Union Assurance, Sri Lankas trailblazing Life Insurer clinched multiple awards at the CMA Excellence in Integrated Reporting Awards 2022, held recently at the Taj Samudra Hotel in Colombo. The Institute of Certified Management Accountants of Sri Lanka conferred the honours in recognition of the Company’s steadfast commitment to upholding the highest standards of financial transparency, accountability, and integrity.
Union Assurance was named one of the Ten Best Integrated Reports for the third consecutive year, while also winning the special award for Best Disclosure on Capitals.
Union Assurance’s Chief Financial Officer, Asha Perera, commented on the accolades, saying, “We are thrilled to be awarded for the third year in a row by the Institute of Certified Management Accountants of Sri Lanka. We are also proud to have won a special award this year, which serves as a powerful testament to the Company’s transparency and honesty to its stakeholders. Union Assurance is committed to adhering to global accounting standards to ensure operational integrity. We will continue to invest in robust business processes to reinforce our position as a responsible corporate citizen with excellent financial reporting.”
The awards are based on an analysis of all entries across the country from quoted companies under the classification of the Colombo Stock Exchange, Private Companies, State Owned Enterprises/Companies, Banks, Government sector institutions, Small & Medium Enterprises, NGOs & NPOs, etc. The annual reports were reviewed using the guiding principles of the International (IR) Framework issued by the International Integrated Reporting Council (IIRC) with special emphasis on; strategic focus and future orientation, connectivity of information, value creation, reliability, and completeness.
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. 16.7 Bn, and a Life Fund of Rs. 55.6 Bn as of September 2022. 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 island wide 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.