Union Assurance exceeds expectations on dividend based policies

Union Assurance has once again declared actual dividend rates that are significantly higher than the guaranteed minimum rates published at the beginning of the year. This is a clear indication of the effectiveness of the Union Assurance policies as well as evidence of its stability. 

The company declared a 10.5% dividend rate on their dividend based policies for year 2016. This is a significantly higher rate than the minimum guaranteed rate of 8% which is even higher than the average market interest rate of 7.1% for year 2016. Keeping its promise of delivering the best for the customers, UA has declared an interim dividend rate of 10% for all the dividend based policies for the year 2017. 

The company’s ‘With Profit’ policyholder’s who were in force as at 31 December 2016 will receive an annual bonus for 2016, which will be added to their policy. The company has been able to pay higher benefits to its valued policyholders due to its continued growth in 2016 by earning over Rs. 8.3 billion in gross written premiums.

General Manager, Life Operations Iroshini Tittagalla commenting on the achievement stated, “The company’s performance in 2016 continued in an upward trajectory and it has considerably strengthened its position over that of previous years. The outlook for Union Assurance in 2017 continues to be extremely positive. The strong numbers this year demonstrates our determination to achieve, and our commitment to reward the trust and confidence placed upon us by our loyal customers.”

Union Assurance operates on the platform of Trust, which enforces the brand values of convenience, respect, and transparency. Union Assurance believes that sustainable growth can be achieved and maintained through the use of correct strategies that ensure that the right people and the best processes are in place to provide an all-round customer experience. UA has protected many lives in Sri Lanka over the past 30 years, and will continue its journey of ‘Trusted Protection’.