Business and Economics
HNB Assurance and General Insurance to sponsor Lanka Cavaliers

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) recently pledged support to Lanka Cavaliers as the clothing sponsor for one year.

Lanka Cavaliers came into existence 23 years back and is made up of famous cricketers who have represented Sri Lanka and other clubs. The club, whilst providing a platform for senior cricketers to engage in the sport they love so very much, is also focused on aiding the development of cricket in the rural areas of the country to give children the opportunity to engage in the sport.
HNBA and HNBGI Chief Executive Officer Prasantha Fernando, stated, “We are extremely delighted to join hands with Lanka Cavaliers, since aiding sports and supporting the value of great sportsmanship has been a part of the Group’s Corporate Philanthropy. Over the years the HNBA Group joined hands to support several sports teams including the Deaf Cricket Team of Sri Lanka. Whilst thanking Lanka Cavaliers for this opportunity, I hope that this sponsorship will help in carrying on the mission of the club and wish them well in all their future endeavours.”
Nokia C01 Plus brings reliability to low-priced 4G phones

HMD Global, the home of Nokia phones, introduces its latest Android 11 (Go edition) smartphone joining the C-series family – Nokia C01 Plus. Award-winning build quality upgraded to 4G and moulded into a trusty enabler for tasks, education, and entertainment, Nokia C01 Plus is the first 4G enable Nokia device with the lowest price in the Sri Lankan Market. Nokia C01 Plus delivers impressive power behind a crisp HD+ screen, supported by all-day battery life2. Plus, the top-notch security Nokia phones support in maintaining the safe and secured atmosphere, promised by a Nokia phone. Pan Asia HMD Global General Manager Ravi Kunwar said,“Improved in key areas including power, display and connectivity, the Nokia C01 Plus sets a new benchmark for the entry-level, being the most affordable 4G Nokia smartphone in the local market.

Read More
Pandemic has mixed effects on Insurance Industry -IASL

The Insurance Association of Sri Lanka celebrated National Insurance Day on the 1st of September 2021. Insurance Month will be commemorated to spread awareness about the importance of insurance and its relevance at present. As all industries in the country undergo continuous challenges and changes during the global pandemic, the insurance industry has been dynamic in its approach to customers in providing timely policy solutions.

IASL President Iftikar Ahamed provided a look inside the insurance industry, detailing the changes in the industry landscape and IASL’s role during this time.

“The pandemic has had mixed effects on the insurance industry in the past year. The Life Insurance Industry Gross Written Premium (GWP) grew by 16% to cross the LKR 100 billion threshold in 2020, and the first six months of 2021 saw a growth of 30%, which is a remarkable number despite the effects of the previous year. The import of motor vehicles had a detrimental effect on the General Insurance sector, which had negative growth of 1.3% towards GWP of LKR 99.5 billion in 2020. The first half of 2021 too recorded negative growth of 0.3%.

“As the apex body of the industry, insurance awareness month is utilized to spread awareness of the relevance and importance of insurance to every Sri Lankan. We have seen many insurance providers explore new avenues that would be timely solutions for our customers as they push the traditional limits in solutions and selling by transitioning into the digital sphere, reducing overall turnaround times. These have to be taken to the public in quick and efficient ways, where aggressive marketing and sales become key. The Insurance Awareness month, therefore, becomes more crucial this year.”

Read More