Sri Lanka’s HNB Assurance separates general insurance

Mar 29, 2014 (LBO) - Sri Lanka's HNB Assurance Plc said it will set up a separate unit to take over its general insurance business under a regulatory decision to split all composite insurers.

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HNB Assurance is a unit of listed Hatton National Bank.

The firm's shareholders had approved a resolution to transfer assets and liabilities of the general insurance business to HNB General Assurance Ltd, the firm said in a stock exchange filing.

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