Union Assurance and Union Bank renew successful partnership


In a move that promises to expand the bancassurance footprint in Sri Lanka, Union Assurance and Union Bank have extended their alliance for seven years. The renewal of the exclusive partnership agreement on 19 May, 2022, is a milestone that reinforces a very successful relationship.

The agreement was signed by the Chief Executive Officer of Union Assurance PLC, Jude Gomes, and the Chief Executive Officer of Union Bank, Indrajit Wickramasinghe. The event was also attended by the Chief Bancassurance Officer of Union Assurance, Vindya Cooray, Senior Vice President, Retail Banking at Union Bank, Chaya Jayawardane, Vice President, Retail Liability Products & Alternate Channels at Union Bank, Manisha Fernando, and Channel Head of Union Assurance, Chamara Nadhishantha.

The Union Assurance-Union Bank partnership has enhanced the portfolio value of both companies and paved the way for sustainable business growth. It has also empowered the bank’s customer base by facilitating access to a broad range of innovative Life Insurance solutions under one roof while fulfilling their banking needs.

Union Bank is one of Sri Lanka’s highest capitalised banks with over 25 years of service and is supported by the strength of the global investment firm TPG. With a solid foundation etched with financial stability and international know-how, Union offers a full range of products and services to Retail, SME, and Corporate segments.