Union Assurance, Sri Lanka’s longest-standing private Life Insurer, celebrated its Bancassurance and Corporate channels at the Partnership Distribution Annual Awards 2024 held at Cinnamon Life at City of Dreams. Themed ‘A New Era of Expansion’, the event underscored the Company’s commitment to strengthening its leadership in Partnership Distribution, with a clear focus on empowering the progress of customers across the island.
With the largest portfolio of partnerships among leading private banks, Union Assurance continues to set industry benchmarks in the Bancassurance space by delivering best-in-class solutions. In addition, the Company has expanded its network of strategic partnerships to meet customers where they are, ensuring greater accessibility to Life Insurance solutions that are tailored to meet the unique needs of every individual. The event was graced by the President of the Leisure Group of John Keells Holdings and Director of Union Assurance, Mr. Suresh Rajendra and the senior management at Union Assurance.
The Chief Executive Officer at Union Assurance, Senath Jayatilake, stated, “The Partnership Distribution Annual Awards 2024 is a key highlight in our calendar–a celebration of the exceptional talent and dedication that drives Union Assurance forward and our theme perfectly captures our strategic vision and unwavering commitment to transforming how Life Insurance is delivered and experienced across Sri Lanka”.
“We are immensely proud of our Bancassurance and Corporate channels whose achievements we honour tonight. Their relentless pursuit of excellence has not only reinforced our leadership in the industry but has also brought us closer to our vision of making Life Insurance more accessible and relevant, empowering the progress of every Sri Lankan”, he added.
The Chief Partnership Distribution Officer at Union Assurance, Wathsala Aluthgedara, stated, “Union Assurance has long been a dominant force in Partnership Distribution within Sri Lanka’s Life Insurance sector. Our journey began with Bancassurance, where we have proudly grown to become the market leader, holding the largest partnership portfolio in the industry. Today, we are broadening our focus by forging new strategic alliances beyond Bancassurance, with the aim of seamlessly integrating Life Insurance into the everyday lives of our customers”.
“We extend our heartfelt congratulations to the exceptional teams behind this remarkable achievement. As we continue to grow, we remain committed to empowering our people through continuous training, development programmes and industry-leading rewards, ensuring they are equipped to deliver outstanding service and value to our customers”, she said.
Union Assurance is a subsidiary of John Keells Holdings PLC (JKH), the largest conglomerate listed on the Colombo Stock Exchange, operating with over 80 companies in 7 diverse industry sectors. The Company has completed over three decades of success with a Market Capitalisation of Rs. 36.5 Bn and a Life Fund of Rs. 77.5 Bn as at end December 2024. Set to protect lives and enrich the well-being of all Sri Lankans, Union Assurance offers Life Insurance solutions that cover the health, investment, protection, retirement and education needs of Sri Lankans. With an island-wide branch network and a workforce that is over 4300 strong, Union Assurance continues to invest in people, products and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry.
