Company filings, disclosures and news on Union Assurance PLC (UAL), Life/Health Insurance on the Colombo Stock Exchange, tagged by theme and scored for sentiment.
Union Assurance secured four national-level awards at NAFLIA 2026, a Gold (Best Bancassurance Sales Supervisor/Team Leader), a Silver (Fast Starter) and two Bronze awards in bancassurance categories, underscoring strength in its Partnership Distribution channel.
Union Assurance held its Partnership Distribution Annual Awards 2025 at Cinnamon Life, presenting 150 awards to top performers and naming Dineshi Fernando (Nations Trust Bank channel) Champion of Champions, highlighting strong growth in its bancassurance distribution for 2025.
The Sri Lanka International Insurance Summit 2026 concluded in Colombo after three days of discussions, bringing together 500+ delegates to focus on insurance's role in resilience, inclusion and innovation. Sessions addressed climate/catastrophe resilience, microinsurance, motor insurance trends, technology (AI) and IFRS/ESG implications.
The Ministry of Youth Affairs and Sports launched Colombo Marathon 2026, an international city marathon set for 13 September 2026 that aims to position Colombo on the global sports tourism map and is expected to draw over 4,000 participants. The event is backed by partners including Union Assurance, Elephant House, Nations Trust Bank and City of Dreams Sri Lanka.
Union Assurance launched what it called the largest Leader Reward Scheme for agency leaders in Sri Lanka's life insurance industry at its Leader Conference 2026, aiming to recognise top performers and accelerate leadership development. Union Assurance is a subsidiary of John Keells Holdings PLC.
Union Assurance launched 'Union Assurance Platinum Circle', automatically enabling eligible policyholders to access exclusive lifestyle experiences, milestone recognition, digital health services and partner benefits via its Clicklife app.
Union Assurance PLC (UAL.N0000) was named a Celent Model Insurer for Customer Experience in 2026 for its Connected Life Initiative. The programme, driven by the Clicklife app and AI Suwamaga+, has 100,000+ downloads, 69% straight-through automated underwriting and cut claims handling time by over 80% to ~5 minutes.
SLFRS 17 (IFRS 17) adoption will reshape Sri Lanka's life insurance sector, with reporting for the first two quarters deferred until 30 Sep 2026; insurers say the standard will shift focus from premium volumes to insurance service revenue, CSM visibility and protection products, and may encourage consolidation.
CEOs of Softlogic Life (AAIC.N0000), Union Assurance (UAL.N0000) and HNB Life (HASU.N0000) warned inflation, weak household incomes and potential taxation of insurance proceeds are limiting Sri Lanka's life-insurance growth and urged tax incentives and regulatory support.
Union Assurance PLC ran free diabetes screenings and health education at the Poson pilgrimage in Anuradhapura on 28–30 June as part of its Suwamaga programme, which has directly impacted over 23,500 people and reached 1.2 million since 2024. The programme, delivered with the Diabetes Association and Ministry of Health, reported 71% of beneficiaries showing positive behavioural changes.
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