Sampath Bank and Union Assurance enter into Bancassurance partnership

Monday, 3 February 2025 03:53 - - {{hitsCtrl.values.hits}}

The exchange of agreement between Sampath Bank and Union Assurance, with Union Assurance Chief Executive Officer Senath Jayatilake (third from left), and Sampath Bank Managing Director Ayodhya Iddawela Perera (third from right). Also, present (from left) are Union Assurance Chief Partnership Distribution Officer Wathsala Aluthgedara; Chief Financial Officer Himani Weerasekera; Sampath Bank Chief Financial Officer Ajantha de Vas Gunasekara; and Senior Deputy General Manager, Marketing, Customer Care and Card Centre Tharaka Ranwala

Sampath Bank has yet again reinforced its position as a premier financial services institution by entering a strategic partnership with Union Assurance, leading Bancassurance service provider, to deliver one-stop-shop financial and protection solutions to its customers.

Through this partnership, a comprehensive range of exclusive life insurance solutions of Union Assurance will complement and be seamlessly integrated into Sampath Bank’s extensive product portfolio, providing bank customers with convenient, all-encompassing solutions for both their banking and life insurance needs.

The strategic partnership was formalised through an agreement signed on 30 January. Leveraging Sampath Bank’s extensive branch network and advanced digital capabilities, Union Assurance’s offerings will be easily accessible to all customers, providing a seamless process to not only guarantee financial security but also enrich the long-term well-being of the bank’s customers.

This collaboration brings together two leading players in Sri Lanka’s financial services sector, united by a shared commitment to excellence, innovation, and customer-centric solutions. Both Sampath Bank and Union Assurance have been deeply knitted into the lives of Sri Lankans for nearly four decades, empowering thousands to achieve their financial goals. Having extensive experience and a deep understanding of Sri Lanka’s diverse financial services landscape, these institutions bring unmatched expertise and insight to the partnership.

Sampath Bank Managing Director Ayodhya Iddawela Perera said: “As one of Sri Lanka’s leading financial institutions, we are proud to join hands with Union Assurance in this exclusive partnership, which marks a transformative chapter in the nation’s financial services landscape. By seamlessly integrating Union Assurance’s innovative life insurance solutions into Sampath Bank’s extensive product portfolio, we are empowering our customers with greater convenience, security, and access to a broader range of financial and protection solutions. This collaboration reflects our shared commitment to excellence and customer-centric innovation, enabling us to address the evolving needs of Sri Lankans more holistically.”

Union Assurance CEO Senath Jayatilake said: “We are delighted to announce our exclusive bancassurance partnership with Sampath Bank, a leading force in Sri Lanka’s banking sector. This partnership is a natural fit, aligned with each organisation’s ethos and values of placing customers at heart to deliver best-in-class solutions. We are committed to leveraging our expertise, resources, and advanced technology to offer tailored life insurance solutions that meet the diverse needs of Sampath Bank’s customers, providing a comprehensive one-stop approach to their financial planning.”