27:
261:
246:
229:
212:
197:
180:
160:
424:
Market research conducted by the company revealed low levels of saving patterns among Sri
Lankans. The study revealed that Sri Lankans fall behind recommended 10%-15% of gross salary savings. A quarter of the population had no savings while 37% saved between 1%-5% of their income. The company
311:. Union Assurance was founded in 1987 and was listed on the Colombo Stock Exchange in the following year. In 2009, John Keells Holdings acquired a controlling stake in the company. The company divested its general insurance business to
409:, an annual list of publicly traded companies in Sri Lanka ranked by revenue, in its 2020/21 edition. Union Assurance is placed 51st amongst the most valuable brands in Sri Lanka. The
2121:
2126:
890:
683:
390:
list. The company was the only Sri Lankan company on the list that year. The company introduced its new logo in 2020, which emphasises the company's
1360:
1107:
1163:
426:
65:
997:
804:
971:
1081:
2131:
2116:
1023:
1338:
708:
425:
appointed Jude Gomes as the chief executive officer in 2019. At the time of his appointment Gomes was the chairman and CEO of
1969:
942:
840:
2090:
58:
1353:
1055:
1156:
172:
1781:
1989:
351:
of the insurance sector with the enactment of the
Control of Insurance Act No. 42 of 1986. Sri Lankan conglomerate
1232:
430:
1346:
1704:
1149:
370:. Union Assurance held 8.7% of insurance sector assets in 2016, making them the fourth biggest player behind
1668:
1613:
1187:
1525:
1683:
418:
1893:
1834:
1688:
1623:
1490:
1370:
1227:
863:
2020:
1806:
1419:
745:
339:, Mercantile Credit and Whittall Boustead. The company commenced operations and was listed on the
323:
100 companies in Sri Lanka. The company is also one of the 100 most valuable brands in Sri Lanka.
1964:
1852:
1638:
1368:
391:
344:
205:
2064:
1908:
1883:
1771:
1766:
1618:
1222:
1209:
1204:
1028:
782:
413:
grew by 10.5% in 2022 to LKR1,982 million according to Brand
Finance. Union Assurance provides
340:
54:
775:
2015:
1943:
1592:
1375:
1108:"Union Assurance recognised as one of Sri Lanka's most outstanding women-friendly workplaces"
454:
1903:
1796:
1658:
1505:
1295:
1270:
1237:
1172:
352:
274:
8:
1582:
891:"Union Assurance only Lankan firm to make it to Forbes 'Best Under Billion' List in 2018"
371:
348:
355:
acquired 81% shares in Union
Assurance in 2009 thus giving them control of the company.
2010:
1918:
1786:
1761:
1756:
1714:
1678:
1653:
1540:
1465:
1265:
1196:
403:
375:
363:
336:
315:
and focused on life insurance in 2015. The company was a constituent of Forbes Asia's
1867:
1816:
1735:
1643:
1480:
1285:
836:
718:
367:
312:
1994:
1959:
1857:
1801:
1648:
1485:
1033:
238:
163:
141:
2095:
1862:
1577:
1520:
1429:
830:
410:
366:
businesses in 2015, and divested its stake in the non-life insurance business to
71:
1024:"Union Assurance expands Bancassurance footprint with Pan Asia Bank partnership"
916:
1633:
1628:
1587:
1530:
1500:
1316:
359:
269:
40:
2110:
2085:
2043:
1984:
1923:
1888:
1751:
1673:
1535:
1515:
1475:
1290:
1250:
414:
332:
48:
1979:
1928:
1730:
1597:
1561:
1545:
1449:
1439:
1424:
1311:
1938:
1663:
1510:
383:
2048:
1974:
1811:
1470:
1398:
1141:
189:
26:
31:
Current logo was introduced in 2020 which depicts the "circle of life"
2069:
1898:
1393:
1379:
1056:"Union Assurance study reveals low saving patterns among Sri Lankans"
379:
308:
82:
1933:
1913:
1444:
805:"Fairfax set to transform general insurance landscape in Sri Lanka"
713:
343:
in the following year. Union
Assurance entered the market when the
1791:
1495:
1434:
111:
1186:
1776:
1414:
1321:
868:
1136:
285:
998:"Union Assurance celebrates partnership with Commercial Bank"
429:
in the
Philippines. Union Assurance won an award at the 2022
221:
1709:
972:"Union Assurance and Union Bank strike bancassurance deal"
776:"Summary, Findings, Conclusions & Policy Implications"
1082:"Union Assurance appoints a new Chief Executive Officer"
684:
List of companies listed on the
Colombo Stock Exchange
835:. Oxford Business Group. 12 May 2016. p. 93.
1195:
2122:Financial services companies established in 1987
2108:
740:
738:
736:
709:"Union Assurance unveils powerful new identity"
674:Source: Annual Report, 2023 (pp. 300–301)
2127:Companies listed on the Colombo Stock Exchange
427:Manulife China Bank Life Assurance Corporation
1354:
1157:
733:
319:list in 2018. Union Assurance is one of the
703:
701:
699:
382:. In 2018, Union Assurance was included in
147:Senath Jayatilake (Chief Executive Officer)
1361:
1347:
1164:
1150:
923:. Media Services Pvt Ltd. 2022. p. 76
25:
1171:
696:
331:Union Assurance was founded in 1987 by
2109:
773:
1970:Citizens Development Business Finance
1342:
1145:
978:. Wijeya Newspapers. 24 February 2012
811:. Wijeya Newspapers. 10 February 2015
2091:Colombo Land and Development Company
1088:. Wijeya Newspapers. 4 November 2019
1114:. Upali Newspapers. 17 October 2022
1062:. Upali Newspapers. 29 October 2022
897:. Wijeya Newspapers. 27 August 2018
13:
445:Financial figures are in LKR (mns)
402:Union Assurance is ranked 54th in
14:
2143:
1782:Distilleries Company of Sri Lanka
1130:
1004:. Wijeya Newspapers. 5 April 2022
952:. Brand Finance. 2022. p. 16
2132:Insurance companies of Sri Lanka
2117:1987 establishments in Sri Lanka
260:
259:
245:
244:
228:
227:
211:
210:
196:
195:
179:
178:
159:
158:
1684:The Nuwara Eliya Hotels Company
1233:Cinnamon Life Integrated Resort
1100:
1074:
1048:
1016:
990:
964:
431:Women Friendly Workplace Awards
296:Footnotes / references
1990:People's Leasing & Finance
1705:Diesel & Motor Engineering
935:
909:
883:
856:
823:
797:
767:
417:in collaboration with several
394:in the life insurance sector.
1:
1571:Consumer Durables and Apparel
1188:Cinnamon Hotels & Resorts
689:
397:
249:LKR24.161 billion (2023)
232:LKR95.670 billion (2023)
1614:Aitken Spence Hotel Holdings
1526:Richard Pieris & Company
358:Union Assurance divided its
200:LKR3.758 billion (2023)
183:LKR4.944 billion (2023)
16:Sri Lankan insurance company
7:
1619:Asian Hotels and Properties
677:
436:
307:is an insurance company in
10:
2148:
1858:Ceylon Hospitals (Durdans)
1745:Food, Beverage and Tobacco
1724:Food and Staples Retailing
1491:E. B. Creasy & Company
1371:S&P Sri Lanka 20 Index
326:
166:29.958 billion (2023)
2078:
2057:
2034:
2003:
1952:
1914:National Development Bank
1894:Commercial Bank of Ceylon
1876:
1843:
1835:Swadeshi Industrial Works
1825:
1744:
1723:
1697:
1624:Ceylon Hotels Corporation
1606:
1570:
1555:Automobile and Components
1554:
1458:
1407:
1386:
1304:
1278:
1259:
1228:Cinnamon Lakeside Colombo
1179:
294:
280:
268:
253:
236:
219:
204:
187:
170:
154:
132:
122:
106:
88:
78:
64:
46:
36:
24:
2021:Softlogic Life Insurance
1420:Chevron Lubricants Lanka
215:LKR83.420 billion (2023)
1965:Central Finance Company
1853:Asiri Hospital Holdings
1634:Galadari Hotels (Lanka)
345:Government of Sri Lanka
2065:Vallibel Power Erathna
1953:Diversified Financials
1909:HDFC Bank of Sri Lanka
1772:Ceylon Tobacco Company
1767:Ceylon Grain Elevators
1223:Cinnamon Grand Colombo
1210:Cinnamon Citadel Kandy
1205:Cinnamon Bentota Beach
783:University of Moratuwa
341:Colombo Stock Exchange
94:; 37 years ago
2016:Janashakthi Insurance
1944:Union Bank of Colombo
1844:Health Care Equipment
1807:Lion Brewery (Ceylon)
1659:Mahaweli Reach Hotels
1593:Hela Apparel Holdings
1376:All Share Price Index
832:The Report: Sri Lanka
755:. Union Assurance PLC
2086:C T Land Development
1904:Hatton National Bank
1797:Keells Food Products
1679:The Lighthouse Hotel
1669:The Fortress Resorts
1506:John Keells Holdings
1296:Victoria Golf Course
1271:Keells Food Products
1238:Cinnamon Red Colombo
1173:John Keells Holdings
943:"Sri Lanka 100 2022"
746:"Annual Report 2023"
388:Best Under a Billion
353:John Keells Holdings
317:Best Under a Billion
275:John Keells Holdings
92:January 8, 1987
1583:Dankotuwa Porcelain
1374:←
1324:(supermarket chain)
774:Sharma, K. (2006).
447:
372:Sri Lanka Insurance
368:Fairfirst Insurance
349:government monopoly
313:Fairfirst Insurance
305:Union Assurance PLC
255:Number of employees
124:Number of locations
21:
20:Union Assurance PLC
2011:Ceylinco Insurance
1919:Nations Trust Bank
1868:Nawaloka Hospitals
1787:Harischandra Mills
1762:Ceylon Cold Stores
1757:Carson Cumberbatch
1715:Singer (Sri Lanka)
1654:John Keells Hotels
1541:Softlogic Holdings
1466:Access Engineering
1266:Ceylon Cold Stores
1197:John Keells Hotels
441:
419:banks in Sri Lanka
376:Ceylinco Insurance
337:Carson Cumberbatch
19:
2104:
2103:
2049:Sri Lanka Telecom
2035:Telecommunication
1828:Personal Products
1817:Sunshine Holdings
1736:Cargills (Ceylon)
1689:Trans Asia Hotels
1607:Consumer Services
1481:Brown and Company
1445:Swisstek (Ceylon)
1373:
1336:
1335:
1286:Crescat Boulevard
1246:
1245:
1218:
1217:
950:brandirectory.com
864:"Union Assurance"
842:978-1-910068-59-5
719:Wijeya Newspapers
672:
671:
446:
442:Financial summary
302:
301:
2139:
1995:Vallibel Finance
1960:Capital Alliance
1802:Lanka Milk Foods
1664:TAL Lanka Hotels
1649:Jetwing Symphony
1486:Colombo Dockyard
1369:
1363:
1356:
1349:
1340:
1339:
1193:
1192:
1184:
1183:
1166:
1159:
1152:
1143:
1142:
1137:Official website
1124:
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1093:
1078:
1072:
1071:
1069:
1067:
1052:
1046:
1045:
1043:
1041:
1034:Upali Newspapers
1020:
1014:
1013:
1011:
1009:
994:
988:
987:
985:
983:
968:
962:
961:
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795:
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765:
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731:
730:
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726:
705:
448:
444:
440:
290:
287:
263:
262:
248:
247:
241:
231:
230:
224:
214:
213:
199:
198:
182:
181:
173:Operating income
162:
161:
142:Krishan Balendra
102:
100:
95:
74:
29:
22:
18:
2147:
2146:
2142:
2141:
2140:
2138:
2137:
2136:
2107:
2106:
2105:
2100:
2096:Overseas Realty
2074:
2053:
2036:
2030:
2026:Union Assurance
1999:
1948:
1872:
1863:Lanka Hospitals
1845:
1839:
1827:
1821:
1740:
1719:
1693:
1639:Hayleys Leisure
1602:
1578:Ambeon Holdings
1566:
1550:
1521:Renuka Holdings
1454:
1430:Dipped Products
1403:
1382:
1367:
1337:
1332:
1328:Union Assurance
1300:
1274:
1255:
1242:
1214:
1175:
1170:
1133:
1128:
1127:
1117:
1115:
1106:
1105:
1101:
1091:
1089:
1080:
1079:
1075:
1065:
1063:
1054:
1053:
1049:
1039:
1037:
1036:. 8 August 2022
1022:
1021:
1017:
1007:
1005:
996:
995:
991:
981:
979:
970:
969:
965:
955:
953:
945:
941:
940:
936:
926:
924:
915:
914:
910:
900:
898:
889:
888:
884:
874:
872:
862:
861:
857:
847:
845:
843:
829:
828:
824:
814:
812:
803:
802:
798:
788:
786:
778:
772:
768:
758:
756:
748:
744:
743:
734:
724:
722:
721:. 18 March 2020
707:
706:
697:
692:
680:
443:
439:
400:
329:
298:
284:
264:780 (2023)
256:
237:
220:
192:
175:
150:
135:
125:
118:
114:
98:
96:
93:
70:
51:
32:
17:
12:
11:
5:
2145:
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2119:
2102:
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2099:
2098:
2093:
2088:
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2059:
2055:
2054:
2052:
2051:
2046:
2040:
2038:
2032:
2031:
2029:
2028:
2023:
2018:
2013:
2007:
2005:
2001:
2000:
1998:
1997:
1992:
1987:
1982:
1977:
1972:
1967:
1962:
1956:
1954:
1950:
1949:
1947:
1946:
1941:
1936:
1931:
1926:
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1911:
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1692:
1691:
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1671:
1666:
1661:
1656:
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1646:
1644:Hunas Holdings
1641:
1636:
1631:
1629:Citrus Leisure
1626:
1621:
1616:
1610:
1608:
1604:
1603:
1601:
1600:
1595:
1590:
1588:Hayleys Fabric
1585:
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1565:
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1533:
1531:Royal Ceramics
1528:
1523:
1518:
1513:
1508:
1503:
1501:Hemas Holdings
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1325:
1319:
1317:John Keells IT
1314:
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1131:External links
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2044:Dialog Axiata
2042:
2041:
2039:
2033:
2027:
2024:
2022:
2019:
2017:
2014:
2012:
2009:
2008:
2006:
2002:
1996:
1993:
1991:
1988:
1986:
1985:LOLC Holdings
1983:
1981:
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1961:
1958:
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1951:
1945:
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1927:
1925:
1924:Pan Asia Bank
1922:
1920:
1917:
1915:
1912:
1910:
1907:
1905:
1902:
1900:
1897:
1895:
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1889:Cargills Bank
1887:
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1826:Household and
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1752:Bairaha Farms
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1674:The Kingsbury
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1980:LOLC Finance
1929:Sampath Bank
1846:and Services
1731:C T Holdings
1598:Teejay Lanka
1562:Kelani Tyres
1546:Vallibel One
1450:Tokyo Cement
1440:JAT Holdings
1425:CIC Holdings
1327:
1312:Cinnamon Air
1116:. Retrieved
1111:
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239:Total equity
222:Total assets
107:Headquarters
72:LK0179N00008
37:Company type
2079:Real Estate
1939:Seylan Bank
1511:Lanka Tiles
1279:Real estate
1180:Hospitality
411:brand value
384:Forbes Asia
2111:Categories
1975:LB Finance
1884:Amana Bank
1812:Melstacorp
1471:ACL Cables
1399:LAUGFS Gas
1112:The Island
1060:The Island
1029:The Island
690:References
468:Employees
398:Operations
347:ended the
190:Net income
144:(Chairman)
134:Key people
99:1987-01-08
2070:WindForce
2058:Utilities
2004:Insurance
1899:DFCC Bank
1792:HVA Foods
1698:Retailing
1408:Materials
1394:Lanka IOC
1380:Sri Lanka
1118:6 January
1092:7 January
1066:7 January
1040:7 January
1008:7 January
982:6 January
956:6 January
927:6 January
921:lmd100.lk
917:"LMD 100"
901:6 January
875:6 January
848:6 January
815:6 January
789:6 January
725:6 January
309:Sri Lanka
117:Sri Lanka
83:Insurance
59:UAL.N0000
49:Traded as
2037:Services
1934:SDB bank
1086:Daily FT
1002:Daily FT
976:Daily FT
895:Daily FT
809:Daily FT
714:Daily FT
678:See also
437:Finances
364:non-life
79:Industry
1496:Hayleys
1435:Haycarb
759:7 March
327:History
281:Website
155:Revenue
112:Colombo
97: (
89:Founded
57::
1777:Dilmah
1415:Alumex
1387:Energy
1322:Keells
869:Forbes
839:
753:cse.lk
662:35,604
642:31,014
622:35,693
605:11,965
602:43,067
596:10,118
585:13,672
582:49,117
576:11,244
565:14,663
562:55,249
556:11,648
545:15,108
542:62,600
536:13,109
525:15,455
522:70,762
516:15,406
505:14,214
502:75,969
496:16,675
485:24,161
482:95,670
476:18,867
465:Equity
462:Assets
459:Profit
270:Parent
41:Public
1877:Banks
1305:Other
946:(PDF)
779:(PDF)
749:(PDF)
665:6,211
656:5,945
645:3,465
639:2,347
636:6,965
625:3,867
619:1,313
616:8,271
599:7,384
579:3,244
559:1,158
519:2,054
499:2,747
479:3,758
1710:Odel
1260:Food
1120:2023
1094:2023
1068:2023
1042:2023
1010:2023
984:2023
958:2023
929:2023
903:2023
877:2023
850:2023
837:ISBN
817:2023
791:2023
761:2024
727:2023
668:445
653:2014
648:450
633:2015
628:474
613:2016
608:529
593:2017
588:614
573:2018
568:764
553:2019
548:795
533:2020
528:770
513:2021
508:798
493:2022
488:780
473:2023
451:Year
378:and
362:and
360:life
288:.com
66:ISIN
659:881
539:921
455:GWP
407:100
405:LMD
386:'s
321:LMD
206:AUM
164:LKR
55:CSE
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