Apr 01
HNB Assurance PLC Declares A First and Final Dividend for the Year 2021 HNB Assurance PLC, at its AGM, held on March 31, 2022, declared a first and final dividend of LKR 3.20 per share for the year 2021, to the shareholders as recommended by the Directors. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorated over the past week After last week's 32% share price decline to LK₨34.00, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 7x in the Insurance industry in Sri Lanka. Total returns to shareholders of 2.6% over the past three years. Buying Opportunity • Mar 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.3%. The fair value is estimated to be LK₨57.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 33%. Recent Insider Transactions • Mar 12
Board Member recently bought LK₨490k worth of stock On the 8th of March, Siromi Wickramasinghe bought around 10k shares on-market at roughly LK₨48.97 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought LK₨43m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 15
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: LK₨8.16 (up from LK₨7.84 in FY 2020). Revenue: LK₨13.7b (up 18% from FY 2020). Net income: LK₨1.22b (up 4.1% from FY 2020). Profit margin: 8.9% (down from 10% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 16%. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Buying Opportunity • Jan 20
Now 20% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be LK₨69.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% per annum over the last 3 years. Earnings per share has declined by 31% per annum over the last 3 years. Recent Insider Transactions • Sep 08
Chairperson recently bought LK₨223k worth of stock On the 30th of August, Mirihana Rose Chandralatha Cooray bought around 5k shares on-market at roughly LK₨44.50 per share. This was the largest purchase by an insider in the last 3 months. Mirihana has been a buyer over the last 12 months, purchasing a net total of LK₨2.2m worth in shares. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS LK₨1.26 (vs LK₨2.03 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: LK₨3.08b (up 19% from 2Q 2020). Net income: LK₨188.4m (down 38% from 2Q 2020). Profit margin: 6.1% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jun 17
Chairperson recently bought LK₨218k worth of stock On the 14th of June, Mirihana Rose Chandralatha Cooray bought around 4k shares on-market at roughly LK₨52.90 per share. In the last 3 months, there was an even bigger purchase from another insider worth LK₨41m. Mirihana has been a buyer over the last 12 months, purchasing a net total of LK₨2.0m worth in shares. Recent Insider Transactions • Jun 04
Board Member recently bought LK₨41m worth of stock On the 31st of May, Siromi Wickramasinghe bought around 5k shares on-market at roughly LK₨8,112 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought LK₨33m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 21
Board Member recently bought LK₨550k worth of stock On the 13th of May, Siromi Wickramasinghe bought around 10k shares on-market at roughly LK₨55.00 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold LK₨8.2m more in shares than they bought in the last 12 months. Reported Earnings • May 06
First quarter 2021 earnings released: EPS LK₨0.64 (vs LK₨1.31 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: LK₨3.32b (up 27% from 1Q 2020). Net income: LK₨96.6m (down 51% from 1Q 2020). Profit margin: 2.9% (down from 7.5% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 25
Upcoming dividend of LK₨2.80 per share Eligible shareholders must have bought the stock before 01 April 2021. Payment date: 27 April 2021. Trailing yield: 4.9%. Within top quartile of Sri Lankan dividend payers (4.9%). Higher than average of industry peers (3.3%). Reported Earnings • Mar 11
Full year 2020 earnings released: EPS LK₨7.84 (vs LK₨6.74 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: LK₨11.6b (up 6.4% from FY 2019). Net income: LK₨1.18b (up 16% from FY 2019). Profit margin: 10% (in line with FY 2019). Combined ratio: 83.0% (down from 85.0% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 06
Chairperson recently bought LK₨65k worth of stock On the 3rd of March, Mirihana Rose Chandralatha Cooray bought around 1k shares on-market at roughly LK₨57.50 per share. In the last 3 months, there was an even bigger purchase from another insider worth LK₨1.5m. Mirihana has been a buyer over the last 12 months, purchasing a net total of LK₨987k worth in shares. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS LK₨7.84 (vs LK₨6.74 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: LK₨11.6b (up 6.0% from FY 2019). Net income: LK₨1.18b (up 16% from FY 2019). Profit margin: 10% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Recent Insider Transactions • Dec 20
Chairperson recently bought LK₨180k worth of stock On the 11th of December, Mirihana Rose Chandralatha Cooray bought around 3k shares on-market at roughly LK₨59.87 per share. In the last 3 months, there was an even bigger purchase from another insider worth LK₨1.5m. Mirihana has been a buyer over the last 12 months, purchasing a net total of LK₨485k worth in shares. Recent Insider Transactions • Dec 17
Independent Non-Executive Director recently sold LK₨1.7m worth of stock On the 10th of December, Jayasekera Arachchige Panduka Jayasekera sold around 29k shares on-market at roughly LK₨60.59 per share. In the last 3 months, they made an even bigger sale worth LK₨153m. Insiders have been net sellers, collectively disposing of LK₨162m more than they bought in the last 12 months. Recent Insider Transactions • Dec 15
Independent Non-Executive Director recently sold LK₨153m worth of stock On the 7th of December, Jayasekera Arachchige Panduka Jayasekera sold around 16k shares on-market at roughly LK₨9,309 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of LK₨162m more than they bought in the last 12 months. Recent Insider Transactions • Dec 12
Independent Non-Executive Director recently sold LK₨153m worth of stock On the 7th of December, Jayasekera Arachchige Panduka Jayasekera sold around 16k shares on-market at roughly LK₨9,309 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of LK₨162m more than they bought in the last 12 months. Aankondiging • Dec 02
HNB Assurance PLC, Annual General Meeting, Mar 31, 2021 HNB Assurance PLC, Annual General Meeting, Mar 31, 2021, at 10:00 Sri Lanka Standard Time. Location: at the Auditorium of Level 22, "HNB Towers" at No. 479 T B Jayah Mawatha Colombo Sri Lanka Recent Insider Transactions • Nov 18
Board Member recently sold LK₨8.4m worth of stock On the 13th of November, Siromi Wickramasinghe sold around 50k shares on-market at roughly LK₨167 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of LK₨9.5m more than they bought in the last 12 months. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS LK₨2.33 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: LK₨3.27b (up 16% from 3Q 2019). Net income: LK₨116.5m (up 4.8% from 3Q 2019). Profit margin: 3.6% (down from 3.9% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 19% share price gain to LK₨150, the stock is trading at a trailing P/E ratio of 6.1x, up from the previous P/E ratio of 5.1x. This compares to an average P/E of 6x in the Insurance industry in Sri Lanka. Total returns to shareholders over the past three years are 160%. Is New 90 Day High Low • Nov 06
New 90-day high: LK₨150 The company is up 20% from its price of LK₨125 on 07 August 2020. The Sri Lankan market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 3.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day high: LK₨135 The company is up 17% from its price of LK₨115 on 26 June 2020. The Sri Lankan market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 6.0% over the same period. 
