Celebrates Bancassurance Excellence with Union Bank

Union Assurance, Sri Lanka’s leading Bancassurance service provider, hosted Diamond Awards 2023 for the Union Bank Bancassurance channel at the Waters Edge Hotel, Battaramulla. The event was held under the theme “Unbreakable Brilliance,” befitting the partnership’s strength and robustness in leading the Bancassurance sector. The event was attended by the Executive Committee members, the management and team members of both companies, to recognise and reward the achievements of the Union Bank Bancassurance channel.

With over 85 winners celebrated, the main highlight of the event was recognising the winners of the Diamond Award Competition held in 2023, and members who qualified for the CEO’s Lounge Competition. The winners were rewarded with a range of exciting prizes, including cash rewards and overseas tours.

The award for the Best Zonal Manager was won by Chaminda Fernando while Kasun De Silva won the award for the Highest Fee Income Generation under Zonal Manager category. The Annual Shield Champion Award was won by the Pettah Branch while the Warakapola, Kuliyapitiya, Kotahena, Moratuwa, Nawala and Borella branches were recognized as Diamond Club winners for 2023

The Chief Partnership Distribution Officer at Union Assurance, Wathsala Aluthgedara stated, “The Diamond Awards 2023 not only commemorates the longstanding partnership between Union Assurance and Union Bank for over 12 years but also seeks to celebrate the dedication of all our team members in the Bancassurance channel. Our partnership with Union Bank has always exemplified our mutual dedication to setting benchmarks in the Bancassurance landscape of Sri Lanka. We are confident that our partnership will continue to strengthen in the future, enabling us to continue playing a pivotal role in reducing the protection gap faced at large in society.”

The Chief Executive Officer at Union Bank, Indrajit Wickramasinghe stated, “Union Bank and Union Assurance have enjoyed a fruitful partnership since its inception. We have been able to achieve strong growth over the years, considering this collaboration has enhanced our product offerings while also improving our customer’s financial well-being with innovative Life Insurance solutions. As we move forward, we remain dedicated to delivering excellence in Bancassurance services alongside Union Assurance, and creating lasting value for our customers.”

Union Assurance is a subsidiary of John Keells Holdings PLC (JKH), the largest conglomerate listed on the Colombo Stock Exchange, operating with over 70 companies in 7 diverse industry sectors. The Company has completed over three decades of success with a Market Capitalisation of Rs. 23.6 Bn, and a Life Fund of Rs. 64.5 Bn as of end December 2023. 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 4,000-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.