Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.

Sri Lanka Fitch upgrades HNB Assurance rating to ‘A(lka)’

Sept 22, 2009 (LBO) - Fitch Ratings said it has upgraded Sri Lanka HNB Assurance's (HNBA) National Long-term rating to 'A(lka)' from 'A-(lka)' with a stable outlook. Concurrently, Fitch has affirmed HNBA's National Insurer Financial Strength (IFS) rating at 'A(lka)'.
online pharmacy http://www.kelvintech.com/kelvintech/wp-content/themes/innotech/img/png/singulair.html no prescription drugstore

"The upgrade of HNBA's National Long-term rating reflects mainly the implicit capital, franchise and distribution support from Hatton National Bank (HNB, National Long-term rating 'AA-(lka)')," the rating agency said in a statement.

HNBA's major shareholders are HNB with a 59.99 percent stake and Alliance Finance Co with 9.
online pharmacy http://www.kelvintech.com/kelvintech/wp-content/themes/innotech/img/png/cytotec.html no prescription drugstore
97 percent, while the remaining 30.04 percent of the company's shares are widely held.

With total assets of 2.8 billion rupees, HNBA was Sri Lanka's sixth largest insurer at end-2008.

"Although parental support has always been a critical element of HNBA's credit profile, Fitch believes the company's strategic importance to the bank has grown since its incorporation in 2001," says Stanley Tsai, Director in Fitch's insurance team.
buy zydena online buy zydena online no prescription

Fitch said it expects HNBA to further increase its "distribution synergies" with its parent through on-going product development, b

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x