Union Assurance signs MOU with Seylan Bank to strengthen Bancassurance operations

Senior Management of Union Assurance and Seylan Bank at the inauguration ceremony of the Union Assurance and Seylan Bank Bancassurance Partnership. From left: Union Assurance Assistant General Manager (Bancassurance) Samantha Herath, Union Assurance General Manager (Marketing & Distribution ) Dharshana Amarasiynghe, Seylan Bank Director/Chief Executive Officer Kapila Ariyaratne, and Union Assurance Director / Chief Executive Officer Dirk Pereira, Seylan Bank Deputy General Manager (Consumer Finance Unit) Delvin Pereira, along with Seylan Bank Chief Manager (Consumer Finance Unit) Rupika Navaratna

Union Assurance recently partnered with Seylan Bank to strategically strengthen its Bancassurance channel and to provide life insurance facilities to the extensive customer network linked with the Bank.

This partnership is a mutually beneficial agreement that allows the bank to have a one-stop shop facility for its customers, while allowing the insurance giant to tap in to a wider customer base with a diverse range of insurance needs.This service would further provide all-inclusive package of services for banking and life insurance solutions under one roof. 

Union Assurance is an industry leader with a number of innovative tailor-made insurance products to suit any lifestyle requirement. Through this MOU, Union Assurance has expanded its reach and will make a positive impact in the lives of a wider group of individuals.

Seylan Bank Chief Executive Officer Kapila Ariyaratne, commenting on embarking the new partnership, stated: “We are extremely glad that we could initiate a partnership with Union Assurance, which is one of the leading life insurance providers here in Sri Lanka. I hope that this landmark corporate relationship will be a key driver to achieve the business-related objectives and to expand its services aligned to both the parties.” Union Assurance Chief Executive Officer Dirk Pereira, also expressing his views, stated: “This partnership will help us to have a strong corporate relationship with the Bank and will also assist us to reach out to a diversified customer base to give the best of insurance solutions and develop new relationships in untapped markets.”

Union Assurance is one of Sri Lanka’s largest providers of life insurance solutions in the country, backed by the strength and stability of one of Sri Lanka’s largest conglomerates, John Keells Holdings PLC. 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 stakeholders. Bancassurance being one of UA’s diversified sales channels consists of a team of experienced, dynamic and outstanding professionals powered with the latest technology to cater a convenient and trusted service for its customers.