Union Assurance, Sri Lanka’s longest-standing private Life Insurer, secured three accolades at The Diamond Chapter of the TAGS Awards 2025 ceremony, held at the Shangri-La, Colombo. Driven by its purpose to protect what matters most, the Company received a Bronze Award in the Insurance Companies (Gross Premium Above LKR 10 Bn) sector category, a Certificate of Recognition for Integrated Reporting, and a Certificate of Recognition for Corporate Governance Disclosure; all in recognition of its Annual Report for 2024, themed “Folds of Value”.
Organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), the TAGS Awards mark six decades of continuous commitment to exemplifying Transparency, Accountability, Governance, and Sustainability (TAGS) in corporate reporting among Sri Lankan organisations, and are widely regarded as the nation’s foremost platform for recognising continued efforts to uphold the highest standards in both financial and non-financial reporting. Over the years, the awards have evolved to reflect a holistic framework anchored in these four pillars, mirroring the growing expectation for organisations to demonstrate rigour and integrity across all facets of how they report.
The Bronze Award in the Insurance Companies (Gross Premium Above LKR 10 Bn) sector attests to Union Assurance’s high-calibre annual reporting within Sri Lanka’s large-cap insurance landscape. The Certificates of Recognition for Integrated Reporting and Corporate Governance Disclosure honour, respectively, the cohesive narrative connecting financial performance with strategy and long-term value creation, and the clarity with which the Company has articulated its governance frameworks; reflecting the high standards it upholds in transparency, accountability, and board-level oversight.
“These distinctions at the TAGS Awards 2025 affirm that our Annual Report, ‘Folds of Value’, delivered on its core purpose providing a complete, substantive and well governed account of Union Assurance’s performance and strategic direction,” said Himani Weerasekera, Chief Financial Officer at Union Assurance. “Each recognition speaks to various dimensions of reporting standards: sector standing, integrated thinking, and governance disclosures. Collectively, they represent our commitment to excellence in communication, that our story is as important as the story itself. We remain steadfast in raising the bar on all fronts of annual disclosures, and this milestone inspires us to go further.”
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 nearly four decades of success with a Market Capitalisation of Rs. 45.6 Bn and a Life Fund of Rs. 92.8 Bn as of end December 2025. 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 3000-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.
Union Assurance PLC is licensed by the Insurance Regulatory Commission of Sri Lanka (IRCSL).
