Union Assurance delivers higher dividends for its policyholders

Union Assurance (UA) declared a 10% dividend rate on its dividend-based policies for year 2018 meeting the minimum guaranteed rate of 10% which is also higher than the average market interest rate of 8.85%for the year 2018.

Over the years, UA has consistently delivered higher returns than promised to policyholders. 

Policyholders with dividend-based products were able to enjoy dividends based on the investment earnings of the life fund attributable to such products. An investment account is maintained for each policyholder which is credited with the dividend on a monthly compounding basis. 

The company’s ‘With Profit’ policyholders will also receive an annual bonus, which will be added to their policies on completion of the policy anniversary following 31 December 2018. All policyholders will receive their bonus and dividend certificates in due course.

UA has been able to offer impressive benefits to its policyholders due to prudent management of investments and the financial strength of the company. UA is also in the process of introducing a priority service for its top customers enabling them to experience a convenient and seamless service. 

General Manager – Life Operations Iroshini Tittagalla expressing her views stated: “We are pleased to deliver on our promise and declare an attractive dividend rate for the year. In addition, each of our policyholders also benefited from high quality protection solutions which have been customised to suit their specific needs, providing them peace of mind and a financial safety net in the event of unforeseen events.”

UA is anchored by a team of experienced and dynamic professionals and is backed by a strong capital base and reinsurance partnerships with highly rated global reinsurers. Celebrating over 30 years of excellence, Union Assurance continues to invest in people, products and processes to become a true partner in success for all its stakeholders.