Business
Union Assurance wins global acclaim as Fastest-Growing and Most Admired Insurance Company in Sri Lanka
Continuing its accolade-winning streak, Sri Lanka’s Life Insurance trailblazer Union Assurance has won 4 prestigious global awards. Presented by the World Economic Magazine, these awards recognized the Company’s industry-leading achievements in innovation and service excellence. The accolades are awarded annually to the most dynamic and innovative players from a range of industries across the world.
The awards won by Union Assurance were Fastest Growing Life Insurance Company Sri Lanka, Most Admired Insurance Company Sri Lanka, Best Bancassurance Provider Sri Lanka, and Most Innovative Bancassurance Rewards Program Sri Lanka.The Chief Executive Officer of Union Assurance, Jude Gomes, said the awards bore testimony to their customer-centric strategy and visionary outlook. “We have always strived to offer the best, surpassing customer expectations through innovation and digitisation,” he asserted.
While expressing delight in winning the awards, Mr. Gomes thanked the team for their hard work and passion in propelling the Company to such heights, and also the customers for their loyalty and trust in us. He noted that Union Assurance has always led the industry in enhancing the customer experience. “We have a legacy of excellence as a futuristic, digitally-driven Company, and have transformed Life insurance in Sri Lanka with our best-in-class solutions,” he added.
The award for Fastest Growing Life Insurance Company in Sri Lanka reflects the Company’s exceptional financial growth. In 2021, gross written premium exceeded Rs. 15 billion, a notable increase over the previous year’s figure of Rs. 13 billion. Profit before tax rose by 46% from Rs. 1.8 billion to Rs. 2.6 billion, and profit after tax increased from Rs. 921 million to Rs. 2.1 billion – a remarkable growth of 123%.
Bagging the award for Most Admired Insurance Company in Sri Lanka was another triumph. Besides financial growth, Union Assurance has led the field in various aspects. For example, it has earned a reputation for service excellence, driven by a digital experience that takes user-friendliness, convenience and accessibility to new heights. The Company also has an enriching work culture which nurtures and empowers employees. It has been recognized as a Great Place to Work for 9 consecutive years. Its success in producing a record number of qualifiers in the Million Dollar Round Table (MDRT) is also attributable to its emphasis on people development.
Two of the awards won by Union Assurance were in the Bancassurance field – Best Bancassurance Provider and Most Innovative Bancassurance Rewards Program in Sri Lanka. These accolades reaffirmed its position as the leading Bancassurance provider in the country. The Company is continuously expanding its Bancassurance footprint, boosted by innovative digital solutions that drive its exceptional growth. The Company has built strong, unshakeable relationships with all its bank partners. These partnerships have facilitated the delivery of expert consultation, superior solutions, and sound financial advice to customers.
Union Assurance is a part of the John Keells Group. It is among the most awarded Insurance companies in Sri Lanka, completing over three decades of success with a market capitalisation of Rs. 17.9 Bn, a Life Fund of Rs. 49.7 Bn and a investment portfolio of Rs. 58.5 Bn as of March 2022.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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