Insurance · Life/Health Insurance
| Year | Revenue | Net profit | EPS |
|---|---|---|---|
| 2025 | Rs 39.8B | Rs 3.4B | 5.72 |
| 2024 | Rs 34.8B | Rs 3.7B | 6.35 |
| 2023 | Rs 30.0B | Rs 3.8B | 6.38 |
| 2022 | Rs 23.3B | Rs 2.7B | 4.66 |
| 2021 | Rs 20.7B | Rs 2.1B | 34.85 |
| 2020 | Rs 17.5B | Rs 920.6M | 15.62 |
| 2019 | Rs 15.3B | Rs 1.2B | 19.65 |
Union Assurance PLC is a Sri Lanka-based life insurer that provides life, health and protection insurance solutions to individual and institutional customers across the island. The company offers product design, underwriting, policy issuance and administration, claims management and customer servicing for life and health protection contracts. Its products are distributed through a multi-channel sales network comprising branches, an agency force, bancassurance partners and digital platforms (including the Clicklife mobile app), supported by call centre and back-office operations; the company cites an extensive branch network and a large sales force to reach diverse customer segments and bancassurance relationships such as an exclusive partnership with Sampath Bank PLC. Union Assurance also conducts fund management and investment activities, investing collected premiums to meet long-term policyholder obligations within regulatory and risk parameters; during the year it divested a 22% stake in Fairfirst Insurance Limited as part of its strategic focus on life insurance.
No AI research report for Union Assurance PLC yet. Generate one from everything we track: prices, valuation, news sentiment, financials and corporate actions.
Generate an analysis →No scored news in the last 30 days.
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.
Dividend · Rs 5.00 · XD Mar 11, 2026
First And Final dividend of LKR 5/share; XD 2026-03-11; record 2026-03-11; payable 2026-03-30; FY 31 December 2025
Union Assurance PLC has appointed its CEO Senath Jayatilake to its Board as an Executive Director. He is an Executive Vice President of the John Keells Group, was CEO of John Keells Logistics, and has over 19 years' experience and relevant finance/management qualifications.
Softlogic Life reported FY25 GWP of Rs.40.1bn (27% YoY) and PAT of Rs.4.7bn with ROE at 39%, completed the acquisition of Allianz Life Lanka and secured a USD 15m capital investment from Norfund/OP Finnfund.
Ceylinco Life appointed industry veteran Dr Kelum Senanayake as a Consultant to lead training and support product design and development. The hire draws on his 40+ years in insurance and prior senior roles at Arpico Insurance, Union Assurance and Richard Pieris-related companies.
Union Assurance PLC sold its 22% stake (30.8m shares) in Fairfirst Insurance to Fairfax Asia Ltd for Rs. 2.64 billion. Fairfax Asia is a unit of Fairfax Financial, which is also the largest shareholder of John Keells Holdings PLC.
Union Assurance PLC sold its 22% stake in Fairfirst Insurance to Fairfax Asia for Rs2.638 billion, John Keells Holdings said. The divestment comprised 30,800,000 ordinary shares for a total consideration of Rs2,638,079,877.
Insurance sector metrics strengthened in 1Q 2026: GWP rose 24.54% to Rs.114,863 million, total assets grew 16.65% to Rs.1,478,777 million, and industry PBT edged up 3.14% to Rs.9,978 million, with Life PBT down 11.5% and General PBT up 28.1%. June services PMI rose to 58.5 with gains in insurance, alongside higher employment and new business. Brokers flagged PDPA and cyber liabilities, highlighting D&O and Cyber insurance.
Auto-generated from 5 sector news articles over 30 days. Not investment advice.