Union Assurance ranked No. 1 insurance company in LMD Most Awarded

Friday, 22 January 2021 00:00 - - {{hitsCtrl.values.hits}}

Union Assurance ranked No. 1 among insurance companies in the Life and Non-life categories in LMD’s Most Awarded. The inaugural edition ranks the nation’s most respected corporations for their outstanding achievements both at home and abroad, bringing immense pride to the business community. The edition pays homage to the ‘Most Awarded’ companies in Sri Lanka by tallying the cumulative awards of business establishments between January 2019 and September 2020.

The LMD research produced 204 corporate entities ranked based on their tally of awards for the period under review. The Hall of Fame represents the 50 most awarded organisations in rankings with Union Assurance taking 14th position.

Commenting on the achievement, Union Assurance Chief Executive Officer Jude Gomes stated, “I am honoured that we have made it to the Hall of Fame, and moreover ranked No. 1 in the Insurance category. Our customers and our employees are always front and centre of our strategies, and that has been the winning formula for our achievements. The unwavering support of my team and our partners has remained a constant through all our endeavours, and I take this opportunity to deeply appreciate the contributions made by you all.”

The Company’s notable achievements are attributed to headway made in adapting a new operating model, and trailblazing a digital roadmap to adapt to the changing landscape posed by the events of 2019 and 2020. These initiatives received due recognition at the prestigious Insurance Asia Awards 2020 when it was awarded the coveted Domestic Life Insurer of the Year and the Celent Award (a part of the Oliver Wyman Group) for Digital Insurer of the Year.

Union Assurance also lead the way in the insurance segment achieving the Gold Award for Best Annual Report, Corporate Social Responsibility, National Business Excellence and Best Employer Brand for Talent Management awarded by the Institute of Chartered Accountants – recognitions for value created across its diverse group of stakeholders.

The Company was also awarded as a Great Place to Work for the eighth consecutive year, a testament to its commitment to sustain a high-trust workplace culture. Union Assurance was also recognised by CMO Asia and CMO Global with awards for Best Brand, Best Employer Brand and Sustainable Marketing Excellence. With these, and many other accolades under its belt, Union Assurance continues to pursue market excellence on multiple fronts making the accolades a testament to the Company’s superior accomplishments.

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 billion, a Life Fund of Rs. 41.3 billion 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.