Union Assurance Awarded for Excellence in Integrated Reporting for the 2nd Year
Union Assurance PLC, your trusted Life insurance partner, was awarded among the 10 Best Integrated Reports at the 2021 CMA Excellence in Integrated Reporting Awards for the second consecutive year, organised by the Institute of Certified Management Accountants of Sri Lanka. This recognition reaffirms the Company’s commitment to the values of transparency, accountability, and integrity while maintaining an exceptional financial track record.
Union Assurance is a part of the John Keells Group, one of Sri Lanka’s largest listed conglomerates. It is among the most awarded Insurance companies in Sri Lanka, completing over three decades of success with a market capitalisation of Rs. 15.9 Bn, a Life Fund of Rs. 47.5 Bn and a Capital Adequacy Ratio (CAR) of 250% as of September 2021.
Commenting on the coveted recognition, Asha Perera, the Chief Financial Officer, stated, “It is an honour to receive this prestigious award from the Institute of Certified Management Accountants of Sri Lanka, which recognizes Union Assurance’s outstanding efforts and commitment to financial reporting. We constantly focus on keeping ourselves apprised of accounting practices and standards prevailing across the world. This recognition is a reflection of transparent practices adopted by Union Assurance in following accounting standards in practice and following established models of good corporate governance. We are determined to continue delivering excellence in financial reporting.”
The Awards are based on a detailed evaluation of Annual Reports, conducted across the whole gamut of Sri Lanka’s private and public sector organisations. The evaluation criteria, carried out as per the International Integrated Reporting Council (IIRC) framework, assesses how well an organisation has consolidated its strategy, governance, performance, and prospects to create long lasting and sustainable value that accounts for all stakeholder needs.
The evaluation criteria, carried out as per the International Integrated Reporting Council (IIRC) framework, assesses how well an organisation has consolidated its strategy, governance, performance, and prospects to create long lasting and sustainable value that accounts for all stakeholder needs.
Union Assurance is a part of the John Keells Group, one of Sri Lanka’s largest listed conglomerates. It is among the most awarded Insurance companies in Sri Lanka, completing over three decades of success with a market capitalisation of Rs. 15.9 Bn, a Life Fund of Rs. 47.5 Bn and a Capital Adequacy Ratio (CAR) of 250% as of September 2021. Set to empower the Sri Lankan Dream, Union Assurance offers Life Insurance solutions that cover education, health, investment, protection, and retirement needs of Sri Lankans. With an islandwide branch network and an over 3,000-strong workforce, Union Assurance continues to invest in people, products, and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry.