UA clinches two awards at National Business Excellence Awards 2011

Union Assurance (UA), one of Sri Lanka’s largest providers of Life and General insurance solutions, continued its winning streak at this year’s National Business Excellence Awards 2011.

Comfortably relating to its position in the industry, UA clinched the Gold award in the insurance sector. This was the third consecutive year in which it was nominated and received an award in this category.

UA’s ability to remain sustainable and competitive was reflected in the growth momentum achieved in both Life and General insurance segments of the business. Scaling up the UA brand five places from 33 to 28 in 2011 and receiving an ultimate brand rating of AA+ with a brand valuation of Rs. 1.22 billion on Brand Finance’s ‘Most Valuable Sri Lankan Brands’ were also contributing factors.

“The recognition received at the National Business Excellence awards is a testimony of our continued commitment to deliver the promise of trust to all stakeholders. The award simply recognises the dedication of each and every team member of Union Assurance, without whom this would be impossible. This is their victory to celebrate,” said UA CEO Dirk Pereira.

For the third consecutive year, UA also won an award for Excellence in Performance Management Practices. This award was made more significant as UA was the only insurance company to be recognised under this category.

The National Business Excellence Awards is conducted by the National Chamber of Commerce of Sri Lanka, to recognise performance and excellence of the corporates in Sri Lanka whilst inspiring and rewarding them.

UA recently launched the first standalone health policy in the country ‘Union Family Health Net’. The policy offers protection up to 150% of the annual limit for 30 critical illnesses and free accidental death cover of 200% of the annual limit. This is yet another innovative product launched by UA that is appealing to the consumer and is relevant to current market situations.

UA is known for its transparency and convenience with a brand promise built on trust and strongly believes in continuous learning and improvement and achieving what is required to provide quality service.