Established in 1987 as Sri Lanka's first private sector insurer, we proudly stand today as the nation's longest-serving private Life Insurer. For nearly four decades, we have been deeply embedded into Sri Lanka's economic and social DNA, supporting individuals, families, and communities through times of challenge and celebration alike. Our journey has been one of resilience, trust, and unwavering commitment to the people we serve.
Empowering Human Progress by Protecting What Matters
Protecting Lives and Enriching Well-being
Strive for excellence in everything we do to be the best we can be
Building strong relationships based on transparency and convenience with internal and external customers
Fostering a great place to work by supporting each other to reach our full potential
Doing the right thing always
Improving constantly, reinventing and evolving
Union Assurance Continues to Be Among the Top 50 Most Valuable Brands in Sri Lanka
Union Assurance Wins Bronze at TAGS Awards 2025
Union Assurance Strengthens Industry Leadership with Multiple Wins at SLIM NSA 2025
Company with Great Managers for the 4th Consecutive Year
Union Assurance Wins Gold at Dragons of Sri Lanka 2025
Union Assurance Becomes First Life Insurer in Sri Lanka to Achieve ISO/IEC 27001:2022 Certification
Union Assurance Wins John Keells Chairperson’s Award for Disruptive Innovation
Union Assurance Becomes First Insurer to Earn the YouTube Silver Play Button
Union Assurance Wins Silver at SAFA BPA Awards 2024
Union Assurance Wins at the 6th Indian Chamber Emerging Asia Conclave and Awards 2025
It is my privilege to present the Integrated Annual Report and Financial Statements for the year ended 31 December 2025. This Report aims to offer you a comprehensive and transparent view of how Union Assurance creates value through our strategy, governance foundation, and commitment to sustainable long-term growth.
The year 2025 marked a strong and sustained momentum for Union Assurance. Guided by our value-centric strategy, we delivered robust growth in New Business (NB) and Value of New Business (VNB), driven by the strong performance of both our Agency and Bancassurance channels. This progress enabled us to generate and distribute sustainable value across our stakeholder ecosystem.
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Union Assurance closed 2025 with exceptional results, strengthened by strategic decisions that enhanced our financial resilience and positioned the Company for sustained long term growth. In a year shaped by stability and evolving market conditions, we introduced several industry-first innovations and deepened our focus on stakeholder value. Our investments in expanding distribution channels, advanced digital capabilities, combined with our purpose “Protecting what matters most” continued to elevate the life insurance experience for our customers and reinforce our standing as one of Sri Lanka's most trusted brands.
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Left to Right
Chief Marketing Officer
Chief Information Officer
Chief Financial Officer
Chief People Officer
Chief Executive Officer
Chief Actuarial Officer
Chief Partnership Distribution Officer
Chief Agency Officer
Chief Operating Officer
Embarked on a long-term mission to develop a transition plan to lower carbon emissions with the implementation of ESG framework and adoption of Sustainability standards SLFRS S1 & S2.
Launch Of
An Exclusive and Innovative Life Insurance Solution
Unveiled our Employee Value
Proposition (EVP) Initiative with the
Theme “GROW Beyond Limits”
Entering into an
Exclusive Partnership
with Sampath Bank PLC
Union Assurance Ranked Within the Top
Most Valuable Brands
in Sri Lanka
First Insurer to Earn
the 
Silver
Play button
Lives Impacted by Our Flagship CSR Initiative 'Suwamaga' Diabetes Early Screening Programme
Return on equity (ROE)
Surplus
Earning per share (EPS)
Profit after tax
Capital Adequacy Ratio (CAR)
Share price
New branches
Training hours per employee
Female employees in decision making roles
Salaries and benefits
Gender diversity ratio
Water treated
Waste recycled
Carbon footprint
Fully grown trees saved
Paid to suppliers
New Bancassurance partnership
MDRT achievers
New policies issued
One day claims
settlement ratio
Complaints resolution rate
Most Valuable Brands In
Sri Lanka by LMD
First Life Insurer in Sri Lanka to achieve ISO/IEC 27001:2022 Certification
Non-Medical Straight
Through Processing (STP) Rate
New features added to
Clicklife App
Wastewater treatment system at Kurunegala, ensuring effluent meets standards before safe discharge to ecosystems
Paper & plastic recycling: Recycling paper and plastic waste in collaboration with Neptune Recyclers as the recycling partner.
GWP
(2024: Rs. 21,647 Mn)
Surplus from Life Insurance Fund
(2024: Rs. 3,000 Mn)
Assets Under Management
(2024: Rs. 95.6 Bn)
Life Fund
(2024: Rs. 77.5 Bn)
Investment in PPE
Revenue from relocation & refurbished branch network
Training Space
Total capacity utilisation
Building space
Return on Asset
Revenue per Investment in Operational footprint
Male: Female ratio
Investment in L&D
Remuneration and benefits paid
Employee turnover %
(Support function and sales supervision)
Recycled Waste
Investment in Solar Power
Water Treatment
Total Carbon Footprint
Sales Staff
Lives Insured
Investment in CSR
Service Providers
Investment in Technology
New Clicklife users
Interactive Dashboards for Data Analytics
Average Data Centre Availability
Strong Corporate Governance serves as the foundation of sustainable value creation, anchoring integrity, transparency, and accountability in every decision. Rooted in disciplined oversight and ethical leadership, governance remains the guiding force that safeguards resilience, enables responsible growth, and embeds sustainability as an enduring strategic commitment.
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