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Union Assurance hosts virtual gala for annual awards


Union Assurance takes digital disruption to the next level as it felicitated top achievers of the Agency and Bancassurance sales force at a glittering Virtual Gala on 18th December 2020. The event was viewed by over 5000 participants and attended by a distinguished leadership including the John Keells Chairman, Krishan Balendra and President,  John Keells Group, Suresh Rajendra.

The Virtual Annual Awards celebrated the success of 2019 as the sales teams braved the challenges of the year to deliver outstanding results. The award ceremony was received with much appreciation as Union Assurance embraced the opportunities of the new normal to deliver a best-in-class virtual event on Friday night.

The event celebrated the exceptional annual performance of over 350 award-winners comprising Advisors, Insurance Relationship Officers, Regional Managers, Zonal Managers and Team Leaders from the agency network of 76 branches and 498 bancassurance branches. For the first time in Union Assurance history, the Awards felicitated the exceptional performance of Sales Support Officers and the prestigious CEO’s Award that recognized three individuals and one team for the exceptional delivery of initiatives in their respective areas.

In his speech, Krishan Balendra, Chairman John Keells Group stated, “Union Assurance has achieved many feats despite the challenges in 2019 following the April attacks and in 2020 with the pandemic… The achievements in these times have proven the team’s commitment to one goal, demonstrating resilience, devotion, and loyalty.”

Addressing the team in his opening remarks Suresh Rajendra, Director Union Assurance and Sector President, John Keells Group commented, “We look forward to your continued commitment, not only in achieving your own goals, but in supporting your team members to continuous success, so that we may in future share this stage with a star-studded line-up of achievers who will take Union Assurance to new heights.”

Taking account of the challenges in the recent months, Jude Gomes, Chief Executive Officer of Union Assurance stated, “2020 has been a most challenging year for all of us, but our team has made this a remarkable year for Union Assurance. Despite the lockdown, despite the pandemic, despite the challenges in our midst, this team has delivered exceptional results. Today, we have achieved highest growth in new business premium amidst our industry players, we have improved our market ranking to be the Fourth largest insurance company in terms of new business premium, and we have enhanced the number of MDRTs. My sincere congratulations to all who made this happen.”

The 2020 was a year of significant achievement for Union Assurance as it was recognized as Best Brand, Best Employer Brand, and Sustainable Marketing Excellence. For the first time in Sri Lanka’s history, Union Assurance received international recognition with two finalists in the categories of Best Insurance Relationship Officer and Best Bancassurance Partnership at the Asia Trusted Life Agents Awards. The icing on the cake was Union Assurance being recognized as the Domestic Life Insurer of 2020.

Union Assurance is a part of the John Keells Group, Sri Lanka’s largest listed conglomerate. It is among the most awarded Insurance companies in Sri Lanka, completing over three decades of success with a market capitalization of Rs. 18.2 Bn, a Life Fund of Rs. 41.3 Bn and a Capital Adequacy Ratio (CAR) of 447% as at November 2020. 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 3000-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.

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