Union Assurance PLC, Sri Lanka’s longest-standing private Life Insurer, is proud to announce that its Annual Report for 2024, themed “Folds of Value”, has been honoured with the Silver Award in the Life Insurance category at the prestigious SAFA Best Presented Annual Report Awards 2024. Organised by the South Asian Federation of Accountants (SAFA), the award [TJ1] recognises excellence in financial reporting, integrated reporting, and corporate governance across South Asia.
The South Asian Federation of Accountants (SAFA) is a regional body dedicated to advancing the accounting profession across South Asia. Its mission is to harmonise accounting, auditing, and ethical standards while promoting transparency and accountability in financial reporting. SAFA serves as a collaborative platform for professional accounting organisations and drives initiatives that strengthen corporate governance and integrated reporting. Through its Best Presented Annual Report Awards, the federation honours organisations that excel in disclosure, compliance with international standards, and stakeholder engagement, setting benchmarks for quality and integrity in financial communication.
The 2025 award ceremony, held in Islamabad, Pakistan, brought together leading institutions and regional delegates to celebrate excellence in governance and reporting. In the Life Insurance category, Union Assurance was honoured with the Silver Award, which stands as the highest recognition achieved by a Sri Lankan company in this segment. This accolade underscores the Company’s commitment to producing financial statements of the standard, aligned with international accounting standards and global best practices.
Celebrating this achievement, the Chief Financial Officer, Himani Weerasekera stated: “Our Annual Report goes beyond compliance. It reflects our values and our focus on integrity in everything we do. This achievement highlights the dedication of our finance team and the entire organisation to uphold the highest standards in reporting and disclosure. We are honoured to be recognised among the best in South Asia.”
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 across seven diverse industry sectors. The company has completed over three decades of success, with a market capitalisation of Rs. 36.5 billion and a Life Fund of Rs. 77.5 billion as of end December 2024. Committed to protecting lives and enriching the well-being of all Sri Lankans, Union Assurance offers life insurance solutions that cover health, investment, protection, retirement, and education needs. With an island-wide branch network and a workforce of over 4,300, Union Assurance continues to invest in people, products, and processes with a customer-centric focus to remain responsive to emerging changes in the life insurance industry.
