Insurance Cover

May 15, 2007 (LBO) – HNB Assurance net profit for the first quarter ended March 31, 2007 rose seven percent to 12.9 million rupees, according to provisional results released to the Colombo Stock Exchange. Total revenue rose 24 percent to 269.7 million rupees while Gross Written Premium rose 24 percent to 324 million rupees and net written premium, less premium ceded to reinsurers, rose 21 percent to 258.6 million rupees.

A subsidiary of Hatton National Bank, HNB Assurance’s net profit after tax increased to 91.3 million from 60.2 million rupees in 2006, while gross written premium grew by 36 percent to 1.1 billion rupees.