Offers free vehicle insurance policy:

HNB Assurance support to popularise electric vehicles

HIRAN H. SENEWIRATNE

HNB Assurance Limited, a fully-owned subsidiary of Hatton National Bank, is offering a one-year free vehicle insurance policy for zero emission electrical motor vehicles as a part of their Corporate Social Responsibility (CSR) activity.

A pilot project of the Ministry of Urban Development and the Ministry of the Environmental and National Resources promotes electric vehicles as an alternative solution to the high cost of fuel prices, HNB Assurance Managing Director Manjula de Silva said.

He said both Ministries are using these vehicles to transport their employees as a pilot project. The Lanka Electric Vehicle Association launched this project in collaboration with the Ministries of Urban Development and Environment and Natural Resources.

This vehicle does not emit noxious fumes and could run with a battery without using fossil fuel.

It is also a sound-free car. They are planning to popularise this concept as a solution to the energy crisis.

HNB Assurance has touched the turnover of more than Rs one billion for the nine months of this year. It was able to show a 31 per cent growth for the first nine months of the year despite the high competition and falling down of premium insurance prices during recent times.

The company is mainly focusing on the rural areas to promote their insurance schemes and policies including North and Eastern areas.

The company has achieved satisfactory growth since it started five years ago.

The company enjoys a three per cent market share on general insurance and 3.5 per cent on motor insurance business. They are now focusing on the micro finance sector.

They have formed an alliance with the financial arm of Sarvodaya Organisation, Sarvodaya Economic Enterprise Development Services (Guarantee) Limited which is one of the growing areas of the company, he said.