Union Assurance deepens Bancassurance relationships with Pan Asia Bank

Union Assurance, Sri Lanka’s trailblazing Life Insurer, recently celebrated the business launch with its esteemed bancassurance partner, Pan Asia Bank, at Cinnamon Grand Colombo. Cementing its position as Sri Lanka’s No. 1 bancassurance provider, Union Assurance teamed up with The Truly Sri Lankan Bank, Pan Asia Bank, in June 2022, to broaden the bancassurance scope and reach in the country. Through this partnership, Pan Asia Bank will be able to offer its customers a full suite of financial services, including Life Insurance solutions for savings, protection, and investments.

The business launch, which was attended by Union Assurance’s Chief Bancassurance Officer, Vindya Cooray, and Pan Asia Bank’s Chief Operating Officer, Naleen Edirisinghe, along with both companies’ management teams, provided an enjoyable forum for the teams to network and build relationships in preparation for the shared goal of providing the highest quality services to customers.

“For the past three decades, our Company has been dedicated to empowering Sri Lankan dreams. Today, we are the bancassurance leader in Sri Lanka, and our partnership with Pan Asia Bank, one of the country’s most prestigious financial institutions, represents a significant milestone for the Company. We are thrilled to work with Pan Asia Bank to provide comprehensive Life Insurance solutions to its customers, underpinned by our digital capabilities and bancassurance expertise,” Chief Bancassurance Officer of Union Assurance, Vindya Cooray, stated.

“The right partnership often propels business growth while producing mutually advantageous outcomes. Our bank has been serving the Sri Lankan community for over 27 years, with the ambition of delivering financial inclusion and world-class products and services to customers. The numerous outstanding local and international accolades we have received attest to this goal. We are pleased to partner with Union Assurance, a reputable and trusted Life Insurance provider, to offer our customers inclusive coverage designed to meet their evolving needs. We are confident that this partnership will be a gamechanger for our business, allowing us to better serve our customers with cuttingedge Life Insurance solutions,” Assistant General Manager (Retail Credit) of Pan Asia Bank, Shiyan Perera, stated.

Image caption: Naleen Edirisinghe, Chief Operating Officer of PABC, and the Bancassurance team of PABC, along with Vindya Cooray, Chief Bancassurance Officer of UAL, with the Channel Manager and Business Development team.