Union Assurance Circle of Excellence Launches Most Exclusive Bancassurance Rewards Programme

Union Assurance, Sri Lanka's fastest-growing Life insurer, has made history yet again by launching the UA Circle of Excellence - the most exclusive bancassurance rewards scheme in the Sri Lankan insurance industry designed to recognise the Company’s high-performing Insurance Relationship Officers (IROs), Regional Managers, and Zonal Managers.

Vindya Cooray, the Chief Bancassurance Officer of Union Assurance, stated, “The UA Circle of Excellence was launched as a tribute to the hard work and commitment of our sales force, and to provide opportunities for them to enjoy the best rewards and recognitions in the industry. While rewarding high performers, this programme also intends to develop a customer-centric and enthusiastic workforce capable of recognizing superior customer need assessments and service delivery to enrich the purchasing and user experience of customers."

The UA Circle of Excellence offers a wide array of financial, lifestyle, recognition, skill development, and membership rewards. Amongst the array of benefits offered include a luxury vehicle, foreign tours, significant cash rewards, quarterly mobile bill allowances, Customised Circle of Excellence merchandise, and opportunities for career advancement through exclusive training and development programmes.

With many accolades under its belt, the Bancassurance channel of Union Assurance has grown over the years to become the most premier bancassurance provider in Sri Lanka, covering over 360 bank branches of four leading bank partners.

Moreover, Union Assurance has become the fastest growing Life insurance company in regular new business premiums among the top five players in Sri Lanka. The Company surpassed GWP of 13 billion, establishing it as the 4th largest on Regular New Business Premium Production.

Union Assurance is a part of the John Keells Group, one of Sri Lanka’s largest listed conglomerates. It is among the most awarded Insurance companies in Sri Lanka, completing over three decades of success with a market capitalization of Rs. 16.6 Bn, a Life Fund of Rs. 45.3 Bn and a Capital Adequacy Ratio (CAR) of 300% as at June 2021. Set to empower the Sri Lankan Dream, Union Assurance offers Life Insurance solutions that cover education, health, investment, protection, and retirement needs of Sri Lankans. With 76 branches and an over 3,000-strong workforce, 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.