Union Assurance Announces Unmatched 12% Universal Life Dividend Rate for 2024

Union Assurance, Sri Lanka’s leading Life Insurer, is proud to announce a 12% Universal Life Dividend Rate for the financial year 2024. This rate exceeds the Minimum Guaranteed Dividend Rate of 10% for the year, underscoring the Company’s steadfast commitment to delivering exceptional value to its customers. Union Assurance’s consistent ability to exceed expectations and offer industry-leading dividend rates highlights its strong financial performance, reinforces its position as a trusted industry leader and sets the stage for continued growth and stability in the year ahead.

Union Assurance’s Chief Executive Officer, Senath Jayatilake, stated, “At Union Assurance, we are committed to creating lasting value across all aspects of our business to support the unique journeys of progress of our customers. The 12% Universal Life Dividend Rate for the financial year 2024 is just one example of how we consistently exceeded expectations, offering value not only through superior dividends but also through our customer-centric approach, robust financial strategies and long-term vision. We believe that value creation is a holistic process and our efforts span every touchpoint, ensuring that our customers benefit from the strength, stability and integrity that define Union Assurance. We also express our gratitude to our customers and shareholders for their continued trust and confidence in our Company”.

The Company’s Chief Financial Officer, Himani Weerasekera, stated, “We are delighted by the declared Universal Life Dividend Rate for the financial year 2024, which reflects our continued strong financial performance and commitment to delivering value to our customers. This is a result of our disciplined approach to financial management, prudent investment strategies and effective risk management practices. These efforts ensure that Union Assurance remains financially resilient, adaptable to market conditions and well-positioned to deliver exceptional value in a manner that benefits our customers both now and in the future”.

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. 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.