Union Assurance PLC
CCSELK:UAL.N000066.00
LKR
-1.00
(-1.49%)
ISIN
LK0179N00008
Return %
Stock
S&P 500
1Y
-21.62
14.20
3Y
65.83
81.12
5Y
130.37
68.34
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.Company Description
- CEO
- Senath Jayatilake
- Full Time Employees
- 821
- Sector
- Finance
- Industry
- Life/Health insurance
- Address
- Colombo Sri Lanka
- IPO Date
- Oct 17, 1988
- Website
- unionassurance.com
- Similar Companies
- Business
- Union Assurance PLC is a Sri Lanka-based life insurance company that provides a comprehensive suite of life, health, investment, and retirement insurance solutions to individual, corporate, and institutional clients across Sri Lanka. Founded in 1987 and headquartered in Colombo, Sri Lanka, the company operates as a subsidiary of John Keells Holdings PLC, one of the country's largest diversified conglomerates. Union Assurance PLC operates primarily through the Life Insurance segment, offering a broad portfolio of underwriting, wealth protection, and financial planning products categorized into: term life, whole life, and universal life protection plans; comprehensive hospitalization, surgical cash benefit, and critical illness riders; unit-linked life insurance, single-premium investment, and endowment savings policies; customized child education fund plans; individual and group retirement annuity schemes; and group life, credit life, group hospitalization, and gratuity management solutions for corporate enterprises. The company distributes its solutions through an extensive island-wide branch network, a dedicated agency sales force, digital distribution platforms, and bancassurance partnerships with premier banking institutions. In recent operational developments, Union Assurance PLC has accelerated its digital transformation by expanding its proprietary Clicklife digital ecosystem, integrating comprehensive wellness tracking, self-service policy administration, and automated claims settlement capabilities. The company has also strengthened its bancassurance footprint through expanded and renewed strategic distribution partnerships with leading commercial banks, including Nations Trust Bank, Commercial Bank of Ceylon, and Sampath Bank. Additionally, the company has enhanced its product portfolio with advanced critical illness covers addressing modern lifestyle medical conditions, implemented AI-driven straight-through underwriting processes to accelerate policy issuance, and expanded its Union Assurance Premier advisory channel to cater to high-net-worth individuals and affluent market segments across Sri Lanka.